This risk management tool for MetaTrader 4 and 5 calculates optimal lot sizes based on user-defined risk parameters, account balance, and currency. It provides a graphical user interface for setting entry, stop loss, and take profit levels visually on the chart. The expert advisor accounts for commissions, swaps, and m
Utility · MT4
GE Close Open
This collection for MetaTrader 4 provides utility scripts for trade management and execution.
GitHub stars1
Forks2
Last update8 years ago20 Oct 2017
LicenceNone stated
Overview
The primary tool, GECloseOpen, automates the process of closing existing positions with a specific comment and opening a new trade. It calculates lot sizes based on a user-defined percentage of account equity. Users can specify manual trade directions or use an automatic mode that flips the direction of the prior trade. The repository also features standalone scripts for market execution with risk-based sizing. The README is minimal and focuses on basic usage instructions.
- Equity-based risk percentage lot sizing
- Automatic reversal of prior trade direction
- Tagged order management and closure
- Dedicated buy and sell risk scripts
Details
Author
maverusfxt on GitHub
Type
Utility
Platform
MetaTrader 4 (MQL4)
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Trades without a fixed stop loss
Input parameters
Read from GECloseOpen.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Risk | double | 1.0 | Account Risk |
OrderType | string | AUTO | Order Type (AUTO=Opposite of prior trade) |
ClosePrv | bool | TRUE | Close all previous GE Trade(s)? |
inst00 | string | NULL | Instructions: |
inst10 | string | NULL | Risk is the percent of account (1.0%) |
inst11 | string | NULL | based upon Account Equity. |
inst20 | string | NULL | Order Types: Auto, Buy, Sell. |
inst30 | string | NULL | Enable Auto Trading to use this script. |
inst40 | string | NULL | If no Active GE Trades and Order Type |
inst50 | string | NULL | is Auto, a Buy order will be created. |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone maverusfxt/mql 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.
- 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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