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Stop Loss Mover EA
This Ea mechanically moves your stop loss to interrupt even at a predefined level.
Copy Stop Loss Mover into the specialists folder of MetaTrader. Open MetaTrader. Attach Ea to chart once trade has been entered.
On the inputs tab, amendment Move_SL-at to your required worth target. The Ea can move your Stop Loss to interrupt even once worth has achieved that worth.
Stop_Loss_Mover.mq4 2.98 kb, 28 downloads since 2014-10-03
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The Stop Loss Mover EA and its primary function is to automatically move the stop-loss level of open orders to a specified price point (Break Even, or BE) when the market price reaches a predefined level.
EA's Functionality:
+Moving Stop Loss: The main function of this EA is to move the stop-loss (SL) level of open orders to a predefined price when the market price reaches that price.
+Break-Even Level: The EA moves the stop loss to the break-even (BE) level when the market price reaches the specified level defined as "Move_SL_at."
How It Works:
The EA tracks all open orders on the chart where it's applied.
For each open order, it checks if the order's symbol matches the current symbol of the chart.
If the order's stop loss is at its initial level (0), it means that the stop loss hasn't been modified yet.
For buy orders (OrderType()==OP_BUY), if the current highest price (BCP) on the chart exceeds the "Move_SL_at" level, the EA moves the stop loss to the open price (OrderOpenPrice()). It also sends a notification email indicating that the stop loss has been moved.
For sell orders (OrderType()==OP_SELL), if the current lowest price (SCP) on the chart falls below the "Move_SL_at" level, the EA moves the stop loss to the open price (OrderOpenPrice()). It also sends a notification email indicating that the stop loss has been moved.
The EA only moves the stop loss to break even once. If the stop loss has already been moved or set, it will not move it again.
Setting Up the EA:
Add the EA to your MetaTrader 4 platform, and attach it to the chart you want it to work on.
Define the "Move_SL_at" level. This is the price at which the stop loss will be moved to break even. Adjust this value according to your trading strategy.
Open buy or sell orders on the chart.
Once the market price reaches the specified "Move_SL_at" level, the EA will move the stop loss for the open orders to their respective entry prices (break-even).
Additional Information:
The EA also contains commented-out code for modifying the order, which is not used in its current configuration.
It provides some diagnostic information in the comments section of the chart to help you monitor its behavior, such as when the stop loss will move to break even.
In summary, the Stop Loss Mover EA is designed to protect open positions by automatically moving their stop losses to break even when the market price reaches a specified level. This can help you lock in profits and reduce risk.
Stop_Loss_Mover.mq4 2.98 kb, file has never been downloaded.
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