Modify SL and/or TP
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This script functions as a utility program designed for specific, one-time execution tasks. It is utilized to perform targeted actions, such as closing all open orders, managing chart objects, or executing custom administrative commands on demand.
How to Setup and Use Modify SL and/or TP
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
Description & Settings
I used to suffer from unnecessary losses and/or cutting my profit short since I wasn't fast enough to modify my SL and/or TP. That is why I've wrote these scripts that will allow me to react fast when I must modify my Sl and/or TP especially when I have many open and/or pending trades. I know there are plenty of Metatraders who also suffer from this and that is why I would like to share these scripts with you, hopefully it will be beneficial.
Do not forget to send you comments as well as rate these scripts. Happy trading!
These 3 MQL5 scripts will help you to immediately react to your open positions and pending orders. Below is an example on how to modify the SL of 4 Buy limit orders in one step.
SCT_EditSLTP_BuySellLimitOrders is the script that will help you modify the SL and/or TP all your
Buy and/or Sell limit orders
, below are the input values that you need to insert and the script will take care of everything.
input double SL_BuyLimitOrder;
input double TP_BuyLimitOrder;
input double SL_SellLimitOrder;
input double TP_SellLimitOrder;
SCT_EditSLTP_BuySellStopOrders is the script that will help you modify the SL and/or TP all your
Buy and/or Sell stop orders
, below are the input values that you need to insert and the script will take care of everything.
input double SL_BuyStopOrder;
input double TP_BuyStopOrder;
input double SL_SellStopOrder;
input double TP_SellStopOrder;
SCT_EditSLTP_BuySellPositions is the script that will help you modify the SL and/or TP all your
Buy and/or Sell positions
, below are the input values that you need to insert and the script will take care of everything.
input double SL_BuyPosition;
input double TP_BuyPosition;
input double SL_SellPosition;
input double TP_SellPosition;
