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
Close Position On Profit
This MetaTrader 5 utility functions as a trade manager that monitors open positions for specific profit levels.
GitHub stars1
Forks0
Last update7 years ago11 Oct 2018
LicenceNone stated
Overview
Close Position On Profit automatically closes a position once the floating profit reaches or exceeds a user-defined monetary threshold. The tool operates by scanning symbols in the market watch on every price tick. It automates exits based on absolute currency profit rather than pips or percentages. The repository includes a version that scans all active financial instruments. This expert advisor provides a simple mechanism for locking in gains across multiple symbols simultaneously.
- Automated market order closure
- User-defined monetary profit target
- Multi-instrument position monitoring
- Tick-based profit verification
Details
Author
reuniware 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.
Input Parameters
Read from ClosePositionOnProfit_AllInstruments.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
profitToReach | double | 1 |
How to Install It
- 1Download the sourceUse "Download source (.zip)" above, or clone reuniware/Close-Position-On-Profit-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.
Similar Expert Advisors
Trader Pad is a trade management utility for MetaTrader 5 designed to automate position exits and risk control after an entry is initiated. The software handles stop-loss and take-profit placement in ticks, providing advanced trailing stop logic and break-even functionality. It allows users to scale out of positions th
This trade manager for MetaTrader 4 and 5 automatically adjusts the stop-loss levels of open positions using the Average True Range indicator. It allows users to define the trailing distance through a configurable ATR period and multiplier. The expert advisor includes filtering logic to apply the trailing stop only to
PSAR Trailing Stop is a management utility for MetaTrader 4 and 5 that automates the adjustment of stop-loss levels for open positions. Instead of manual movement, it follows the Parabolic SAR indicator values to lock in profits or minimize losses as a trend progresses. The software includes filtering options to target
This expert advisor is a utility for MetaTrader 4 and MetaTrader 5 designed to manage stop-loss levels for existing trades. It utilizes Bill Williams' Fractals indicator to dynamically adjust the stop loss as new fractal points form on the chart. Users can configure the number of bars to scan and specify which fractal
This visual trade management utility for MetaTrader 5 assists manual traders with order execution and risk management. It features interactive chart lines for entry, stop loss, and take profit levels, allowing for drag-and-drop price adjustments. The system automatically calculates position sizes based on a defined per
Need a Broker for MT5?
Compare regulated brokers that support MetaTrader, with spreads, minimum deposits and leverage side by side.
Compare brokers