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Partial close, set Stoploss, Takeprofit and breakeven
Here there are an EA that can help you in your trading, it can close partial, set your first stoploss and take profit and move the stop to breakeven after the move of x pips.
It is work very fine for me.
TrailingPartialClose.mq4 10.88 kb, 36 downloads since 2016-10-12
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Get in on the Action with TrailingPartialClose EA!
https://mt4talk.com/viewtopic.php?pid=27811#p27811
The TrailingPartialClose EA is a powerful tool designed to help you optimize your forex trading. It employs several key strategies to manage your trades effectively:
Trailing Stop Loss and Take Profit:
This EA dynamically adjusts your stop loss and take profit levels as the market moves. It aims to lock in profits by trailing the stop loss and capturing gains with take profit orders.
Partial Close:
The EA gives you the option to partially close your positions. This means you can secure a portion of your profits while keeping the rest of the trade open. This strategy allows you to mitigate risk and safeguard your earnings.
Break-Even Lock-In:
To protect your capital, the EA can move your stop loss to break-even once a trade is in profit. This ensures that if the market reverses, you won't end up losing money.
The EA also provides valuable information on your trading chart, such as stop loss and take profit levels, making it easier for you to monitor your positions and stay informed.
The TrailingPartialClose EA is particularly well-suited for traders who want to adopt the following strategies:
Trend Following:
If you prefer to ride trends and maximize profits during strong market moves, this EA can help you by dynamically adjusting stop loss and take profit levels as the trend develops. The partial close feature is useful for locking in profits during extended trends.
Risk Management:
For traders who emphasize risk management, the EA's break-even lock-in feature is invaluable. It ensures that your trades have a safety net, reducing the potential for significant losses.
Intraday Trading:
If you're an intraday trader who seeks to capture shorter-term price movements, the TrailingPartialClose EA's ability to automate stop loss and take profit adjustments can save you time and help you execute your strategies more efficiently.
Scalping:
Even scalpers can benefit from this EA. The partial close feature allows you to secure gains quickly, and the trailing stop loss can help you extract more profit from short-term price fluctuations.
The TrailingPartialClose EA empowers you with versatile tools that cater to different trading styles. Whether you're a trend follower, risk manager, intraday trader, or scalper, this EA can enhance your trading strategy by automating critical aspects of trade management.
To get started, follow these steps:
Download the mq4 file for TrailingPartialClose EA.
Install it in your MetaTrader 4 platform.
Adjust the following parameters to tailor the EA to your trading preferences:
MainStopLoss: Set your desired stop loss in pips.
MainTakeProfit: Specify your take profit level in pips.
Slippage: Set the slippage tolerance.
PartialClose: Enable or disable partial close.
PartialPercent: Set the percentage of the position you want to close during partial close.
PartCloseAtpips: Define the number of pips to reach before initiating partial close.
BreakEvenAtpips: Set the number of pips required before moving to break-even.
BrkEvenLockInPips: Specify the lock-in pips after reaching the break-even level.
ShowInfo: Toggle on or off to display information on your chart.
TextColor: Choose the color for the displayed information.
FontSize: Set the font size for the displayed text.
WhatCorner: Choose the corner of your chart where information will be displayed.
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