ea stop order
Info
The ea stop order is a Expert Advisor for MetaTrader 5 that 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.
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 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.
What this tool does
the expert advisor places a grid of pending buy stop and sell stop 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.
the expert advisor places a grid of pending buy stop and sell stop orders. when the profit reaches or exceedsprofit 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:
You may also like: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - 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.