simple mt5 trade copier
Info
The simple mt5 trade copier is a Expert Advisor for MetaTrader 5 that the ea is based on several key trading and technical concepts:trade copying/mirror trading concept: the fundamental idea is to replicate trading activity from one account (master) to another account (slave) this is useful for: fund managers managing multiple client accounts traders wanting to run same strategy across different brokers risk distribution across different brokers account architecture: two-tier system: master account: original source of trades slave account(s): copies/mirrors the master's positions uses a file-based communication system between master and slave instances technical implementation methods: binary file communication: master writes position data to a binary file slave reads this file to sync positions uses common folder access for inter-terminal communication faster and more efficient than text-based methods position management: real-time position tracking maintains three key aspects: open positions replication stop loss/take profit synchronization position closure synchronization symbol mapping: handles different symbol names across brokers for example: xauusd. ecn on one broker might be gold on another allows flexible symbol mapping for different broker conventions risk management principles: maintains exact position sizes preserves stop loss and take profit levels ensures synchronized risk management across accounts operational features: regular polling (every 50ms) to check for changes bi-directional verification: checks for new positions to copy verifies existing positions are still valid closes positions that no longer exist on master error handling and recovery: manages common trading issues: failed order execution communication failures symbol availability issues price differences between brokers.
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 simple mt5 trade copier
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 ea is based on several key trading and technical concepts:trade copying/mirror trading concept: the fundamental idea is to replicate trading activity from one account (master) to another account (slave) this is useful for: fund managers managing multiple client accounts traders wanting to run same strategy across different brokers risk distribution across different brokers account architecture: two-tier system: master account: original source of trades slave account(s): copies/mirrors the master's positions uses a file-based communication system between master and slave instances technical implementation methods: binary file communication: master writes position data to a binary file slave reads this file to sync positions uses common folder access for inter-terminal communication faster and more efficient than text-based methods position management: real-time position tracking maintains three key aspects: open positions replication stop loss/take profit synchronization position closure synchronization symbol mapping: handles different symbol names across brokers for example: xauusd.
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: Trade Adjustment Panel for MT5 - another powerful expert for MetaTrader 5 traders.
the ea is based on several key trading and technical concepts:
trade copying/mirror trading concept:
Also recommended: Quantora Trade Manager MT5: Advanced Position Management - similar expert with strong performance on MetaTrader 5.
the fundamental idea is to replicate trading activity from one account (master) to another account (slave)
this is useful for:
fund managers managing multiple client accounts
traders wanting to run same strategy across different brokers
risk distribution across different brokers
account architecture:
two-tier system:
master account: original source of trades
slave account(s): copies/mirrors the master's positions
uses a file-based communication system between master and slave instances
technical implementation methods:
binary file communication:
master writes position data to a binary file
slave reads this file to sync positions
uses common folder access for inter-terminal communication
faster and more efficient than text-based methods
position management:
real-time position tracking
maintains three key aspects:
open positions replication
stop loss/take profit synchronization
position closure synchronization
symbol mapping:
handles different symbol names across brokers
for example:
xauusd.ecn on one broker might be gold on another
allows flexible symbol mapping for different broker conventions
risk management principles:
maintains exact position sizes
preserves stop loss and take profit levels
ensures synchronized risk management across accounts
operational features:
regular polling (every 50ms) to check for changes
bi-directional verification:
checks for new positions to copy
verifies existing positions are still valid
closes positions that no longer exist on master
error handling and recovery:
manages common trading issues:
failed order execution
communication failures
symbol availability issues
price differences between brokers
You may also like: Professional Automatic Trailing Stop Utility for MetaTrader 5 - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#define FILE_NAME MQLInfoString(MQL_PROGRAM_NAME)+".bin"
#include <Trade/Trade.mqh>
#include <Arrays/ArrayLong.mqh>
enum ENUM_MODE {
MODE_MASTER, // Master Mode
MODE_SLAVE // Slave Mode.......
⚠ 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.