Multi Risk Manager Pro: Take Profit, Stop Loss and Partial Exit Management in MT5 / 4

Multi Risk Manager Pro: Take Profit, Stop Loss and Partial Exit Management in MT5 / 4

A trading plan does not end when an order is opened. Traders also need to decide how to protect a position, take profits at predefined levels, and manage what remains open after a partial exit.

Multi Risk Manager Pro by Mqlexp includes configurable Take Profit and Stop Loss levels, partial-close functionality, and two exit modes designed for different trade-management workflows.

In this tutorial, we will explain how these features work, how to configure them, and what you should know before relying on staged exits in MetaTrader 5 / 4.

MT5 : https://www.mql5.com/en/market/product/201074
MT4 : https://www.mql5.com/en/market/product/201075

Public channel : https://www.mql5.com/en/channels/mqlexp 

Blogs	Description	Link
1	A Complete Trade Management Toolkit for MeteTrader 5 / 4	https://www.mql5.com/en/blogs/post/777677
2	How to Use the 8 Money Management Methods in MetaTrader 5 / 4	https://www.mql5.com/en/blogs/post/777683
3	How to Use the Risk-to-Reward Box in MetaTrader 5 / 4	https://www.mql5.com/en/blogs/post/777775
4	How to Place and Manage Market and Pending Orders in MT5 / 4	https://www.mql5.com/en/blogs/post/777776

1. Understanding Take Profit and Stop Loss Levels

A Stop Loss defines the price level at which a position is intended to exit to limit further loss. A Take Profit defines a target at which a position is intended to close and realize a profit.

Multi Risk Manager Pro allows you to prepare these levels through the chart-based Risk-to-Reward Box and configure their default behavior under:

Setup → Take Profit

Setup → Stoploss

The EA supports up to five Take Profit levels and up to three Stop Loss levels in the documented staged-exit workflow.

Multiple levels can help traders divide an exit into stages instead of closing the entire position at one target.

However, staged exits introduce additional execution and volume constraints. Always verify the resulting levels and volumes before placing the trade.

2. Configure the Default Take Profit Distance

The def_rr setting controls the default final risk-to-reward ratio.

The supplied Settings Reference lists the following values:

• Default: 2.00

• Available range: 0.10–100.00

For example, if the planned Stop Loss distance is 100 points and the final R is 2.0, the final Take Profit target is planned at a distance of 200 points from entry, assuming the same price-distance convention.

This is a planning relationship, not a prediction that the market will reach the target.

The final target can also be configured using a percentage-of-price method. The tp_mode setting selects between R and percentage-of-price distance.

The documented default for tp is 1.000%, with a configurable range of 0.001–100.000%.

Use a method that fits the instrument and trading plan, then inspect the actual target on the chart.

3. Configure Up to Five Take Profit Levels

The number of Take Profit levels is controlled by tp_count.

The supplied Settings Reference lists a default of one level and an available range from zero to five. The number of active levels can also be changed using the TPC control or the documented Shift+T shortcut.

The default R values are:

Level	Default R
TP1	1.0
TP2	2.0
TP3	3.0
TP4	4.0
TP5	5.0

These are default settings, not required targets. You can configure different values to match your own exit plan.

For example, a trader may choose to take some profit at 1R and leave a smaller portion for a later target. Another trader may prefer fewer levels and a simpler exit structure.

The correct arrangement depends on the strategy and its testing results.

4. How Partial Close Allocation Works

In Partial Close mode, each Take Profit level can close a specified share of the original position volume.

The documented default allocation is:

Level	Default share
TP1	50%
TP2	25%
TP3	15%
TP4	5%
TP5	Remaining volume

These percentages are configurable through tp1 to tp4; the final level receives the remaining volume.

Consider a hypothetical position of 1.00 lot with all five targets enabled. Ignoring broker volume-step restrictions, the intended allocation would be:

• TP1: 0.50 lots

• TP2: 0.25 lots

• TP3: 0.15 lots

• TP4: 0.05 lots

• TP5: 0.05 lots

This example illustrates the allocation logic only. Actual partial-close volumes must respect the broker's minimum lot and volume step.

The EA floors each allocation to the permitted volume step. If an allocation becomes too small to execute, it may be merged with a neighboring allocation or marked as skipped.

Therefore, do not assume that every configured level will always result in a separate closing transaction.

5. Partial Close Mode vs. Split Orders Mode

Multi Risk Manager Pro offers two exit modes under exit mode.

Partial Close

Partial Close is the documented default.

In this mode, the EA manages one position and closes the configured portions when earlier Take Profit levels are reached.

The broker holds the final Take Profit. The EA performs the earlier partial exits while it is running and receiving the required price updates.

This mode can be useful when you want to manage a trade as one position while reducing its volume at predefined stages.

Split Orders

In Split Orders mode, the EA opens separate orders for the configured Take Profit levels.

Each order can have its own broker-side Take Profit. The split sync setting controls whether open Take Profit levels follow changes to the chart's Take Profit lines; the documented default is enabled.

The tp setting determines whether applying Take Profit lines to split orders assigns each order its own TP or uses the final TP for all orders.

Split Orders can be useful when you want separate orders associated with different targets. However, broker order limits, volume steps, and account type can affect how the orders are created and managed.

Which mode should you choose?

Choose Partial Close if you prefer one position whose volume is reduced as targets are reached.

Consider Split Orders if you prefer separate positions with their own Take Profit levels.

Neither mode is universally better. Test both with your broker and account type before choosing one for live use.

6. Configure Multiple Stop Loss Levels

Multi Risk Manager Pro supports up to three Stop Loss levels through the SLC control.

The documented default structure is:

• SL1: 50% of the full Stop Loss distance; closes 50% of the original volume.

