RiskProtect MT5

Parameters Explained

Algorithm Settings:

1. magicNumber (int):

   • Unique identifier for trades managed by the EA.
   • Default value: 0 (manages manual trades).
   • Note: Set this to the corresponding magic number of trades opened by other EAs or set it to 0 for manually executed trades.

2. BreakEvenInPoints (bool):

   • Activates the breakeven strategy based on profit in points.
   • true: Moves Stop Loss to breakeven when the trade reaches the specified ProfitPointsForBreakeven .
   • false: Disables this function.

3. ProfitPointsForBreakeven (int):

   • Number of points in profit required to move Stop Loss to breakeven.
   • Default value: 500 .

4. BreakevenInRiskReward (bool):

   • Activates breakeven logic based on a risk-reward ratio.
   • true: Stop Loss moves to breakeven when the profit equals the risk times the RiskReward .
   • false: Disables this function.

5. RiskReward (double):

   • Specifies the risk-reward ratio for the breakeven logic.
   • Default value: 1 (breakeven at a 1:1 risk-reward ratio).

Risk Management Settings:

6. PercentageClose (double):

   • Percentage of the total position volume to close when breakeven criteria are met.
   • Default value: 80 (80% of the position is closed).
   • Notes:
     • If set to 100 , the entire position is closed.
     • If set to 0 , no partial closure occurs.

7. NumberPointsAboveBreakEven (int):

   • Number of points above the breakeven level to set the new Stop Loss after partial closure.
   • Default value: 10 .
   • Notes:
     • If set to 0 , the Stop Loss is set exactly at breakeven.

Testing Parameters (For Strategy Tester):

8. inpStopLossSizePointsTest (int):

   • Simulated Stop Loss size in points for backtesting.
   • Default value: 500 .

9. inpTakeProfitSizePointsTest (int):

   • Simulated Take Profit size in points for backtesting.
   • Default value: 1000 .

10. inpVolumeTest (double):

    • Simulated trade volume for backtesting.
    • Default value: 1.0 .

How the EA Works

1. Trade Identification:

   • The EA identifies trades based on the magicNumber .
   • Trades with the specified magic number or manual trades (magic number = 0) are managed.

2. Breakeven Management:

   • If BreakEvenInPoints is enabled, the EA moves the Stop Loss to breakeven when the trade reaches the profit threshold defined by ProfitPointsForBreakeven .
   • If BreakevenInRiskReward is enabled, the Stop Loss moves to breakeven when the profit reaches the risk times the RiskReward ratio.

3. Partial Closure:

   • Once breakeven criteria are met, the EA closes a portion of the trade volume based on PercentageClose .
   • The remaining position's Stop Loss is adjusted by adding NumberPointsAboveBreakEven points above the breakeven level.

4. Profit and Risk Management:

   • Ensures profits are secured while allowing the remaining position to run.
   • Dynamically adjusts Stop Loss levels to protect the remaining trade.

Key Notes and Warnings

• If both BreakEvenInPoints and BreakevenInRiskReward are set to false , the EA will automatically disable itself.
• Ensure that a Stop Loss ( SL ) and Take Profit ( TP ) are set for all trades; otherwise, the EA will not manage the positions.
• Verify NumberPointsAboveBreakEven is within a reasonable range (not exceeding TP or contradicting the market price).

This EA provides robust trade management, combining breakeven strategies and partial closure to enhance profitability while minimizing risk.