Is there a tool that can take a 55 pip SL and move to “break even “ when the trade goes into 5 pip profit?
Welcome to Babypips,
There are many EAs (Expert Advisors) that can move the a Stop Loss to breakeven or a predefined number of pips into profit. Some of the EAs are exclusively for moving the SL to breakeven but many also have the functionality to trail the stop loss to lock in additional profit.
A google search such as ‘breakeven ea mt4’ or ‘trailing stop ea mt4’ should bring up some free and paid options.
Is there a EA that can offer these multiple positions?
1- auto place SL
2- auto place TP
3- auto move SL to breakeven
You can search on google and find those answers. I would have to do the same thing to answer that for you.