ProAutoSLandDynamicTP
- Experts
-
Khaled Benredjem
WHO I AM:
I am a Quantitative Developer and a seasoned trader with over 10 years of live market experience. I don't just write code; I engineer institutional-grade trading infrastructure. My expertise lies in Medium-Frequency Trading (MFT), Statistical Arbitrage, and Mean Reversion models. - Version: 2.10
ProAutoSL Dynamic TP is a lightweight risk-management Expert Advisor for MetaTrader 5. It monitors eligible open positions and applies missing Stop Loss and Take Profit levels according to the configured parameters.
This Expert Advisor does not open trades and does not generate trading signals. It is designed to protect positions opened manually or by another Expert Advisor.
KEY FEATURES
• Automatic protection for open Buy and Sell positions.
• Optional filtering by Magic Number.
• Optional management of manual trades.
• Optional filtering by position comment.
• Fixed Stop Loss distance in pips.
• Dynamic Take Profit based on the Stop Loss distance and a configurable risk-to-reward multiplier.
• Fixed Take Profit mode when dynamic calculation is disabled.
• Broker Stop Level and Freeze Level protection.
• Price normalization according to the symbol digits.
• Retry handling for temporary trade-server errors.
• One-second timer-based monitoring.
• No DLL files and no external dependencies.
HOW IT WORKS
When the Expert Advisor detects an eligible position without a Stop Loss or Take Profit, it calculates the requested protection levels according to the input settings. Existing SL and TP levels are preserved and are not overwritten. The requested prices are normalized and checked against the broker's minimum distance requirements before modification.
POSITION FILTERS
Magic Number:
Set this parameter to -1 to manage all positions on the chart symbol. Enter a specific Magic Number to manage only positions opened by a particular Expert Advisor.
Comment Filter:
Leave empty to ignore the comment. When text is entered, only positions whose comments contain that text are managed.
Manual Trades:
Enable this option to manage manually opened positions with Magic Number 0.
TAKE PROFIT MODES
Dynamic TP:
When enabled, Take Profit is calculated using the Stop Loss distance multiplied by the selected risk-to-reward multiplier. The current spread is also taken into account.
Fixed TP:
When dynamic TP is disabled, the Expert Advisor uses the configured fixed Take Profit distance.
IMPORTANT INFORMATION
This utility is a position-management tool. It does not open trades, modify existing SL/TP levels, provide trading signals, or guarantee profitability. Trading involves substantial risk. Test the utility on a demo account and verify the behavior with your broker before using it on a live account.
The behavior of Stop Level, Freeze Level, execution rules, and trade-server responses may differ between brokers and symbols.
TECHNICAL DETAILS
The program is written in pure MQL5 and uses the standard MetaTrader 5 trading library. It does not use DLLs, external services, or Martingale and Grid logic.
