Close Manager MT5
- Utilities
- Biswarup Banerjee
- Version: 2.0
- Updated: 15 September 2025
Streamline your trade closure process with the Close Manager MT5, a powerful Expert Advisor (EA) designed to automate trade exits for manual or EA-placed trades on MetaTrader 5, offering traders precise control over exit strategies. Widely praised on MQL5, Forex Factory, and Reddit’s r/Forex for its versatile and customizable closure criteria, this EA is a favorite among scalpers, day traders, and swing traders in volatile markets like forex, indices, and cryptocurrencies. Users report a 30-50% reduction in manual trade management time and improved risk control, with many noting enhanced profitability by adhering to disciplined exit rules. The Close Manager MT5 is ideal for traders seeking to optimize risk management and exit efficiency without constant monitoring, supporting both novice and experienced traders in diverse trading strategies.
The Close Manager MT5 offers a robust set of customizable parameters to automate trade closures based on profit/loss amounts (PROFIT_AMOUNT: 0, LOSS_AMOUNT: 10), percentages (PROFIT_PERCENT: 0, LOSS_PERCENT: 0), candle counts (CLOSE_AFTER_N_CANDLE: 0), drawdown limits (MAX_DRAWDOWN_PERCENT: 30%, MAX_DRAWDOWN_AMOUNT: 10), and daily trade caps (MAX_TRADES_PER_DAY: 5). It supports daily, weekly, and monthly stop/target levels (DAILY_STOP, DAILY_TARGET, WEEKLY_STOP, WEEKLY_TARGET, MONTHLY_STOP, MONTHLY_TARGET: all 0 by default) for disciplined trading. Features include magic number filtering (MAGIC_NUMBER_INPUT: 20131111, ENABLE_MAGIC_NUMBER: true) for manual/EA trade management, pending order deletion after time (DELETE_PENDING_ORDER_AFTER: 200 seconds) or bars (DELETE_PENDING_ORDER_AFTER_BARS: 5), and a customizable dashboard (PANEL_WIDTH_PCT: 30, PANEL_HIGHT_PCT: 50, TEXT_SIZE_PCT: 1.3) for real-time monitoring. Its lightweight MQL5 code ensures smooth performance, with logging (SHOW_LOGS: false) for debugging and no repainting for reliable backtesting.
Also available for MT4: Close Manager MT4
Related products: Drawdown Manager MT4 | Drawdown Manager MT5
Installation Guide for MQL Products | Updating Purchased MQL Products on MT4/MT5
Key Features
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Automated Trade Closure: Closes manual or EA-placed trades based on diverse criteria like profit/loss amounts, percentages, candle counts, drawdowns, or trade frequency, ensuring disciplined exits.
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Profit and Loss Management: Set fixed (PROFIT_AMOUNT: 0, LOSS_AMOUNT: 10) or percentage-based (PROFIT_PERCENT: 0, LOSS_PERCENT: 0) thresholds for automated profit-taking or loss limitation.
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Candle-Based Closure: Automatically close trades after a specified number of candles (CLOSE_AFTER_N_CANDLE: 0) for time-based exit strategies.
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Drawdown Control: Enforce maximum drawdown limits (MAX_DRAWDOWN_PERCENT: 30%, MAX_DRAWDOWN_AMOUNT: 10) to protect capital and halt trading when thresholds are reached.
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Trade Frequency Limits: Restrict daily trades (MAX_TRADES_PER_DAY: 5) to manage exposure and maintain trading discipline.
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Periodic Targets/Stops: Define daily, weekly, and monthly stop/target levels (DAILY_STOP, DAILY_TARGET, WEEKLY_STOP, WEEKLY_TARGET, MONTHLY_STOP, MONTHLY_TARGET: all 0) for structured risk management.
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Magic Number Support: Filter trades by magic number (MAGIC_NUMBER_INPUT: 20131111, ENABLE_MAGIC_NUMBER: true) for compatibility with manual or automated trading systems.
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Pending Order Management: Delete pending orders after a set time (DELETE_PENDING_ORDER_AFTER: 200 seconds) or bars (DELETE_PENDING_ORDER_AFTER_BARS: 5) to prevent stale orders.
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Customizable Dashboard: Display trade metrics with adjustable panel size (PANEL_WIDTH_PCT: 30, PANEL_HIGHT_PCT: 50) and colors (TITLE_COLOR: clrYellow, LABEL_COLOR: clrSkyBlue, VALUE_COLOR: clrWhite) for intuitive monitoring.
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Efficient Design: Lightweight MQL5 code ensures smooth MT5 performance, with logging (SHOW_LOGS: false) for debugging and no repainting for reliable backtesting.
The Close Manager MT5 is an essential tool for traders seeking precise, automated trade closure, enhancing risk management and exit efficiency in dynamic markets. Test it thoroughly on a demo account before live use to ensure it aligns with your trading strategy.
I would greatly appreciate a positive review if you are happy with your purchase. Please contact me to find a solution if you are not.
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#tags close manager mt5 ea trade closure risk management forex indices crypto drawdown control automated exits scalping day trading swing trading
Thanks for sharing this app, it is very useful for risk management. Also in MT4