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
Smart Money Manager
Smart Money Manager is a trade-management panel for MetaTrader 5.
GitHub stars19
Forks2
Last update4 days ago15 Oct 2026
LicenceMIT
Overview
Smart Money Manager assists traders by calculating risk-based position sizing from balance, stop-loss distance, and tick value. Users place market and pending orders via a compact on-chart panel with drag-and-drop entry, SL, and TP lines that display lot size and money risk-reward. The EA sets automatic SL from points and R:R ratio. Account protection includes daily loss limits, drawdown guards, loss streak locks, max trades per day, and open risk caps. Filters cover trading hours, spread, and news events. Management functions provide auto break-even, trailing stop, and partial close. The README is detailed with installation steps for MT5.
- Risk-based position sizing
- On-chart SL/TP preview
- Account protection guards
- News and spread filters
- Break-even and trailing stop
Details
Author
Royatvand on GitHub
Type
Trade manager
Platform
MetaTrader 5 (MQL5)
Markets
Forex
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
Topics
forxe-trademetatrader5metatrader5-eamql5risk-managementrisk-management-analysisrisk-management-toolstrading-tools
Input Parameters
Read from Smart_Money_Manager.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
InpRiskPercent | double | 1.0 | Risk per trade (% of balance) |
InpSLPoints | int | 300 | Stop Loss (points) |
InpRR | double | 2.0 | Reward : Risk ratio (0 = no TP) |
InpFixedLot | double | 0.0 | Fixed lot (0 = auto from risk %) |
InpEntryDistance | int | 200 | Pending distance from price (points) |
InpExpiryMinutes | int | 0 | Pending expiry (minutes, 0 = GTC) |
InpUseChartTool | bool | true | Drag entry/SL/TP on the chart before placing |
InpZoneBars | int | 25 | Zone width (bars) |
InpColZoneTP | color | C'16,64,52' | Reward zone color |
InpColZoneSL | color | C'72,26,34' | Risk zone color |
InpMaxDailyLossPct | double | 3.0 | Max daily loss (% of day-start balance) |
InpMaxDailyProfitPct | double | 0.0 | Daily profit target lock (%) |
Show all 40 inputs
| Name | Type | Default | Description |
|---|---|---|---|
InpMaxDrawdownPct | double | 10.0 | Max equity drawdown from peak (%) |
InpMaxLossStreak | int | 0 | Lock after N consecutive losing closes today |
InpMaxTradesPerDay | int | 0 | Max trades opened per day |
InpMaxPositions | int | 3 | Max open positions + pending orders |
InpMaxOpenRiskPct | double | 0.0 | Max total open risk (% of balance) |
InpLockAction | ENUM_LOCK_ACTION | LOCK_SOFT | Action when a limit is hit |
InpUseHours | bool | false | Use trading hours filter |
InpStartHour | int | 8 | Trading start hour (server time) |
InpEndHour | int | 20 | Trading end hour (server time) |
InpMaxSpread | int | 0 | Max spread (points, 0 = off) |
InpNewsLevel | ENUM_NEWS_LEVEL | NEWS_OFF | News filter (MT5 economic calendar) |
InpNewsBefore | int | 30 | Block minutes before news |
InpNewsAfter | int | 30 | Block minutes after news |
InpUseBE | bool | true | Auto break-even |
InpBETrigger | int | 200 | Break-even trigger (points of profit) |
InpBEOffset | int | 20 | Break-even offset (points) |
InpUseTrail | bool | true | Auto trailing stop |
InpTrailStart | int | 300 | Trailing start (points of profit) |
InpTrailDist | int | 150 | Trailing distance (points) |
InpTrailStep | int | 20 | Trailing step (points) |
InpPartialPct | double | 50.0 | Partial close (% of volume) |
InpPopupAlerts | bool | true | Popup alert when a limit is hit |
InpPushAlerts | bool | false | Push notification to mobile |
InpMagic | ulong | 20260512 | Magic number |
InpSlippage | int | 20 | Max slippage (points) |
InpManageAllMagic | bool | false | Manage trades of all magics on this symbol |
InpPanelX | int | 15 | Panel X |
InpPanelY | int | 25 | Panel Y |
How to Install It
- 1Download the sourceUse "Download source (.zip)" above, or clone Royatvand/mql5-risk-manager 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