Auto Stop Loss (MT5 Manager) is a robust utility designed to take the stress out of trade management. Whether you are a scalper or a swing trader, this EA automatically applies Stop Loss and Take Profit levels to your trades, secures profits with Break-Even, and maximizes gains with an intelligent Trailing Stop.
This manager works with all trading instruments and allows you to manage specific symbols or multiple pairs from a single chart .
Key Features:
- Automatic SL & TP: Instantly applies Stop Loss and Take Profit levels to market trades and pending orders if they are missing.
- Auto Break-Even (true/false option): Automatically moves your Stop Loss to the entry price (plus a defined offset) once the trade moves into profit, securing your position against reversals.
- Advanced Trailing Stop (true/false option): Features a "Start" parameter, allowing the trailing stop to activate only after the trade has moved a specific distance in your favor, effectively letting profits run before tightening the stop.
- Multi-Symbol Management: Control trades for Multi-symbol using a comma-separated list to manage all trades from a single chart.
- Filtering: Use Magic Numbers to manage specific strategies or leave it blank to manage manual trades.
Input-Settings:
------ Trade Management ------
- Take Profit: The value of Take Profit in pips.
- Stop Loss: The value of Stop loss in pips.
------ Break-even Settings ------
- Auto Break-even: If "true," the Stop Loss will automatically move to break-even.
- Pips in Profit: If the trade moves in your favor by this amount of pips, the stop will move to break even.
- Pips offset: The distance between the stop loss and entry points after reaching breakeven.
------ Trailing Stop Settings ------
- Auto Trailing Stop: If "true," the Stop Loss will automatically move (Trailing).
- Stop: The distance of the stop should be maintained while the trade is either profiting or losing.
- Step: The additional distance the price must travel before the stop is modified.
- Start: Menas that the trade must first reach a certain profit before the stop could be modified.
------ To control Multi Symbols from one chart -------
Symbols (Separate with comma) EURUSD, GBPUSD, ...: If it's empty, the tool will control only the chart attached to it. To control Multi Symbols from one char, just add your symbols separated with a comma. example: EURUSD, GBPUSD, GBPJPY, .....
You can choose any symbol, but ensure that the values for Stop Loss, Take Profit, Breakeven, and trailing stop are appropriate for the symbol. For instance, a 10 Pip Stop Loss is:
EURUSD and other fx pairs: 10
US30 and other Indices: 1000 (IC Markets)
------ Magic Number ------
- Magic Number: keep it 0 for manual trading. (If you want this manager to collaborate with an EA, simply replace 0 with your EA's magic number.
I had an EA that was winning trades but had no risk management. Occasionally it would go into drawdown and wipe out any profits I had made. Couldn't leave it to run un supervised. Now I have " Auto stop loss " running every trade automatically gets a stop loss, take profit and a trailing stop loss and the trade is managed for me. Perfect.