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Optimize Profits with managetakeprofit.mq4 - Reliable Expert Advisor
Enhance your trading experience with managetakeprofit.mq4, a powerful Expert Advisor (EA) designed to optimize profits in the dynamic Forex market. This Forex Robot intelligently manages take profits, providing a robust solution for traders seeking consistent gains.
Tested successfully on brokers like LQDFX and FXOpen, managetakeprofit.mq4 is compatible with various brokers, ensuring versatility in your trading choices. Elevate your trading strategy with this efficient EA, crafted for enhanced performance and results. Explore the potential of automated trading and elevate your Forex game with managetakeprofit.mq4.
managetakeprofit.mq4 7.5 kb, 39 downloads since 2015-04-19
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Managetakeprofit.mq4 Forex EA
This EA is designed to manage your trades by setting targets for taking profits and moving stop losses. It uses a simple strategy to do this.
Setup:
Targets and Lots: You can set your initial target (First_Target) and the increment for each target (Target_Increment). For example, if you set First_Target to 20 and Target_Increment to 20, it means your first target is 20 pips, and it will increase by 20 pips for each target.
Close Lots: You can specify how much of your trade to close when a target is reached. The Close_Lots value represents the percentage of your trade to close.
Move Stops: You can choose whether to move your stop loss when a target is reached (Move_Stops). If enabled, it will modify your stop loss to a certain distance from the entry point.
Stop Loss Settings: You can set your initial stop loss (First_Stop) and the differential (Stop_Differential) for moving the stop loss.
Max Loss: You can set a maximum loss (Max_Loss) for your trade. If the trade goes against you and reaches this loss, the EA will close the trade.
How It Works:
ManageTrade Function: This part of the EA is responsible for managing your trades. It checks the open orders and their types (buy or sell) on the current symbol. It calculates the difference in pips between the open price and the current market price. When the pip value is within a certain range of your target, it closes a portion of your trade based on the Close_Lots percentage. It will also increment the target for the next trade.
MoveStops Function: If the Move_Stops option is enabled, this function is responsible for moving your stop loss when the trade goes in your favor. It checks the open orders, calculates the pip difference, and if it's within a certain range, it modifies the stop loss based on the Stop_Differential value.
KillTrade Function: This part is responsible for closing a trade when it's going against you and reaches the maximum loss defined by Max_Loss.
Opinion and Suggestions:
This EA provides a simple way to manage trades, setting targets for taking profits and moving stop losses. It can be useful for traders who want an automated approach to trade management.
The EA's default settings may not be suitable for all trading strategies. Consider customizing the settings to fit your specific trading style and goals.
managetakeprofit.mq4 7.5 kb, 7 downloads since 2023-11-06
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