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Effective Forex Robot - Expert Advisor for Consistent Profits
Unlock the potential of your trading with the "managetpv2-4.mq4" Expert Advisor (EA), a powerful Forex robot designed to enhance your trading experience. This EA is meticulously crafted to optimize profits and manage risk effectively.
With extensive testing on popular platforms like LQDFX and FXOpen, this EA has proven its reliability and compatibility across various brokers. Its versatile design ensures seamless integration with any broker of your choice.
Take advantage of the advanced features embedded in this Forex EA to navigate the dynamic currency markets. Elevate your trading strategies with a tool that prioritizes consistent profits, making it an essential addition to your trading arsenal.
Download "managetpv2-4.mq4" now and witness the impact of this expertly crafted Forex robot on your trading performance. Stay ahead in the Forex market with a tool designed to maximize your trading potential.
managetpv2-4.mq4 5.86 kb, 28 downloads since 2015-04-20
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The managetpv2-4.mq4 EA
The EA's primary strategy is to set Take Profit (TP) levels for open trades and potentially move Stop Loss (SL) levels as the trade progresses. It aims to secure profits when the market moves in favor of the trade and limit potential losses if the market moves against it.
How the EA Works:
When you attach the EA to a chart, it initializes by setting various parameters. These parameters include the initial TP level (First_Target), the TP increment (Target_Increment), the lot size for closing trades (Close_Lots), and more.
Monitoring Open Trades: The EA constantly monitors open trades on the chart. It calculates the difference in pips between the current market price and the trade's open price.
Take Profit (TP) Management: When the pip difference reaches or exceeds the TP level (nextTP), the EA attempts to close a portion of the trade (Close_Lots) at the current market price to lock in profits. It then updates the TP level for the remaining part of the trade.
Stop Loss (SL) Management: The EA can also move the SL levels. If the trade is in profit and the pip difference reaches a certain threshold (First_Stop_Target), it may move the SL closer to the entry price (First_Stop). If the trade is even more profitable and the pip difference exceeds another threshold (Second_Stop_Target), it may move the SL closer again (Second_Stop).
Max Loss Protection: There's an option to protect against excessive losses. If enabled, the EA will close a trade if the pip difference goes beyond a specified maximum loss (Max_Loss).
Magic Number: The EA allows you to specify a "Magic Number" to manage only specific trades with that number or manage all trades if the Magic Number is set to 0.
Spread and Pip Calculation: The EA also considers the spread of the currency pair being traded and accurately calculates the pip difference to make trading decisions.
Settings and Parameters:
First_Target: Initial TP level in pips.
Target_Increment: Increment to adjust TP levels.
Close_Lots: Lot size for closing trades.
Move_Stops: Option to move SL levels.
First_Stop_Target: Pip threshold to trigger the first SL move.
First_Stop: Number of pips to move the SL on the first trigger.
Second_Stop_Target: Pip threshold to trigger the second SL move.
Second_Stop: Number of pips to move the SL on the second trigger.
Use_Max_Loss: Option to enable Max Loss protection.
Max_Loss: Maximum allowed loss in pips.
Magic_Number: Specify a Magic Number to manage specific trades.
How to Use:
Attach the EA to a MetaTrader 4 chart.
Set the desired parameters based on your trading preferences.
Ensure you have open trades on the same chart or other charts with the same currency pair.
The EA will automatically manage TP and SL levels for your trades according to the specified parameters.
managetpv2-4.mq4 5.86 kb, 1 downloads since 2023-11-08
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