Trading Pal MT4
- Utilità
- Versione: 3.6
- Aggiornato: 8 marzo 2026
- Attivazioni: 8
Why choose Trading Pal EA:
This is a EA utility that auto-manage your positions' Stop-Loss (SL) and Take-Profits (TP) dynamically. When opening a single position, it is easy to set the SL and TP manually. But when dealing with multiple positions, it can be very tedious or overwhelming to fill in so many SL and TP values consistently, especially in a short span of time, like in scalping. Over time and after many such trades, trading itself can become a chore. That is where this EA can serve as a pal or assistant in your semi-automated trading journey by handling the unglamorous aspect of trading.
Whether you are trading on your own, or following signals from other providers, sometimes the situation can easily turn frustrating. For example, a potential trade setup is identified with the following information:
Gold Buy: 3328-3325
SL: 3323
TP-1: 3331
TP-2: 3333
TP-3: 3338
You start to layer multiple positions to fill the indicated zone according to your risk management. While still at it, you try to enter the SL and TP of these positions, one by one. Before you can finish, the market accelerates favorably and a Break-Even is called for these positions to be risk-free. Or the price suddenly reverse much beyond your planned SL, and you realize some positions' SL were not set. Needless to say, a lot of other scenes can happen that require the constant updating of the positions' SL and TP, like in consecutive trade setups. Also, it is difficult to set and manually track the TP of multiple positions according to a planned allocation strategy, e.g. 30% for TP-1, 50% for TP-2, and 20% for TP-3.
When SL and TP are not set upfront, there is usually an emotional tendency to let losing positions run and winning positions cut short. With this EA, SL and TP are set accordingly and sent to the broker for a hands-free outcome. When entering with a single but bigger sized position, the opening price is usually not optimized, and subsequent partial closure at different TP prices also require manual attention and execution. So why not let yourself focus on the most important part of opening your positions, then allow this EA to handle the rest of the trade without any human error or emotion. Moreover, when trading using the MetaTrader app on a mobile phone, cell connection can be dropped while travelling, or your attention may be drawn to other matters at hand. And so, it becomes less stressful if you are backed by a trusted companion EA running in the background, knowingly that your SL and TP settings will be handled systematically.
How Trading Pal EA works:
- Smart SL Application:
Automatically applies SL to all open positions if missing, based on either the default level (in pips) or the last position's SL. For the first position's SL, it can be set manually or left empty for the EA to set using the default level. For subsequent positions with no SL, the EA will either, based on input selection, use the exact SL from the last position to fill them in, or set them using the default level. In other words, a specific SL can be set once manually for the EA to use on subsequent related positions. For this feature, buy and sell positions are handled separately. - Flexible TP Allocation:
Distribute TP targets among all open positions using a smart allocation algorithm based on percentage, with support for up to 4 levels (in pips, from lowest level 1 to highest level 4), including a default one, e.g. 30% - 40% - 20% - 10%. For positions with no TP, the EA will fill them using the 4 TP levels according to the allocation percentages defined in the inputs. The EA will also respect a manually set TP, which will be automatically allocated into one of the 4 levels by range; A manual TP can also be marked as a potential loss if it is set negatively below/above the open price for a buy/sell position. In sum, profits-taking can be automated according to a pre-defined set of target levels by percentages, and enhanced manually by setting the TP for any position along the way. For this feature, the allocation algorithm encompasses both buy and sell positions. - Advance SL mode [Auto] - Break-Even, Trailing or Trail-TP (optional):
For all open positions, choose between a fully customizable Break-Even (BE) mechanism to go risk-free, Trailing stop or Trail-TP to lock in profits, as your trade moves favorably. BE is defined using a trigger, and a offset level, measured in pips. Similarly, Trailing is defined using a start, a stop, and a step level, all also measured in pips. To illustrate using a buy position, BE is set when the current price is more than the position's open price by the trigger level, and the stop level is set above the open price by an offset amount; Trailing starts after current price is more than the position's open price by the start input, and the stop level is set at an interval below the current price, which then move upon each step increase in the current price. For Trail-TP, profits are locked in at the 4 different TP levels of each position, i.e. when the current price reaches TP-1 of a position, its SL is moved to BE, then when the current prices reaches the next TP level, its SL is moved to that of the last TP. Each mode in advancing SL can be applied on positions either individually as a buy/sell, or as a layer of buys/sells together. The latter considers the top (for buys) or bottom (for sells) position only when determining whether to advance the SL for the remaining positions. - Order Hotkeys [Manual] (optional):
