multi break even. mt4
Info
The multi break even. mt4 is a Script for MetaTrader 4 that multi_breakeven enables setting multiple entry positions to breakeven, either through pips or a target price, once the trade becomes favorable. this feature ensures that the investor safeguards their investment, allowing the trade to either reach the desired profit target or exit at the breakeven point.
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 multi break even. mt4
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
multi_breakeven enables setting multiple entry positions to breakeven, either through pips or a target price, once the trade becomes favorable.
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: Mod Stop Reverse EA with Trailing Orders and Break-Even Levels - another powerful script for MetaTrader 4 traders.
Also recommended: Multi-Timeframe AO and MACD Indicator with Color Lines - similar script with strong performance on MetaTrader 4.
multi_breakeven enables setting multiple entry positions to breakeven, either through pips or a target price, once the trade becomes favorable.this feature ensures that the investor safeguards their investment, allowing the trade to either reach the desired profit target or exit at the breakeven point.
traders can opt for the pips method, which defaults to 100 points for a 5-digit broker, or the target price method for achieving breakeven.
it's important to note that selecting the pips method renders the target price ineffective, and vice versa.
You may also like: break trend indicator - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property script_show_inputs
enum ChooseOption {Target=1,NumOfPips=2};
extern string Option = "SELECT TargetPrice OR NumOfPips BELOW";
extern string NOTEWELL = "When TargetPrice is selected,Pips has no effect&Vice Versa";
input ChooseOption TargetOrPips = 2;
input int Pips2BreakEven = 100;.......
⚠ 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.