Exp Re Open Positions
Info
The Exp Re Open Positions is a Expert Advisor for MetaTrader 5 that the expert advisor (ea) is designed to manage open positions by increasing the volume based on the profit from the last trade. It operates on the principle of adding to winning positions, aiming to maximize gains.
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 Exp Re Open Positions
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 (EA) is designed to manage open positions by increasing the volume based on the profit from the last trade.
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: Basket Pair Closer: Efficiently Close Trading Positions - another powerful expert for MetaTrader 5 traders.
The Expert Advisor (EA) is designed to manage open positions by increasing the volume based on the profit from the last trade. It operates on the principle of adding to winning positions, aiming to maximize gains.Also recommended: Opening Range Breakout with NR4 / NR7 Contraction Filters (2026 Update) - similar expert with strong performance on MetaTrader 5.
Key Features:
- Volume Adjustment: The EA increases the volume of an open position if the profit in points from the last trade exceeds a predefined threshold set in the EA inputs.
- Trade Data Storage: Trade information is stored in a string comment attached to the position, formatted as: number of addings/last trade price/last trade volume.
- Trade Execution: Trades are executed when a new bar is formed, ensuring timely entry or exit decisions.
Input Parameters:
- mm: Defines the share of the deposit allocated for the added deal, allowing for risk management.
- mmmode: Specifies the lot value detection method, providing flexibility in position sizing.
- oldprofit: Sets the profit threshold in points for the previous trade, triggering the addition of new trades.
- postotal: Determines the maximum number of added trades, controlling the overall position size.
- stoploss_: The stop-loss level in points, helping to limit potential losses.
- takeprofit_: The take-profit level in points, enabling profit-taking at predefined levels.
- deviation_: Maximum price deviation in points, ensuring trades are executed within a reasonable range.
Fig. 1 illustrates examples of trades on the chart, showcasing the EA's functionality in practice.
You may also like: Grid Pro Panel: Open-Source Grid Trading EA with On-Chart Control - excellent alternative for expert users on MetaTrader 5.
Source Code
/.......
⚠ 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.