Auto SL T P
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup 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.
Description & Settings
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
