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basket manager ea
Info
The basket manager ea is a Expert Advisor for MetaTrader 5 that the rules are:if you have less than n-positions open the ea will do nothing. the moment you open the n-th position the ea will close all previous positions if their total pnl is positive.
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 basket manager ea
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
the rules are:if you have less than n-positions open the ea will do nothing.
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.
the rules are:
Also recommended: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - similar expert with strong performance on MetaTrader 5.
if you have less than n-positions open the ea will do nothing.
the moment you open the n-th position the ea will close all previous positions if their total pnl is positive.
if you have greater(or equal) than n-positions it will close everything as soon as the total pnl is positive.
the rules above guarantee that you won't grow a too large basket that cause risk to your capital. also it will help you with saving profit every now and then.
note that the positions have to have same amount of risk(not necessarily lot size as the volatility could be different on different instruments).
You may also like: Advanced Risk Manager: Auto Suffix Detection Multi-Currency Lot Sizer - excellent alternative for expert users on MetaTrader 5.
Source Code
#include <Trade\Trade.mqh>
CTrade trade;
input int n=3;
void OnTick()
{
if(PositionsTotal()>=n)
{
if(AccountInfoDouble(ACCOUNT_EQUITY)>AccountInfoDouble(ACCOUNT_BALANCE))
{
while(PositionsTotal()>0).......
⚠ 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.