Managing trades efficiently means not just entering at the right time — but knowing how to protect your profits. One of the most basic and powerful tools for that is the Break Even stop loss.
In this article, we’ll walk you through how to use the free utility Break Even Helper for MetaTrader 4 and MetaTrader 5, and explain how it can be extended using advanced tools like Smart Trailing Stop Manager.
What is Break Even Helper?
Break Even Helper is a lightweight utility designed for MetaTrader 4 and MetaTrader 5. It automatically moves the Stop Loss (SL) to the entry price once a trade reaches a specific profit level.
This is a non-trading tool: it does not open or close positions. It simply modifies existing open positions when your profit reaches the configured level.
How to Use It
1. Installation
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Download the .ex5 (MT5) or .ex4 (MT4) files directly attached at the end of this article.
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Open MetaTrader → File → Open Data Folder → MQL5 (or MQL4) → Experts → Paste file.
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Restart MetaTrader and find the utility in the Navigator.
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Drag it onto any chart.
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Make sure Algo Trading / AutoTrading is enabled.
2. Input Parameters (v1.10)
| Parameter | Description |
|---|---|
| EnableBreakEven | Turns the break-even function ON or OFF |
| ProfitPips | Profit in pips needed to trigger break-even |
| OffsetPips | Offset in pips added after moving SL to entry (protect partial profits) |
| UseSymbolFilter | Enable filtering positions by symbols |
| SelectedSymbols | Comma-separated list of symbols to apply filter |
| MagicNumber | Filter positions by Magic Number (0 = all positions) |
For example, if ProfitPips = 100 and OffsetPips = 20, when your BUY order reaches 100 pips in profit, the SL will move to entry price plus an additional 20 pips, protecting partial profits.
You can filter trades by symbol or Magic Number, or leave filtering off to manage all open trades.
Who Is This For?
Break Even Helper is ideal for:
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Traders who want a minimal break-even tool
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Users who manage trades manually
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Traders combining multiple tools and need safe SL adjustment
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VPS users who want low resource consumption
Limitations of Break Even Helper
While it works well for basic break-even functionality, it doesn’t include:
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Trailing Stop capabilities
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Auto Stop Loss for unprotected trades
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Partial close logic
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Dashboard visualization
💡 Want More? Try Smart Trailing Stop Manager
If you're looking for a more advanced solution, the premium tool Smart Trailing Stop Manager expands significantly on what Break Even Helper offers.
It supports:
- 7 trailing stop modes (ATR, Risk:Reward, MA, Swing, SAR…)
- Break-even with offset
- Auto SL for unprotected trades
- Partial close based on profit
- Symbol filter and MagicNumber control
- Visual dashboard to monitor logic in real-time
This makes it ideal for:
- Manual traders
- Signal / copier users
- EA users needing better exit logic
You can find both MT4 and MT5 versions directly on the MQL5 Market.
Final Thoughts
If you're starting out and just need a reliable way to protect profits — Break Even Helper is a solid first step. It’s free, clean, and easy to use.
But if you're trading seriously and want better risk control, exit automation, and scalability across assets, Smart Trailing Stop Manager is worth considering.
📌 Notes
- Both tools are fully compiled (no source code), with no DLL or WebRequest usage.
- Compatible with all brokers, ECN or standard.
- Can be run on VPS.
- Make sure only one instance is attached to one chart at a time.
Let your strategy breathe, but protect your profits smartly.
👉 Install Break Even Helper to start simply — and upgrade to Smart Trailing Stop Manager when you're ready.
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## 🔗 Related Products
• Smart Trailing Stop Manager for MT5
• Smart Trailing Stop Manager for MT4
