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Time Based Close

FREE

Published: 9 May 2025

Current version: 1.612

Time Based Close

Utilities
Hiu Fung Lau
Version: 1.612
Updated: 4 June 2025

Time Based Close - Automated Trade Management EA

Overview
Time Based Close is a powerful and user-friendly Expert Advisor (EA) designed for MetaTrader 4 (MT4). It automates trade management by closing positions based on a user-defined holding time, while also protecting your account with a dynamic drawdown control feature. Whether you're a beginner or a seasoned trader, this EA simplifies your trading strategy and helps you manage risk effectively.

Key Features

Time-Based Closing: Automatically close trades after a specified holding time (default: 29 minutes, adjustable).
Drawdown Protection: Monitor and manage drawdown with a customizable percentage trigger (default: 30%) to close all trades when the threshold is reached.
Interactive Panel: Intuitive on-chart panel to toggle features (Hold Time, Drawdown), adjust settings, and monitor real-time stats like balance, equity, and drawdown.
Credit Adjustment: Accurately calculates drawdown by accounting for broker credits, ensuring precise risk management.
Symbol Filtering: Supports specific symbols or all symbols, with optional suffix compatibility for brokers.

Benefits

Risk Management: Protect your account from excessive losses with automated drawdown control.
Time Efficiency: Automate trade closures based on time, freeing you from manual monitoring.
User-Friendly: Easy-to-use panel with real-time updates, perfect for traders of all levels.
Broker Compatibility: Tested and optimized for brokers like IC Markets and Vantage International Group Limited.

Use Cases

Ideal for traders who prefer time-based strategies, such as scalping or day trading.
Perfect for managing risk during volatile market conditions with drawdown protection.
Suitable for traders using brokers with credit bonuses, ensuring accurate drawdown calculations.

How to Use

Attach the EA to any MT4 chart.
Configure the settings via the input parameters or the on-chart panel:
- Set your desired holding time (e.g., 29 minutes).
- Define your drawdown trigger percentage (e.g., 30%).
- Choose the symbol filter (leave empty for the chart symbol or enable "Close All Orders").
Enable the "Hold Time" and "Drawdown" features via the panel (default: Hold Time OFF, Drawdown ON).
Monitor your trades and account stats directly on the panel.

Notes

Ensure "Allow Live Trading" is enabled in MT4 for the EA to function.
Test the EA on a demo account first to familiarize yourself with its features.
For optimal performance, use on a VPS to ensure uninterrupted operation.

Support
Have questions or need assistance? Contact us via the MQL5 platform, and we’ll be happy to help you optimize your trading with Time Based Close!

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