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Autostop.mq4 - Powerful Forex Expert Advisor for Reliable Trading
Autostop automatically sets a pre set take profit and stop loss on all orders that lack the selected stop(orders without sl/tp or both).This enables quicker opening of orders especially if you use a common take profit, stop loss or both for all orders of a current pair.
Autostop.mq4 3.04 kb, 31 downloads since 2014-09-29
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Discover AutoStop EA: Your Forex Safety Net!
AutoStop EA is pretty straightforward. When you open a trade, it calculates and sets a take profit (TP) and stop loss (SL) level for you. Take profit is where you'll cash in your profits, and stop loss is where you'll limit your losses. This EA takes the guesswork out of it, so you don't have to constantly monitor your trades.
Setting up AutoStops:
Download the "Autostop.mq4" file.
Open your MetaTrader 4 (MT4) platform.
Go to "File" > "Open Data Folder" > "MQL4" > "Experts."
Copy the downloaded .mq4 file into the "Experts" folder.
Restart MT4 or refresh the Navigator panel.
Adjustable Parameters:
MonitorTakeProfit: Set to "true" to monitor take profit (TP) levels.
MonitorStopLoss: Set to "true" to monitor stop loss (SL) levels.
TakeProfit: Set your desired TP level in pips.
StopLoss: Set your desired SL level in pips.
Currency Pair: Works with any pair, but you can start with a major pair like EUR/USD.
Timeframe: Suitable for various timeframes, try it on 1-hour or 4-hour charts.
Minimal Balance: Start with at least $100 in your trading account.
Currency Pair: EUR/USD
Minimal Balance: $100
Timeframe: 1-hour or 4-hour charts
Parameter Settings:
MonitorTakeProfit: true
MonitorStopLoss: true
TakeProfit: 30 pips
StopLoss: 30 pips
How to Optimize Settings:
For TP and SL levels, consider the volatility of the currency pair. Higher volatility may require wider TP and SL.
Test different values in a demo account to find the best settings that suit your trading style and risk tolerance.
Keep an eye on market news and events that might affect your chosen currency pair.
AutoStop is a user-friendly EA that helps you trade forex more confidently. It takes care of setting TP and SL levels automatically, making your trading experience smoother and less stressful. Just set it up, find the right settings for your preferred currency pair and timeframe, and let it do the work for you. Happy trading!
Autostop.mq4 3.04 kb, 4 downloads since 2023-11-16
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