close orders
Info
The close orders is a Library for MetaTrader 5 that close_orders - a versatile function for efficient trade management in metatrader 5. this function simplifies the process of closing positions and deleting pending orders, offering a range of filtering options for precise control.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use close orders
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
close_orders - a versatile function for efficient trade management in metatrader 5.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: close all open trades on different symbols - another powerful library for MetaTrader 5 traders.
close_orders - a versatile function for efficient trade management in metatrader 5.Also recommended: modify orders - similar library with strong performance on MetaTrader 5.
this function simplifies the process of closing positions and deleting pending orders, offering a range of filtering options for precise control.
for positions (9 options):
- all positions
- profitable positions only
- losing positions only
- buy positions only
- sell positions only
- profitable buy positions
- unprofitable buy positions
- profitable sell positions
- losing sell positions
for pending orders (5 options):
- all pending orders
- buy stop orders only
- buy limit orders only
- sell stop orders only
- sell limit orders only
parameters:
- p_o: specify 'position' or 'order'.
- type_po: choose the filter type from the above options.
- magicnumber: set the magic number (0 for all).
benefits:
- simplicity: consolidates 14 functions into one, streamlining trade management.
- flexibility: allows fine-grained filtering of trades based on type and profitability.
- safety: ensures secure handling of loops to prevent errors.
- versatility: suitable for expert advisors, scripts, and indicators.
technical details:
- deviation = 5: optimal price tolerance for accurate order management.
- iteration from the end: ensures safe deletion of orders.
- local variables: provides query isolation for efficient processing.
incorporate this function into your trading projects for enhanced control and efficiency.
You may also like: mt4 orders - excellent alternative for library 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.