• SL2: 75% of the full Stop Loss distance; closes 25% of the original volume.

• Final SL: closes the remaining volume.

The relevant settings include:

• sl_count: number of active Stop Loss levels

• sl1_lvl: the first partial-stop distance as a percentage of the full Stop Loss distance

• sl1_pct: the share of the original volume closed at the first partial stop

• sl2_lvl: the second partial-stop distance

• sl2_pct: the share closed at the second partial stop

These settings can be adjusted to suit the intended management plan.

Important: How staged Stop Loss levels are executed

The broker holds the final Stop Loss. The earlier partial-stop actions are executed by the EA while it is running.

If the terminal or EA stops, the intermediate partial-stop logic cannot continue operating. Do not treat the intermediate levels as independent broker-held Stop Loss orders.

The EA also sizes the position using the blended loss across the staged stop levels. Consequently, the calculated volume can differ from a single-Stop-Loss setup using the same nominal risk percentage.

Always inspect the calculated lot and total planned risk after enabling multiple Stop Loss levels.

7. What Happens After a Take Profit Is Hit?

The after_tp setting controls the documented Stop Loss action after a Take Profit level is reached.

Available options are:

• Nothing: Leave the Stop Loss unchanged.

• SL to breakeven: Move the Stop Loss to the entry level.

• SL to previous TP: Move the Stop Loss to the previous Take Profit level.

The supplied Settings Reference lists moving the Stop Loss to breakeven as the default.

These actions can help implement a predefined management plan after a partial exit.

However, moving a Stop Loss does not eliminate the possibility of loss. A breakeven stop may not account for all trading costs, and execution can differ from the displayed price.

8. Lock the Risk-to-Reward Ratio

The rr_lock setting controls whether Take Profit levels preserve their configured R values when the trade plan changes.

When the lock is disabled, Take Profit levels remain at their prices. Changing the entry or Stop Loss can therefore change the effective R.

When the lock is enabled, the Take Profit levels maintain their R values as the trade plan is adjusted. Dragging a Take Profit level updates its R value.

This is useful when you want to adjust the entry or Stop Loss while preserving the intended reward multiple.

The R lock is a planning feature; it does not guarantee that a target will be reached.

9. Hidden vs. Broker-Side Stop Loss and Take Profit

The EA supports hidden Stop Loss and Take Profit management.

With hidden levels enabled, the protective levels are managed by the EA rather than being placed as ordinary Stop Loss and Take Profit values on the broker's server.

This distinction is important.

Broker-side levels: The broker receives the Stop Loss or Take Profit with the order or position, subject to broker rules and execution conditions.

Hidden levels: The EA monitors the price and acts when a configured level is reached.

Hidden levels require the terminal and EA to remain operational. If the terminal, computer, or EA stops running, the EA cannot execute its hidden-level logic.

For this reason, hidden protection should only be used after understanding the operational risk and testing the behavior in a demo environment.

10. Applying Chart Lines to Existing Positions

The APPLY LINES function can apply the selected chart Stop Loss and Take Profit lines to existing positions.

The apl_what setting selects what to apply:

• SL and TP

• SL only

• TP only

The apl_side setting determines which positions are targeted:

• Positions on the line side

• All positions

• Buy positions

• Sell positions

• Profitable positions only

The apl_pend option controls whether the operation also applies to pending orders; the documented default is disabled.

For Split Orders, apl tp determines whether each order keeps its own Take Profit or uses the final TP for all orders.

Before applying lines, confirm which positions will be affected. Applying levels to an existing position can change its protection and planned exit behavior.

11. Managing Partial Closes Manually

In addition to automated Take Profit levels, the Manage tab provides manual partial-close tools.

The documented manual partial-close modes include:

• Percentage of the current position volume

• A specified lot amount

• A monetary amount

The documented default percentage is 50%.

For percentage mode, the EA closes the selected percentage of the current volume. For lot mode, it attempts to close the specified volume. In money mode, the close amount is calculated according to the position's current profit or loss.

A monetary partial close is not necessarily a profit-taking action. If the position is losing, it can close part of that loss.

Minimum lot and volume-step rules also apply. If the remaining volume would be below the broker's minimum, the EA may close the entire position. If the requested partial amount is below the minimum permitted volume, the close may fail.

Always check the remaining position after a manual partial close.

12. A Practical Testing Workflow

Before using staged exits on a live account, follow these steps on a demo account:

1. Start with one Take Profit and one Stop Loss.

2. Verify that the initial lot and risk calculations are correct.

3. Enable a second Take Profit level and test the partial-close behavior.

4. Confirm the allocation of remaining volume at each target.

5. Test the available exit modes separately.

6. Configure the Stop Loss stages and verify the final broker-side Stop Loss.

7. Test the selected after tp behavior.

8. Check how the EA responds when the terminal is restarted or disconnected.

9. Confirm the effect of broker volume steps and minimum lots.

10. Review the trade history and terminal journal after each test.

Do not test hidden or EA-managed protection for the first time on an account where a failed exit could cause a substantial loss.

Conclusion

Multi Risk Manager Pro provides configurable Take Profit and Stop Loss levels, staged exits, partial closes, and separate exit modes to support different trade-management workflows.

Understanding which actions are handled by the broker and which require the EA to remain active is essential. The correct configuration also depends on volume constraints, account type, broker rules, and the intended trading plan.

Use the staged-exit features only after verifying their behavior with your own symbols, broker, and account settings.

Risk disclosure: Trading leveraged financial instruments involves substantial risk. Multiple exit levels and automated management tools do not guarantee profits or eliminate the risk of loss. Test the EA in a demo environment before using it in live trading.