profit loss trail ea
Info
The profit loss trail ea is a Expert Advisor for MetaTrader 4 that this expert advisor is a tool for managing orders. the ea can place/remove a take profit.
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 profit loss trail ea
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 expert advisor is a tool 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: Quantora Trailing Stop Manager: Automatic Stop Loss for MT4 - another powerful expert for MetaTrader 4 traders.
this expert advisor is a tool for managing orders. the ea canAlso recommended: e-moving in wl2: automated stop loss adjustment - similar expert with strong performance on MetaTrader 4.
place/remove a take profit.
place/modify/delete a stop loss.
manage all orders or specific ones having a certain id. parameters
manageorders
:
order_by_order = manage separately each order.
same_type_as_one = manage same orders (all buy or all sell as one order, like basket system).
puttakeprofit
: put take profit in orders (yes/no).
takeprofitpips
: take profit in pips.
putstoploss
: put stop loss in order (yes/no).
stoplosspips
: stop loss in pips.
usetrailingstop
: use trailing stop loss (yes/no).
putstoplossafter
: put stop loss in order if order has profit x pips.
trailingstop
: trailing stop loss in pips (distance to follow order).
trailingstep
: steps in pips to use for move stop loss.
usebreakeven
: use break even (put stop loss only in profit) (yes/no).
breakevenafter
: put stop loss if order has profit x pips.
breakevenpips
: pips from order open price to put stop loss.
deletetakeprofit
: delete take profit if there is in order (yes/no).
deletestoploss
: delete stop loss if there is in order (yes/no).
magicnumber
:
>0: modify identifier orders (with special id, this number is id).
0: modify all orders (from ea or manually).
-1: modify only manual orders.
-2: modify only chart symbol orders.
soundalert
: expert play sound in each operation.
colorbackground
: option to change color comments' background.
You may also like: close positions by percentage profit or loss - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "2.30"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
enum mo {order_by_order_all_symbols,same_type_of_chart_symbol_as_one};
extern string setmanageorders = "||=============== manage orders ===============||";.......
⚠ 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.