Order Manager Tool
Info
The Order Manager Tool is a Expert Advisor for MetaTrader 4 that this tool is very useful for managing orders. It allows you to adjust stop loss and take profit levels by dragging the lines drawn by the expert advisor.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Order Manager Tool
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This tool is very useful for managing orders.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: Bad Orders Expert Advisor for MetaTrader - another powerful expert for MetaTrader 4 traders.
This tool is very useful for managing orders. It allows you to adjust stop loss and take profit levels by dragging the lines drawn by the expert advisor. You can also see the number of pips you are winning or losing.Also recommended: Institutional ATR Trailing Stop and Breakeven Manager for MT4 - similar expert with strong performance on MetaTrader 4.
Key Features
- Adjust stop loss and take profit levels by dragging lines
- View the number of pips you are winning or losing
- Modify stop loss and take profit levels through the MT4 OrderModify window
- MT4 trailing stop works as usual
This tool is a must-have for manual traders. It provides a convenient way to manage your orders and track your progress.
We will be launching a new website in 2026, which will be multilingual and feature lots of new tools.
You may also like: Place OC O Order, One pip Limit Order and One Pip Stop Order - excellent alternative for expert users on MetaTrader 4.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.