Position Exit Manager for MetaTrader 5
- Utilities
- Version: 1.0
- Activations: 5
POSITION EXIT MANAGER is a manual exit panel for MetaTrader 5. It draws a table of every open position on your chart and puts the exit actions you would otherwise click through the terminal onto buttons. It does not open positions, it does not give signals, and it does not make any claim about what a market will do.
It is a trailing stop, a break-even stop, a take profit and a stop loss manager for MetaTrader 5, and a position close tool. From one panel over your open trades you can set a trailing stop on all of them, move every stop to break-even, set a take profit and a stop loss on every position at once, and close every position, only the losers, only the winners, or a chosen share of the open profit with the smallest winners closed first. It shows the risk per trade and the R multiple of each position while it does it.
WHAT IT SHOWS
A table of every open position: the symbol, the side, the volume, the entry price, the stop and the target the position carries, and the profit or loss in the account currency.
The R column is the part worth trying. The R multiple is the profit as a multiple of the risk the position was opened with. The first time the panel sees a position it records the distance between the entry price and the stop that was in place at that moment, and it keeps that figure, so moving the stop later does not rewrite the history. The result is a running measure of the position against the risk it actually carried, which is what lets you compare a trade on one symbol with a trade on another.
WHAT THE BUTTONS DO
They move every stop to break-even, trail every stop by a fixed distance, set a stop and a target on every position, close everything, close only the losers, close only the winners, and close a chosen share of the open profit with the smallest winning positions closed first.
WHAT IT DOES NOT DO
It does not open positions, it does not give signals, and it does not make any claim about what a market will do. It only changes the levels on positions that are already open, and only when you press a button. Any order it sends is checked, and an order the server refuses is reported rather than left silent.
REQUIREMENTS
MetaTrader 5 build 2000 or later. It uses the standard library that comes with the terminal, so there is nothing extra to install.
There is a free demo of this panel, which is the same thing with the buttons limited to demo accounts, so you can try it on your own positions before you buy it.
