Prop Firm Close All Orders

Now, you have your very own PROP FIRM AUTO-CLOSER program! Once your account target or drawdown hits, all open orders will close automatically.

“One mistake and your prop account is gone. Prop Firm Close All Orders for MT4 ensures that never happens.”

All of your OPEN ORDERS will automatically close when:

• Your ACCOUNT TARGET is hit, OR
• Your specified ACCOUNT DRAWDOWN is hit, OR
• WEEKEND CLOSE is set and current time is already past the specified time, OR
• CLOSE ALL ORDERS button was clicked.

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INPUTS (Please see screenshot for reference):

1. Account target (exact amount): Put the exact account target. Once the equity hits your specified account balance target, all open orders will close. Make sure to add some buffer to consider slippage.

DRAWDOWN COMPUTATION SETTINGS

2. Baseline for drawdown: Choose whether the drawdown is based from Balance, Equity or Highest of the two. It depends on your prop firm or what you need.

3. Use fixed value or percentage: Choose whether the drawdown uses a fixed value or a percentage deducted from what was chosen from #2.

4. Drawdown percent [0 to 100]: Only if #3 is percentage, set the drawdown percent. If you need 5% drawdown, make sure to add some buffer like bring it down to 4.75% to account for any slippage. 

5. Drawdown fixed value: Only if #3 is fixed value, set the fixed amount for your drawdown. Some prop firms will use 5% of initial balance so better to add a fixed drawdown value.

OTHER SETTINGS:

6. Reset frequency: You can choose when the baseline is updated to (1) never reset, (2) reset daily, or (3) reset on every new highest balance or equity.

7. Reset hour (Only if daily reset): Specify the exact hour when the reset happens. Most prop firms and brokers resets at 00:00 server time.

8. Close charts when target or drawdown hit: Choose whether you also want to close all charts after it closed all trades.

You can choose to (1) close all charts, (2) close all charts except for the one where the EA is running, or (3) don't close any charts at all.

WEEKEND CLOSURE SETTINGS:

9. Close on weekends?: Set to yes, if you want all open trades to close before weekends while the market is still open. Some firms has a rule about weekend closing.

10. Closing day: the day the trades will close. Default is Friday.

11. Closing hour: exact hour the trades will close. Default is the last hour or 23.

12. Closing minute: if current day is correct as well as the closing hour and the current minute is equal or more than the closing minute, then all open trades will close.

ALERT SETTINGS:

13. Send MT4 mobile alert: Set to yes, if you want a mobile notification after the account target or drawdown is hit. Make sure to update Notifications on your terminal.

Go to TOOLS >> OPTIONS >> NOTIFICATIONS tab. Add your MT4 mobile MetaQuotes ID to receive the notifications.

14. Send MT4 terminal alert: Set to yes, if you like to get an alert on your MT4 terminal after the account target or drawdown is hit.

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With the NEW FEATURE of RESET EVERY NEW HIGHEST BALANCE OR EQUITY, traders can now think of it as a trailing stop for your account balance. More helpful on personal accounts.

For example, if a trader has $10000 account and set balance as baseline for drawdown to 10%, the drawdown value moves as the balance goes up. Initial drawdown is set at $9000 since 10% is $1000.

When account balance goes up to $12000, then the drawdown value will be set automatically to $10800 since 10% is now $1200.

When account balance goes up to $15000, then the drawdown value will be set automatically to $13500 since 10% is now $1500.

And so on...

Giving you the best trailing stop on your account.

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Add it like an expert advisor on a EURUSD chart or the chart of the market you're trading.

Make sure that automated trading is enabled on these 3 locations.

1. Tools >> Options >> Expert Advisors. Make sure that Allow automated trading is checked.
2. AutoTrading button on top is enabled.
3. After adding the PropFirmCloseAllOrders on the chart, under Common tab, make sure that Allow live trading is checked.