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High-Performing Forex EA: Buy with SL and TP
Unlock the potential of your trading with this exceptional Expert Advisor, coded as "buy with sl and tp.mq4". Crafted for success, this Forex Robot executes trades with precision, optimizing your trading experience.
Designed for compatibility across various brokers, including LQDFX and FXOpen, this EA ensures flexibility and reliability. Elevate your trading strategy with the power of automation, leveraging the expertise embedded in every trade.
Maximize gains and minimize risks effortlessly - integrate "buy with sl and tp.mq4" into your trading arsenal today. Experience the difference of a strategic approach to the forex market with this cutting-edge Expert Advisor.
buy with sl and tp.mq4 2.43 kb, 27 downloads since 2015-04-22
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Download the Buy with SL and TP EA + get the recommended settings!
This EA (Expert Advisor)s primary strategy is to enter buy positions in the Forex market. It offers two buying options: a market order (if Entry is set to 0) or a pending order (if Entry is set to a specific price). The EA also allows for the opening of a second position if desired.
How the EA Works:
If you choose to use money management (UseMoneyMgmt), the EA calculates the lot size for your trades based on your account balance and risk percentages (RiskPercent1 and RiskPercent2). It also takes into account the chosen Stop Loss levels and the tick value of the selected currency pair.
Depending on the current market conditions and your input, the EA can place either a Buy Limit or Buy Stop order (OP_BUYLIMIT or OP_BUYSTOP). If Entry is set to a specific price greater than the current Ask price, it places a Buy Limit order; otherwise, it places a Buy Stop order. If Entry is set to 0, it places a market order.
The EA calculates the Stop Loss and Take Profit levels for your orders. You can enable or disable these features (UseStop1, UseTakeProfit1, UseStop2, UseTakeProfit2) based on your preference. It sets Stop Loss (SL) and Take Profit (TP) levels for both the first and, if applicable, the second position. The SL and TP levels are determined by the Entry price and the predefined distances (StopLoss1, StopLoss2, TakeProfit1, TakeProfit2).
After determining the lot size, order type, and SL/TP levels, the EA sends the order to your trading platform. It also records the trade details, making it easier to manage your trading strategy.
If you enable the "OpenSecondPosition" option, the EA can open a second buy position with its own SL and TP levels, providing additional trading opportunities.
How to Set Up the EA:
Load the EA into your MetaTrader platform.
Configure your desired settings:Set "OpenSecondPosition" to true or false based on your preference.
Adjust lot sizes using "Lots1" and "Lots2."
Enable or disable money management with "UseMoneyMgmt."
Set your desired risk percentages with "RiskPercent1" and "RiskPercent2."
Choose to use or ignore Stop Loss and Take Profit levels with the respective options.
Define your preferred Stop Loss and Take Profit distances using "StopLoss1," "StopLoss2," "TakeProfit1," and "TakeProfit2."
Set "Entry" to 0 for a market order or specify a price for a pending order.
Let the EA do the rest! It will automatically calculate lot sizes, order types, SL, and TP levels based on your settings.
For a winning setting, consider using the following parameters:
OpenSecondPosition: true
Lots1: 0.5
Lots2: 0.5
UseMoneyMgmt: true
RiskPercent1: 1.5
RiskPercent2: 1.0
UseStop1: true
UseTakeProfit1: true
UseStop2: true
UseTakeProfit2: true
StopLoss1: 100
StopLoss2: 100
TakeProfit1: 200
TakeProfit2: 150
Entry: 0.0000
buy with sl and tp.mq4 2.43 kb, 2 downloads since 2023-11-09
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