MQLTA Close at Target Line

The Close at Target Line (CATL) advisor will help you manage your orders. It shows desired profit/loss targets, notifies when price is reached and automatically closes orders.

How does he work?

In the CATL settings, you can specify profit or loss in the account currency. The indicator will then analyze open orders across the chart pair, apply filtering if necessary, and then calculate the target price level to achieve the specified profit or loss. You can then be notified when the price is reached and choose whether to close your positions automatically.

How to use an expert

Select the initial settings when loading the advisor, filtering settings, colors, location and notifications. Turn on notifications first to make sure your settings are correct. Turn on automatic close. If the conditions are met, you will receive a notification and orders will be closed (depending on the settings).

Why should you use the TLI indicator?

The Close at Target Line Advisor is a very useful tool because:

It calculates the price level that needs to be reached

Graphically indicate goals

Ideal for multi-order/hedging strategies

Will send notifications and alerts

Automatically closes orders at the desired level

How to test

Since the advisor works with open orders, it cannot be tested.

Notifications

In CATL you can configure the sending of notifications:

By email

Via mobile application

Using pop-up alerts in the MetaTrader terminal

Notes

Due to some double rounding and approximations, the target price may not be accurate to the nearest cent. However, the formula applied is designed to be as close to the desired profit/loss as possible.

Expert Advisor parameters

• MQLTA - Close at Target Line
• EA Name (used for the panel) - the name of the advisor used for the panel. Prefix for created graphic objects; it is recommended to leave the default value.
• Order filtering settings
• Consider Orders - take into account a specific type of orders, possible values: BUY, SELL or ALL (all)
• Filter By Magic Number - filtering by magic number, true or false
• Magic Number (if above is true) - if filtering by magic number is enabled, specify the required magic number here
• Settings for spread, expenses, profit and loss
• Use Custom Spread - use analysis with the specified spread value, true or false.
• Custom Spread (in Points) - if a custom spread value is used, enter the required value in points here.
• Ignore Commission - ignore commission costs, true or false
• Ignore Swap - ignore swap, true or false
• Show Price for a Profit(+) or Loss(-) (0=Break Even) of - desired profit or loss (or zero value for breakeven) in the account currency
• Slippage (in Points) - slippage to close orders in points
• Notification and close settings
• Notify/Close if Price is - notify/close orders if the price is above (ABOVE) or below (BELOW) the line
• Send Alert Notification - if true, alerts will be shown (pop-up notifications in the MetaTrader terminal)
• Alert Sound (wav in the Sounds Folder of MetaTrader) - name of the audio file that will be used in alerts
• Send Notification to Mobile - if true, push notifications will be sent to the mobile device
• Send Notification via Email - if true, messages will be sent by email
• Repeat Notification - single (ONCE) or multiple (REPEAT) repetition of notifications
• Notification Interval - notification repetition frequency, 1, 5, 15, 30, 60 minutes
• Positioning and colors
• Draw Line - if true, the target line will be drawn
• Line Color - line and text color
• Lines Style - line style (solid, dotted)
• Corner to show the labels - panel location
• Horizontal offset (pixels) - horizontal offset of the panel from the border in pixels
• Vertical offset (pixels) - vertical offset of the panel from the border in pixels
• Line Tag Position - position of the line tag relative to the line and the last candle
• Close Buy Color - color of the buy arrow
• Close Sell Color - sell arrow color

As always, I try to improve my products. So if you have any suggestions please contact me.