Set Fixed SL and TP
Info
The Set Fixed SL and TP is a Script for MetaTrader 4 that this script scans for open orders and sets a stop loss and take profit to all of the filtered orders. You can filter orders by:Magic Number Comment You will have to specify the Stop Loss and Take Profit in pips.
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 Set Fixed SL and 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 scans for open orders and sets a Stop Loss and Take Profit to all of the filtered orders.
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: One Click (Hot Key Alt-C) close all order and take screen for keep your trading journal - another powerful script for MetaTrader 4 traders.
Also recommended: Open a Trade Script - similar script with strong performance on MetaTrader 4.
This script scans for open orders and sets a Stop Loss and Take Profit to all of the filtered orders.You can filter orders by:
Magic Number
Comment
You will have to specify the Stop Loss and Take Profit in pips.
⚠ 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.