"Special" pending orders can be used as hotkeys to manually set the SL and TP of all open positions quickly, or close positions above (for buys) or below (for sells) a specific price in bulk, which is very useful when trading on just the MetaTrader mobile app. Imagine when having to shift the TP of multiple positions, the new TP value has to be keyed into each position individually. But with this hotkey function, the new TP value would only need to be keyed once via a pending order serving as a placeholder. For such orders to work, they are specially created at prices that are unlikely to be triggered in the near future. For example, a buy-limit order for XAUUSD can be set at a price of 123, which is so much lower than the current price that chances of it being triggered is almost nil. The price '123' then acts as a code for enabling the hotkey that can be used to set the TP of all buy positions by setting the TP of the buy-limit order correspondingly. For the full explanation of these order hotkeys, see the section below. - Control-Panel [Manual] (optional):
A dialog panel can be enabled for interactive management of all open positions or pending orders on the MetaTrader terminal only. It features direct controls over the SL and TP of the open positions, including a special function for closing them. It also has functions to manage limit or stop orders (that match the input Magic Number). This user interface works on an ad-hoc basis via input edits and button clicks, alongside other automated functions. The control-panel can be minimized when not in use, and its text size can be adjusted via the EA inputs. It can be dragged around to avoid overlapping with other objects on the chart window; Otherwise, re-maximizing the control-panel will bring it on top of the existing chart objects. The states of the applicable controls, e.g. SL and TP edits, on the panel will be retained when switching the symbol's timeframe on the chart, or changing the EA inputs. See the section below for more details on the control-panel functions, together with a few screenshots of its display on the chart. - Dashboard Overlay (optional):
See a summary of your pending orders and open positions that the EA is managing in real-time via a display on the symbol's chart. The mean or average SL and TP of all positions will be computed in pips-per-minimum-lot to reflect the potential loss (if negative) or profit (if positive), and to indicate the current risk and reward ratio. Please see the screenshot of an example dashboard on a symbol's chart, available only on a MetaTrader terminal (not mobile app). - Pip Value Calculation:
Accurate pip distance handling for XAU/GOLD, Bitcoin, Ethereum and Forex majors (including JPY) by default. For other symbols, there is a pip-price factor input that can be set, which has to be confirmed on a demo account first if unsure. For examples, XAU=0.1, BTC=10, ETH=1, JPY=0.01, MajorFX=0.0001. If the pip-price factor is not set on a symbol not mentioned above, the EA will not run, and no dashboard will be shown even if enabled. - Failsafe Execution and Logging:
Built-in retry mechanisms and detailed logging to the Experts tab on a MetaTrader terminal to help you track and debug in case of broker rejections. The EA will log messages with prefix "INFO", "WARN" and "ERROR" respectively. If SL or TP cannot be set, try to adjust the default level or related input.
What to expect of this EA:
- This is a utility EA, so no results will be shown on MetaTrader strategy tester.
- This EA can be run on a home PC or VPS with minimal resources.
- This EA can be restarted (inputs changed, etc.) anytime, and still continue to function thereafter.
- This EA can also be used to manage open positions from other EA by setting the Magic Number input (default 0 is for manual positions).
- This EA does not open nor close positions on its own unless manually instructed via the Control-Panel or Order Hotkey. So for any position that has not touch SL or TP yet, it may incur swap fee or suffer from market gaps overnight.
- Positions can still be manually updated/closed, or pending orders placed/deleted manually, even when this EA is running, which will not affect its operation.
Control-Panel Functions:
- Set the same Stop-Loss (SL) or Take-Profit (TP) price level to all buy or sell positions quickly. For TP input, there are 2 price levels that can be allocated according to an input percentage, e.g. 20% of all positions to TP-1 and remaining 80% to TP-2.
- Set all buy or sell positions to Break-Even (BE) or Trail by pips, which is similar to the corresponding automated functions.
- Change the Advance/Auto SL mode (None, BE, Trailing or Trail-TP) on the fly.
- Close positions above (for buys) or below (for sells) a price margin in bulk quickly, with an option to close only those positions in profit or with losses acceptable. This is slightly different from the bulk close functions that are in-built in MT5, which the native MT4 platform is lacking of.
