Auxiliary closing tools - MetaTrader 5 experts | Forex indicator downloads - MT4/MT5 resources
two parameters;
The first one sets the stop loss amount, which must be a negative number. Without input, it doesn't work.
The second one is the take profit multiplier based on the stop loss value.
This tool has a drawback, it does not recognize pending orders.
Its advantage is that the set stop loss will default to an order that does not require tool operation, making it convenient for users to hold long-term and short-term orders at the same time.
It has two stop loss methods: one is to set a stop loss for one of the orders to guide the closing of the position.
The second is to use multiple inputs to close a position.
This tool is designed to strictly limit stop losses, especially for those who frequently trade stop losses. If you often stop losses at will, you can use it to restrain yourself.
Tool to align trading session names with broker server time and local time
A combination of many known indicators
Candlestick chart that relates the ask and bid prices to the high and low prices of the candle
Attachment download
📎 auxiliary_closing_tool.mq5 (12.83 KB)
Source: MQL5 #51095
Auxiliary closing tools - MetaTrader 5 experts | Foreign exchange indicator downloads - MT4/MT5 resource usage and screening suggestions
This content can be used as a data entry for foreign exchange EA, indicators, trading systems or quantitative strategies. When reading, it is recommended to make a judgment based on the platform version, trading type, time period, risk control method and historical discussion background. Do not use it directly based on the title or a single point of view.
If the content involves MT4/MT5, ForexFactory, MQL source code, TradingView indicators or strategy discussions, you can give priority to the parameter logic, backtest environment, market stage, execution cost and failure conditions, and then decide whether to continue downloading, reviewing or secondary development.
Risk warning
For any EA, indicator or automatic trading strategy, it is recommended to first conduct historical backtesting, simulation account verification and small capital testing. Grid, Martin, high frequency, recovery and examination strategies especially require setting the account risk upper limit, single variety risk upper limit and manual deactivation conditions.
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