auto sl t p
Info
The auto sl t p is a Expert Advisor for MetaTrader 5 that this assistant tool sets stop loss and take profit for all open orders. symbol settings, position type, stop loss and take profit are specified in an external file.
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 sl t p
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
this assistant tool sets stop loss and take profit for all open orders.
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.
Also recommended: Professional Automatic Trailing Stop Utility for MetaTrader 5 - similar expert with strong performance on MetaTrader 5.
this assistant tool sets stop loss and take profit for all open orders. symbol settings, position type, stop loss and take profit are specified in an external file.requirement for the configuration file
the file should be saved as "autosltp.txt" in [data folder]\mql5\files\autosltp\autosltp.txt
the format of writing to the file
a separate line is written for each symbol and position type. the format of entry:
parameters
[symbol name]
- is the name of the traded symbol;
[position type]
sets the type of position to be opened. it can be either "position_type_buy" or "position_type_sell".
[stop loss]
- stop loss. set as integer values.
[take profit]
- take profit. set as integer values. an example of the settings file
You may also like: Gold Scalp Bot - Autonomous XAUUSD Scalper with Local App Bridge - excellent alternative for expert users on MetaTrader 5.
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.