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
Mozar 1
Mozar 1 is a MetaTrader 4 utility that monitors open positions to manage stop loss levels.
GitHub stars1
Forks0
Last update9 years ago4 Dec 2016
LicenceNone stated
Overview
Mozar 1 iterates through active orders on the current chart symbol and identifies buy or sell trades. The tool is designed to apply a user-defined stop loss distance in pips if a trade lacks protection. It utilizes both the standard tick event and a sixty-second timer to ensure frequent checks. The current code is minimal, primarily serving as a framework for basic position monitoring without complex risk management or trade entry functions.
- Automated position monitoring
- Configurable stop loss distance
- Timer-driven execution
- Symbol-specific trade filtering
Details
Author
jinjin123 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
Input parameters
Read from mozar1.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
pip_stop_loss_from_current_position | int | 10 | |
use_stop_loss_from_current_position | bool | true |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone jinjin123/mq4-mozar1 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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