close profit
Info
The close profit is a Expert Advisor for MetaTrader 5 that if the profit reaches "profit close" or the loss reaches "loss close", all positions are closed, while pending orders are removed. the "all symbols" parameter is responsible for working on all symbols or only on the current one:if "all symbols" is "true", the ea works on all symbols if "all symbols"is "false", the ea works on the current symbol the "magic number" parameter is a unique id the ea works with: if it is set to "0", the ea works with any magic number.
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 close profit
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
if the profit reaches "profit close" or the loss reaches "loss close", all positions are closed, while pending orders are removed.
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: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - another powerful expert for MetaTrader 5 traders.
Also recommended: 20/200 pips: a simple and profitable expert advisor - similar expert with strong performance on MetaTrader 5.
if the profit reaches "profit close
" or the loss reaches "
loss close
", all positions are closed, while pending orders are removed.
the "
all symbols
" parameter is responsible for working on all symbols or only on the current one:
if "
all symbols
" is "
true
", the ea works on all symbols
if "
all symbols"
is "
false
", the ea works on the current symbol
the "
magic number
" parameter is a unique id the ea works with: if it is set to "
0
", the ea works with any magic number.
when launched in the tester (in visual mode), a demo mode is enabled: a buy position is opened and a buy limit pending order is placed:
You may also like: Close All Positions on Maximum Loss - 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.