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 · MT5
Set Fixed SL and TP EA
Set Fixed SL and TP EA is a management tool for MetaTrader 4 and 5 that automatically monitors open positions and pending orders to apply protective exit levels.
GitHub stars1
Forks0
Last update11 months ago20 Oct 2025
LicenceApache-2.0
Latest release1.0011 months ago
Overview
The utility assigns stop-loss and take-profit values based on user-defined points, specific price levels, or a percentage of the stop-loss. It features granular filtering options, allowing users to target specific magic numbers, order comments, or symbols. Users can choose to overwrite existing exit levels or only apply them to unprotected trades. It includes a graphical panel for quick activation and interval-based checking.
- Automatic stop-loss and take-profit allocation
- Support for points, price levels, or percentages
- Granular filtering by magic number and comment
- Optional overwriting of existing exit levels
- Integrated graphical control panel
Details
Author
EarnForex on GitHub
Type
Trade manager
Platform
MetaTrader 4 (MQL4) and 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.
Topics
calgocbotctraderexpert-advisorforexforex-tradingmetatradermql4mql5mt4
Input parameters
Read from SetFixedSLandTP_EA.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
StopLoss | double | 200 | Stop-loss |
StopLossType | ENUM_SL_TYPE | SL_TYPE_POINTS | Stop-loss type |
OverwriteExistingSL | bool | false | Overwrite existing SL? |
TakeProfit | double | 400 | Take-profit |
TakeProfitType | ENUM_TP_TYPE | TP_TYPE_POINTS | Take-profit type |
OverwriteExistingTP | bool | false | Overwrite existing TP? |
CurrentSymbolOnly | bool | true | Current symbol only? |
OrderTypeFilter | ENUM_ORDER_TYPES | ALL_ORDERS | Type of trades to apply to |
OnlyMagicNumber | bool | false | Modify only orders matching the magic number |
MagicNumber | int | 0 | Matching magic number |
OnlyWithComment | bool | false | Modify only trades with the following comment |
MatchingComment | string | | Matching comment |
Show all 23 inputs
| Name | Type | Default | Description |
|---|---|---|---|
ApplyToPending | bool | false | Apply to pending orders too? |
PriceType | ENUM_PRICE_TYPE | PRICE_TYPE_OPEN | Price to use for SL/TP setting |
ProcessOnceOnly | bool | true | Process each position/order only once? |
CheckIntervalSeconds | int | 1 | Check interval in seconds |
InputEnableExpert | bool | false | Enable EA |
ShowPanel | bool | true | Show graphical panel |
ExpertName | string | SLTP | Expert name (to name the objects) |
Xoff | int | 20 | Horizontal spacing for the control panel |
Yoff | int | 20 | Vertical spacing for the control panel |
ChartCorner | ENUM_BASE_CORNER | CORNER_LEFT_UPPER | Chart corner |
FontSize | int | 10 | Font size |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone EarnForex/SetFixedSLandTPEA from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts or MQL5/Experts.
- 3Copy the filesCopy the .mq4 / .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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