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 · MT4
Break Even Take Profit
This MetaTrader 4 expert advisor acts as a trade manager designed to automate the protection of open positions.
GitHub stars1
Forks0
Last update4 years ago29 Jun 2022
LicenceNone stated
Overview
The utility monitors active orders and adjusts stop loss levels to a break-even point or manages take profit targets based on logic contained within its internal class. It operates using both tick events and a one-minute timer to ensure consistent monitoring of market prices. The project features a minimal README and lacks exposed input parameters in the primary file, indicating a streamlined or hard-coded management approach.
- Automated break-even price adjustment
- Tick and timer-based monitoring
- MetaTrader 4 position management
- Object-oriented MQL4 implementation
Details
Author
andhoo on GitHub
Type
Trade manager
Platform
MetaTrader 4 (MQL4)
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
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone andhoo/BreakEvenTakeProfit from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 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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