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Close Manager EA for MetaTrader 4
Introduction:
The Close Manager EA is an essential tool designed to streamline trade closure processes in MetaTrader 4. This expert advisor is crafted to efficiently manage trade closures initiated manually or by other EAs using a set of diverse and customizable criteria. It aims to provide traders with enhanced control over their trades, optimizing exit strategies for better risk management and trade performance.
You can find the MT5 version here
Key Features:
Capture Logs (SHOW_LOGS): Enable or disable capturing logs for detailed trade closure analysis.
Magic Number (ENABLE_MAGIC_NUMBER, MAGIC_NUMBER_INPUT): Identify and manage trades by a specific magic number, allowing seamless integration with manual and automated trading.
Delete Pending Orders (DELETE_PENDING_ORDER_AFTER, DELETE_PENDING_ORDER_AFTER_BARS): Define the duration or number of bars after which pending orders should be automatically deleted.
Profit and Loss Management (PROFIT_AMOUNT, LOSS_AMOUNT, PROFIT_PERCENT, LOSS_PERCENT): Set fixed or percentage-based profit and loss amounts for trade closure, facilitating automated profit-taking or loss limitation.
Close After N Candle (CLOSE_AFTER_N_CANDLE): Specify the number of candles after which trades should be closed automatically.
Max Drawdown Control (MAX_DRAWDOWN_PERCENT, MAX_DRAWDOWN_AMOUNT): Implement safeguards against excessive drawdowns by defining maximum drawdown percentages or fixed amounts.
Maximum Trades Per Day (MAX_TRADES_PER_DAY): Limit the number of trades executed per day to manage trade frequency and exposure.
Daily, Weekly, and Monthly Targets and Stops (DAILY_STOP, DAILY_TARGET, WEEKLY_STOP, WEEKLY_TARGET, MONTHLY_STOP, MONTHLY_TARGET): Set specific daily, weekly, and monthly stop or target levels for disciplined trading.
Functionality:
The Close Manager EA provides traders with a wide range of customizable options to automate trade closure based on varied criteria. It ensures that trades are managed efficiently and strategically according to predefined parameters. With the ability to handle different trade closure scenarios, this EA empowers traders to enforce disciplined trading practices and risk management strategies.
Conclusion:
The Close Manager EA for MT4 is a vital tool for traders seeking precise control over trade closures. With its diverse settings and automated functionality, it enables traders to execute predefined exit strategies accurately and efficiently. Embrace the power of automated trade closure and optimize your risk management practices by deploying the Close Manager EA in your MT4 platform today!
Disclaimer:
It’s advisable to thoroughly test the Close Manager EA in a demo account before live deployment. The EA developer bears no responsibility for any financial losses incurred while using this product. Trade responsibly and ensure compatibility with your trading strategy and risk tolerance before using it in live trading environments.