- Place multiple limit or stop orders quickly across a specified price range, at regular price gaps, to help with position layering in an organized (and preemptive) manner. To avoid input errors, the maximum lots size per pending order, and the maximum quota number per order placement can be set via the EA inputs.
- Delete pending orders whose prices fall within a specified price range in bulk quickly.
- Draw lines or dashes with description on the chart window, to mark key price levels visually with different colors for buy, sell or neither.
Order Hotkeys Explained:
- A Buy-Stop order hotkey is used to set the SL of all buy positions. Set its price much higher than the current price of that symbol, e.g. code 8800 for XAUUSD. As and when needed, set its SL to a specific level below the current price to be 'transferred' to all buy positions. If its TP is non-zero, setting the SL below/equal the current price will cause Break-Even to be set for all applicable buy positions (using the BE offset input). Having the SL above the current price will put the BE hotkey on hold until the current price move above the SL.
- A Buy-Limit order hotkey is used to set the TP of all buy positions. Set its price much lower than the current price of that symbol, e.g. code 770 for XAUUSD. As and when needed, set its TP to a specific level above the current price to be 'transferred' to all buy positions. If its SL is non-zero, e.g. 3.0 or 30 pips, setting the TP below/equal the current price will shift the SL of all buy positions to an amount below the current price by the indicated SL value. Having the TP above the current price will put the trailing hotkey on hold until the current price move above the TP.
- A Sell-Stop order hotkey is used to set the SL of all sell positions. Set its price much lower than the current price of that symbol, e.g. code 770 for XAUUSD. As and when needed, set its SL to a specific level above the current price to be 'transferred' to all sell positions. If its TP is non-zero, setting the SL above/equal the current price will cause Break-Even to be set for all applicable sell positions (using the BE offset input). Having the SL below the current price will put the BE hotkey on hold until the current price move below the SL.
- A Sell-Limit order hotkey is used to set the TP of all sell positions. Set its price much higher than the current price of that symbol, e.g. code 8800 for XAUUSD. As and when needed, set its TP to a specific level below the current price to be 'transferred' to all sell positions. If its SL is non-zero, e.g. 8803.0 or 30 pips more than its price, setting the TP above/equal the current price will shift the SL of all sell positions to an amount above the current price by the indicated SL value. Having the TP below the current price will put the trailing hotkey on hold until the current price move below the TP.
- A pending order of any of the above types with a unique price code is used as a hotkey to change the Auto/Advance SL mode accordingly. If both its SL and TP are zero, no Auto SL mode will be applied. If only its SL is non-zero, the Auto BE mode will be applied. If only its TP is non-zero, the Auto Trailing mode will be applied. If both its SL and TP are non-zero, the Auto Trail-TP mode will be applied. If this order hotkey is deleted or its price changed, the original input mode will be applied.
- A Buy-Limit or Sell-Limit order hotkey with differing price code is used to close positions above (for buys) or below (for sells) a price margin in bulk quickly. For this buy-limit hotkey, its SL value as "multiplied by 10" represents the price margin, so any position whose open price lies above this margin will be closed. The close action will be applied immediately if its TP is set below/equal the current price, otherwise it will be put on hold until the current price move above the TP. For this sell-limit hotkey, its SL value as "divided by 10" represents the price margin, so any position whose open price falls below this margin will be closed. The close action will be applied immediately if its TP is set above/equal the current price, otherwise it will be put on hold until the current price move below the TP.
With order hotkeys, SL and TP of open positions can be managed manually in an assisted manner, which is similar to how they are managed automatically by the Trading Pal EA. In fact, certain hotkey functions can still apply (semi-manual) while the EA works autonomously behind the scene. Also, multiple order hotkeys of the same type and price code can be created, e.g. one Buy-Stop for setting SL, and another for setting BE. In the case of trailing stops, multiple hotkeys can be created beforehand to be applied in chrono order so that as the current price moves, each hotkey gets triggered one after another to advance the SL in stages. Although order hotkeys may seem complicated, using them to manage all positions' SL and TP manually is definitely easier and faster! Even the close-positions hotkey is different from the bulk close function in MT5, and which MT4 is lacking of. For a start, practice them on a demo account first. The EA dashboard will help to show whether a specific hotkey is turned on or off, provided this feature is enabled.
