Modify Stop Loss and Take Profit for MT4/MT5 Positions
Info
The Modify Stop Loss and Take Profit for MT4/MT5 Positions is a Script for MetaTrader 4 that this script allows you to modify the stop loss and take profit levels for existing positions in the current symbol. The new Stop Loss and Take Profit values are determined based on current market prices.
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 Stop Loss and Take Profit for MT4/MT5 Positions
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 allows you to modify the Stop Loss and Take Profit levels for existing positions in the current symbol.
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: e-move slt pby mouse: intuitive stop loss and take profit management - another powerful script for MetaTrader 4 traders.
This script allows you to modify the Stop Loss and Take Profit levels for existing positions in the current symbol.Also recommended: trailing stop for all orders - similar script with strong performance on MetaTrader 4.
The new Stop Loss and Take Profit values are determined based on current market prices.If input values for Stop Loss or Take Profit are set to 0, no modification will occur for that specific level.
This tool is particularly useful for efficiently updating all positions of the same symbol with consistent Stop Loss and Take Profit levels.
Updates and New Features:
modify_sl_tp: This version is used to modify the Stop Loss and Take Profit of current symbol positions. Inputs are specified in pips.
modify_sl_tp_with_price: This newly added version allows modification of Stop Loss and Take Profit for current symbol positions, with inputs directly in price values instead of pips.
modify_sl_tp_all_symbol: This newly added version is designed to modify the Stop Loss and Take Profit for all open and pending orders across all symbols. Inputs are specified in pips.
Last Update: 2026-08-07
You may also like: i-Total Stop Indicator - excellent alternative for script users on MetaTrader 4.
Source Code
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⚠ 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.