This MetaTrader expert advisor functions as a trade manager that automates stop loss adjustments for existing positions. It specifically waits until a trade reaches a user-defined profit threshold in points before initiating a trailing stop. The tool includes flexible filtering options to manage specific symbols, magic
Trade manager · MT5
AR Position Management BW MT5
AR Position Management BW is a trade manager for MetaTrader 5 that automates protective stop loss adjustments for existing positions.
GitHub stars2
Forks0
Last update1 year ago22 Oct 2024
LicenceNone stated
Overview
The expert advisor monitors open trades and applies trailing stops based on either Bill Williams Fractals or Moving Average calculations across selectable timeframes. It features a configurable break-even trigger that adjusts the stop loss to the entry price once a specific risk-to-reward ratio is achieved. Users must manually initiate trades as the software does not possess entry logic. The repository includes basic controls for smoothing methods and price types.
- Fractal based trailing stop functionality
- Moving average exit logic
- Adjustable break-even ratio
- Customizable point offsets
- Multi-timeframe indicator monitoring
Details
Author
Andrukas8 on GitHub
Type
Trade manager
Platform
MetaTrader 5 (MQL5)
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from AR_Position_Management_BW_MT5.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
TimeFrame | ENUM_TIMEFRAMES | PERIOD_H1 | Time frame |
TslOffsetPoints | int | 20 | Points above/below the MA |
breakevenRatio | double | 1 | Break Even Ratio |
MaPeriod | int | 8 | MA Period |
MaShift | int | 5 | MA Shift |
TslMaMethod | ENUM_MA_METHOD | MODE_SMMA | MA Method |
TslMaAppPrice | ENUM_APPLIED_PRICE | PRICE_MEDIAN | MA Price |
fractalsTSL | bool | false | |
movingAverageTSL | bool | false |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Andrukas8/AR_Position_Management_BW_MT5 from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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