Modify SL TP
Info
The Modify SL TP is a Script for MetaTrader 4 that this script is used to modify the stop loss and take profit of current symbol positions. The new Stop Loss and Take Profit are based on the market 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 Modify SL TP
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
This script is used to modify the Stop Loss and Take Profit of current symbol positions.
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: Modify Order - another powerful script for MetaTrader 4 traders.
This script is used to modify the Stop Loss and Take Profit of current symbol positions.
The new Stop Loss and Take Profit are based on the market price.
Also recommended: Modify stop loss or take profit - similar script with strong performance on MetaTrader 4.
If the inputs are 0, there will be no modification.It is useful to update all positions with the same SL/TP.
Update: 2019-8-7
Modify_SL_TP --- it has a bug and corrected,please update. Modify_SL_TP_With Price --- it is newly added
Modify_SL_TP_ALL_Symbol --- it is newly added.
1. Modify_SL_TP: It is used to modify the Stop Loss /Take Profit of current symbol positions,the input are
in pips.
2. Modidy_SL_TP_With_Price : It is used to modify the Stop Loss /Take Profit of current symbol positions,the input are
in price instead of pips.
3. Modify_SL_TP_ALL_Symbol.mq4 : It is used to modify all orders and pending orders of all symbols, the inputs are
in pips.
You may also like: CT G-Modify Date - excellent alternative for script 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.