auto close on profit loss expert - automatically close all positions on profit/loss
Info
The auto close on profit loss expert - automatically close all positions on profit/loss is a Expert Advisor for MetaTrader 5 that introduction the autocloseonprofitloss expert advisor (ea) is a powerful automation tool for metatrader 5, designed to close all open positions when predefined profit or loss targets are reached. this ea is perfect for traders who want to manage risk and secure profits without manual intervention.
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 auto close on profit loss expert - automatically close all positions on profit/loss
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
introduction the autocloseonprofitloss expert advisor (ea) is a powerful automation tool for metatrader 5, designed to close all open positions when predefined profit or loss targets are reached.
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 Break Even Manager MT5 - Automated Stop Loss Protection - another powerful expert for MetaTrader 5 traders.
introductionAlso recommended: Professional Automatic Trailing Stop Utility for MetaTrader 5 - similar expert with strong performance on MetaTrader 5.
the autocloseonprofitloss expert advisor (ea) is a powerful automation tool for metatrader 5, designed to close all open positions when predefined profit or loss targets are reached. this ea is perfect for traders who want to manage risk and secure profits without manual intervention. whether you're a scalper targeting quick gains or a long-term trader protecting capital, this ea offers a reliable, hands-free solution.features
automated position closing
: automatically closes all open positions when the total profit or loss meets the specified threshold.
customizable targets
: set profit and loss targets in your account currency (e.g., usd, eur).
flexible options
: independently enable or disable closing based on profit or loss.
user notifications
: displays alerts and logs in the terminal when positions are closed.
efficient and lightweight
: runs continuously with minimal cpu usage, ideal for ongoing trade management.
You may also like: Gold Scalp Bot - Autonomous XAUUSD Scalper with Local App Bridge - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.02"
#property strict
#include <trade\trade.mqh>
input double targetprofit = 100.0; // target profit (in account currency)
input double maxloss = -50.0; // max loss (in account currency, negative value)
input bool enableprofitclose = true; // enable closing on target profit
input bool enablelossclose = true; // enable closing on max loss
input bool showalerts = true; // show alerts when closing positions.......
⚠ 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.