EA Stop Order
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 EA Stop Order
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
The Expert Advisor places a grid of pending Buy Stop and Sell Stop orders. When the profit reaches or exceeds
Profit purpose
, all positions are closed and all pending orders are deleted. After that the cycle is repeated anew.
Input Values
Profit purpose
(in money) - profit target in money;
Use Buy stop
- enable/disable Buy Stop orders;
Use Sell stop
- enable/disable Sell Stop orders;
Maximum pending orders
- the maximum number of orders of each type;
StopLoss ("0" -> off)
;
TakeProfit ("0" -> off)
;
Distance from current price
- distance from the current price;
Lots
- the lot size of the first order;
Lot Ratio
- lot increase ratio; if you do not want to increase lot, set the parameter to 1.0;
magic number
- unique identifier for the EA.
Example of testing in the "Every tick based on real ticks" mode on EURUSD:
