Trade Management MT4
- Utilità
- Versione: 1.8
- Attivazioni: 5
Introduction
- Simple & Straightforward Trade Management that manages trades.
- Ideal for managing low numbers of trades with Precision.
- Classic way of managing trades through price levels.
- No Disruptive Panel to complicate charts.
- EA automatically removes itself upon completion of all functions.
Main Function
- Once Trade has been placed as Pending Orders or Market Orders, attach this Trade Manager to any chart to manage the trades.
- Using the Instrument Symbol and Last 4 digits in the inputs section, EA will identify that specific trade.
- Setting of Take Profit levels, percentage to take off, and adjustment of stoploss automatically.
- Breakeven Mode functions independently, with Offset functions.
- Removal of Pending Trades upon Price targets prior to entry as Safeguard Mechanism.
- Cross Symbols Take Profit Mechanism.
Inputs Explanation
Instrument Symbol
- Symbol of trade to managed as listed by your broker on Market Watch.
- Eg. XAUUSD, EURUSD, NAS100.
Last 4 digits of ticket (0000 = disabled)
- Identifies the exact trade, take the last 4 digit numbers of the default 8 Digit Order Number.
- Eg, 56332123, key in 2123.
Original Lot Size (0 = auto-detect)
- Base lot size for % calculations, Leave at 0 to auto-detect, important because the lot size shrinks after each partial close, but percentages should always be based on the original size.
- The lot size used as the basis for all TP percentage calculations.
- To be used when you removed the trade manager accidentally and want to manage the trade again.
TP 1 Price (0 = disabled)
- The first price level to take profit. 0 disables that level.
- If Order is a Buy Order, it uses Bid Prices.
- If Order is a Sell Order, it uses Ask Prices.
TP 1 Percentage (%)
- Percentage of original lots to close at that level.
- For example, initial lots is 1.00 lots, and value set at 50, upon reaching TP 1 price, 0.5 lots will be closed based on the calculations.
TP 1 Stop Loss Mode
- Action on SL once TP hits.
- None.
- HFSL (Half the distance of Current Stop Loss position to Price Level).
- BE (Breakeven).
- HFTP (Place Stop Loss at half the distance from Market Order to TP price).
TP 2 Price (0 = disabled)
- (Same as TP 1 function but now as Take Profit 2)
TP 2 Percentage (%)
- (Same as TP 1 function but now as Take Profit 2 Percentage)
- Do note that it is still based on Original Lot Size.
- For Eg. TP1 partial 0.5 lots from 1.00 lots with TP 1 Percentage 50, of TP 2 Percentage is set as 30, when TP 2 Price hits, 0.3 lots will be calculated from 1.00 lots, thus 0.3 lots will be taken from 0.5 lots, hence remaining 0.2 lots now.
TP 2 Stop Loss Mode
- (Same as TP 1 function but now as Take Profit 2 Stop Loss Mode)
- Addition Stop Loss Mode as TP1 (If selected, stop loss will be moved to TP1 price level.
TP 3 Price (0 = disabled)
- (Repeated)
TP 3 Percentage (%)
- (Repeated)
TP 3 Stop Loss Mode
- (Repeated)
- Addition TP2.
Breakeven Mode RR trigger (0 = disabled)
- Risk to Reward multiple that activates Breakeven Mode.
- For Eg, initial stop loss is 5 pips, is value is set to 2, meaning risk to reward 2x. Once price reaches 10 pips, price set to Breakeven (Based on Breakeven RR Value).
- Do note that the the first instance of Stop loss placed will be used for calculation for Risk to Reward, regardless of new Stop loss positions later on.
- (If stop loss is higher profit or lesser loss from the TP Stop Loss Mode, this Breakeven mode will not be triggered).
Breakeven RR - SL target (0 = entry)
- Where SL moves to: 0 = entry
- A positive number = lock in that many R of profit.
- A negative number = trim the loss without going fully to breakeven.
- For Eg. set to 0.5 instead of 0, stop loss moves in favour 0.5 R from Entry.
- For Eg. set to -0.5 instead of 0, stop loss 0.5 R in loss from Entry.
- Breakeven RR can be set to any value, but the EA's non-regression rule means a new stop loss is only applied if it is strictly better than the trade's current stop loss.
- In practice, this prevents Breakeven Mode from moving your stop loss to a worse position than where it currently sits.
Invalidation Price (0 = disabled)
- Cancels pending order if price hits this level before entry.
- If Pending Order is a Buy Order, it uses Bid Prices.
- If Pending Order is a Sell Order, it uses Ask Prices.
TP Symbol (Market Watch)
- Second symbol to monitor for exit trigger.
- Function independently of TP 1,2,3 prices.
TP SYB Price - Bid trigger (0 = disabled)
- Bid price on TP Symbol that triggers partial close.
- For Example, Order is on EURUSD, however second symbol is keyed in is USDX, once USDX bid prices reaches the TP SYB Price for USDX such as 99.09, EURUSD will take partial based on TP SYB Percentage.
TP SYB Percentage (%)
- Percentage of original lots to close on TP Symbol trigger.
- Based on first Initial lots as well similarly to TP1,2,3.
TP SYB Stop Loss Mode
- SL action on trigger: None / HFSL / BE / TP1 / TP2 / TP3.
- Do note that stop loss would not be triggered if stop loss is already at a more favourable position.
Notes:
I use this EA personally and am constantly upgrading it, and improving the versions, if there are bugs, suggestions, or improvements you would like to make, please leave me a message.
Please remember to click the AutoTrading Button at the Panel shown in the second picture, as well as ticking Allowing Live Trading in the Trade Management EA.
Disclaimer
This Expert Advisor (EA) is a trade management tool only — it does not generate entry signals and does not place new trades. It is designed to manage trades that have already been placed by the user, whether as Market Orders or Pending Orders.
Trading Forex, CFDs, and other leveraged instruments carries a high level of risk and may not be suitable for all investors. Past performance, backtest results, or strategy outcomes are not indicative of future results. The use of this EA does not guarantee profit and does not eliminate the risk of loss.
The buyer is solely responsible for:
- Testing the EA thoroughly on a demo account before live use.
- Verifying input settings are correct for their intended instrument, broker, and strategy.
- Monitoring their own trades, as no software can guarantee uninterrupted operation (e.g. due to platform disconnection, broker server issues, internet outages, or VPS downtime).
The seller is not a licensed financial advisor, and nothing in this EA or its documentation constitutes financial advice. The seller is not liable for any trading losses, missed trades, incorrect order management, or other damages arising from the use of this EA, whether due to user input error, broker-side execution issues, or unforeseen market conditions.
By purchasing and using this EA, the buyer acknowledges they have read and understood this disclaimer and accept full responsibility for their own trading decisions.
