MT4 News Trade Manager is a utility for MetaTrader 4 designed to handle trade exits during high-volatility news events. It automatically applies stop loss and take profit levels to orders and features a break-even function to protect gains. The tool includes specialized Spike Take Profit logic that closes positions bas
Trade manager · MT5
Arko Risk
Arko Risk is an open-source position and risk management utility designed for MetaTrader 5, particularly suited for scalpers and prop firm traders.
GitHub stars1
Forks0
Last update2 weeks ago2 Sep 2026
LicenceMIT
Latest releasev1.502 weeks ago
Overview
Arko Risk does not generate trade signals but provides a graphical interface for designing limit orders with visual entry, stop loss, and take profit lines. The expert manages active positions using a smart break-even logic that accounts for spreads, commissions, and swaps. It includes extensive risk controls such as maximum daily loss limits, overtrading guards, and news-based trading pauses. Users can also utilize trailing stops, partial closes, and automated journaling features.
- Visual limit order designer with draggable lines
- Smart break-even logic accounting for trading costs
- Position sizing based on account balance or equity
- Daily loss and profit target guards
- Automated trade journaling with screenshots
Details
Author
roseshayan on GitHub
Type
Trade manager
Platform
MetaTrader 5 (MQL5)
Strategy
News
Markets
Forex
Timeframes
M1-M5, M15-H1
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.
Topics
forexforex-botforex-marketforex-robotmetatrader5mql5position-sizingprop-firmrisk-managementscalping
Input parameters
Read from ArkoRisk_v150.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
InpV150CoverLiveSpread | bool | true | |
InpV150CoverCommissionAndFees | bool | true | |
InpV150CommissionPerLotRoundTurn | double | 0.0 | account currency / 1 lot; 0 = estimate from history |
InpV150ExtraBreakEvenBufferPips | double | 0.20 | |
InpV150RememberRuntimeControls | bool | true | |
InpV150ShowAdvancedPanel | bool | true |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone roseshayan/ArkoRisk 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, and any .mqh files into the Include folder the code expects.
- 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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