Metatrader 5: Auto Stop Loss / Take Profit

Trading Systems Expert Advisors and Automated Trading
1

Hey,

is it possible to set up automatic stop loss / take profit limits? I don’t see any option in metatrader which can provide this kind of functionality. Unfortunately I neither found any eas. Can someone help me please?

2

Once your trade is open, and you see it in the window in the “trade” tab at the bottom of the platform, right click it. A task window will pop up with some options.

Choose “modify”, and select it. Another window will open with the options to set your S/L, and T/P.

3

Sorry but this doesn’t answer my question. Is there a way to do this automatically?

4

Since my solution “automatically” took profit, or triggered a stop when one or the other was reached, I don’t know how it doesn’t answer it.

A “script” is most likely what you are looking for. There may be one already installed on your broker’s platform. If not, search the MQL5 directory.

1 Like
5

Ok I didn’t expressed myself properly. I am not looking for a semi-automatic solution I am rather looking for a full-automatic solution. I want to be SL / TP set up immediately without setting it up afterwards.

So I think an EA is needed. Unfortunately there aren’t a lot of EAs for Metatrader 5 and I could not find nothing in the internet. Does someone has something like that?

6

There is an EA builder in MT5 which can enter trades for simple criteria like an RSI level. Plus there are some on the web.

7

BruceBanner: If you’re looking for an automatic solution, the script Buy with stop loss and take profit might be what you’re looking for.

If you always use the same stop loss and take profit, merely edit those values in the code to meet your requirements. Read through the description, download Buy_SL_TP.mq4, follow the directions to put the script in the correct location. Also note, there is a companion sell script as well that is set up the same way.

I just noticed that you’re looking for something for MT5. The scripts are written in MT4 so there may be some minor differences you’ll have to adapt if you want to use the code. I don’t use MT5 so no code is available for that platform.