Equity SL and TP Pro
Simplified version (free): https://www.mql5.com/en/market/product/60056
The Pro-Version of „Equity SL and TP“ that can close all (or only certain) of your open positions at once if your equity reaches a defined profit or loss in percent or as amount in your account currency. You can set up conditions for certain positions that should be managed exclusively. The utility will calculate the profit only for the positions which meet the conditions and will close them if one of the closing condition (equity SL or TP) is met.
By placing the utility on multiple charts at the same time with different settings you can achieve very creative setups. If you have specific requirements for your trading account, you can message me and I will tell you if it can be achieved with this utility.
How to use it:
Place the utility on any chart that provides continuous ticks. I recommend to use EURUSD. Set the inputs to your needs. You can double-check them at the dashboard.
I tried to make the inputs as self-explanatory as possible. If something is unclear, please message me.
- All conditions can be enabled or disabled independently
- Equity SL and TP in account currency or percent
- Emergency SL - if equity falls below a defined value
- Ignore positions that do not meet the conditions - by symbol (not case-sensitive), direction (buy, sell or both), comment (case-sensitive) and/or magic number
- Deleting pending orders (conditions for ignoring positions do also apply)
- Dashboard for double-checking the setup and for details
You can run a visual Backtest. The utility will provide buttons which allow you to place different types of test-trades. This way you can test most of the features. These buttons are not available for live execution.
The test-trades have these properties:
- Lot: 0.1
- Magic: 1000
- Comment: "test"
- Pendings: 400 Points (40 Pips) above or below price
To avoid any mistakes in your setup, I recommend to test your desired settings at a demo account as well before going live.
- If the market is closed for a symbol the position for this symbol will not be closed when equity SL or TP was triggered. The EA will close only the positions for which trading is possible.
- The Utility cannot prevent an EA from reopening a position.
- The Utility does not work with Signals. The Signal-Service will always reopen positions, which the Utility can not prevent.
- Not every EA can be managed effectively with this utility.
- It is NOT a replacement for setting a Stop-Loss!
- There is no slippage-limitation.