CM-Close Lock: Advanced Order Management Expert Advisor
Info
The CM-Close Lock: Advanced Order Management Expert Advisor is a Script for MetaTrader 4 that the expert advisor closes the furthest losing order and all profitable orders if the loss of the furthest order is covered by the profit of other orders plus a specified close profit value in deposit currency. The furthest order is determined by its distance from the current price.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use CM-Close Lock: Advanced Order Management Expert Advisor
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
The Expert Advisor closes the furthest losing order and all profitable orders if the loss of the furthest order is covered by the profit of other orders plus a specified close profit value in deposit currency.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: vr - otkat - another powerful script for MetaTrader 4 traders.
The Expert Advisor closes the furthest losing order and all profitable orders if the loss of the furthest order is covered by the profit of other orders plus a specified close profit value in deposit currency.Also recommended: fibonacci potential entry - mt4 - similar script with strong performance on MetaTrader 4.
The furthest order is determined by its distance from the current price.
Example:
Suppose you have 20 open positions, with 3 in profit and 17 in loss. The loss of the furthest order is 5 USD, and the total profit of the 3 profitable orders is 6 USD. If the close profit parameter is set to 1 USD (meaning 5 = 6 - 1), the EA will close the furthest losing order and all profitable orders on the current currency pair. The EA will then identify new furthest losing orders and wait for new profitable orders to continue its operation.
Parameters
closeprofit: An integer value that defines the target profit sum to trigger order closure.
magic: An integer value for magic number. Set to -1 to include all orders.
You may also like: simple license on account name - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
extern int closeprofit = 0; //закрывать по суммарному профиту
extern int magic = 0; //-1 все ордера
string ac;
int font_size=10;
color text_color=aqua;
int start()
{
if (!istradeallowed()).......
⚠ 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.