Risk Management EA - MetaTrader 4 Expert | MT4 EA Download - MetaTrader 4 Resources

You need to do your own TA for best results. You decide the direction in which the EA will trade (you can go long or short, but hedging does not work) and the EA will wait until the setup occurs and trade for you. The EA looks at trading volumes and levels and decides where to place a trade.

The level and length correspond to the level and length of the pullback. The longer the length, the more it will shrink, and the larger the level, the deeper the pullback it will look for.

The closing profit and loss is the maximum floating profit and loss before the EA closes all positions.

Profit and risk limits are the parameters you need to specify how much profit/risk you want to achieve on a given signal.

The capital parameter will be set to your balance before attaching the EA, you may need to change it if you have floating losses or profits, but the default value of 0 will assume your initial balance before attaching the EA.

The hedging feature will not work if you trade multiple currency pairs, so it will not hedge anything. If you only trade one pair and want to use the hedging feature, be sure to turn off multi-pair trading. The hedging feature will hedge your position once it reaches the hedging level, which means the percentage of your remaining risk, up to a specified ratio.

Maxsize is the maximum position that the EA will expand to, layers is the number of positions you want to expand Maxsize to. For example, if you want to buy a tool for 1 lot and scale it 10 times, then Maxsize = 1, Layers = 10

Attachment download

📎 riskmanager.mq4 (8.3 KB)

Source: MQL5 #43715