assisted position closing tool
Info
The assisted position closing tool is a Expert Advisor for MetaTrader 5 that two parameters;the first one sets the stop loss amount, which must be negative. it does not work without input.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use assisted position closing tool
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
two parameters;the first one sets the stop loss amount, which must be negative.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Quantora Trade Manager MT5: Advanced Position Management - another powerful expert for MetaTrader 5 traders.
two parameters;
Also recommended: Quantora Position Size Calculator MT5: Professional Risk-Based Lot Size Calculation - similar expert with strong performance on MetaTrader 5.
the first one sets the stop loss amount, which must be negative. it does not work without input.the second one is the take profit multiplier, based on the stop loss value.
the tool has a disadvantage, it does not recognise pending orders.
it has the advantage that a set stop loss will default to an order that does not require the tool to operate, making it convenient for users to hold both long-term and short-term orders.
it has two ways of stop loss: one is to set a stop loss for one of the orders to guide the closing of the position.
the second is to close the position using a multiple of the input.
this tool is designed to strictly limit the stop loss, especially for people who often trade stop loss frequently. if you often arbitrarily stop loss, then you can use it to discipline yourself.
You may also like: as q flow desk one-click execution position management panel - excellent alternative for expert users on MetaTrader 5.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
input double InpProfit=0; // How much of a loss is off must enter a negative number
input int InStop =10; //How many times the stop loss automatically stop profit
string label="M_1";
double pro_2 = 0; //Set the earnings value to pass
double cor_1 = 0; //Closing price passthrough
int K_1 =0; //Bill of sale sign.......
⚠ 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.