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Stop close only

The script in the form of an expert is created for the possibility of automatic installation of pending orders of the Stop Close Only type, which are not in MT5 by default. This type of order implies entering a long position in case the price closes above a given price level and opening a short position if the price closes below the price set by the trader. At the same time, level breakouts are not taken into account. The expert indicates the levels on the chart with lines, overcoming which will activate the position in one direction or another. If the price closes above or below the specified level. Or activates the stop-loss for the open position.

How to trade using the script? Open the window with the required instrument on the required timeframe. In the interface of the MetaTrader 5 program, enable the “Auto-trade” button. Activate the script with hotkeys or by attaching it to the chart. In the script settings, set the required parameters.

  • BUY & SELL - allow long positions and short positions.
  • Only SELL - allow short positions. The script in this setting can sell and set a stop-loss.
  • Only BUY - allow long positions. The script in this setting can buy and set a stop-loss.
  • Only SL - set a stop-loss for the open position.
  • Magic 2024 - unique expert number.
  • Take profit multiplier - take profit to loss ratio. When entering a position, the expert sets a physical take profit order and accordingly a line where it will be executed. The trader can set it at the desired level by moving the line.
  • Lot - position size Buy color - the color of the price tag indicating the level at which the expert will buy if the price closes above the specified level in the future. The trader can move the price tag at his discretion to the level he considers necessary. The expert will enter a long position when the price closes above the set level.
  • Sell color - the color of the price tag indicating the level at which the expert will sell if the price closes below the specified level in the future. The trader can move the price tag at his discretion to the level he considers necessary. The expert will enter a short position when the price closes below the set level. Show info on the chart - show or hide the parameters of the expert’s work on the price chart.


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Version 5.50 2024.02.19
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