Stop Loss Take Profit
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. 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 Stop Loss Take 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.
Description & Settings
If a trade is closed by Stop loss, the volume is doubled; if it's closed by Take profit the minimum volume is used. OnTradeTransaction is used to determine whether a trade was performed after the activation of Stop loss or Take profit.
The excellent enumeration ENUM_DEAL_REASON was added in :
It can be checked in OnTradeTransaction.
In other words, it is a very simple and reliable way to determine that a trade resulted from Take Profit or Stop Loss.
At the moment (build 1626), this Expert Advisor can only be checked in a live test - by launching it on a chart or in a debug mode on real data (F5 in the MetaEditor editor). I used the following bypass maneuver:
In OnTradeTransaction, we determined whether Take Profit or Stop Loss triggered:
