TRADE MANAGEMENT EA

This EA will feature limit orders for taking profit (TP). I prefer limit orders because they have little to no slippage as opposed to the EA closing trade automatically when TP level is reached.

ONCE AGAIN THE SIZE OF THE SL CONTROLS ALL THE CALCULATIONS!

The EA will auto detect the spread from Market Watch when trade is opened. All trades will be opened manually. EA will not open trades!

The EA will have the following settings;

TP1 (Limit Order):

TP1 % Closed: 25/50/75

TP2 (Limit Order):

TP2 % Closed: 25/50/75

SL to Breakeven:

Breakeven Plus (pips):

Push Notification: True/False

Screen Alert: True/False

TP1/TP2 % Closed can be dropdowns with 25/50/75 options

NOTE: THE REMAINING LOTS IN THE TRADE WILL BE MANAGED MANUALLY

Example

EA settings: TP1 = 2, TP1 % Closed = 50, TP2 = 3, TP2 % Closed = 75, SL to Breakeven = 2, Breakeven Plus = 2

EA auto detects Spread = 1.9

BUY trade opened with SL = 24 pips, 0.9 lots

TP1 = (2 x 24) + 1.9 = 49.9 pips

TP1 % Closed = 50% x 0.9 = 0.45 lots

Trade has 0.45 lots open

TP2 = (3 x 24) + 1.9 = 73.9 pips

TP2 % Closed = 75% x 0.45 = 0.3375 = 0.34 lots (Round Off)

Trade has 0.11 lots open

So when EA attached to the chart this is what happens;

EA will open 2 SELL limit orders (Since this trade is a BUY)

First SELL limit order will 49.9 pips away from entry, the SELL limit order will be for 0.45 lots

Second SELL limit order will be 73.9 pips away from entry, the SELL limit order will be for 0.34 lots

The remaining 0.11 lots still open after TP2 is reached will be managed manually

When trade is 48 pips (2 x 24) in profit EA will move SL to Breakeven plus 2 pips

THIS IS IMPORTANT

If the SL is hit any limit orders still open will be closed! This also applies if SL is at Breakeven and it’s hit any open limit orders will be closed.

For a SELL trade the EA will open BUY limit orders.

PLEASE MAKE SUGGESTIONS TO MAKE EA BETTER. IF ANY OF THE ABOVE IS NOT POSSIBLE PLEASE MAKE SUGGESTIONS TO ACHIEVE THE SAME RESULT.

THANK YOU