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A Global Take-Profit Expert Advisor with Time-Based Position Closing

Article MQL5 code base
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Summary

The document describes an Expert Advisor that manages open positions as a group. It closes all positions when their combined profit exceeds a user-set threshold, measured either as a percentage of the account deposit or in deposit-currency units. This offers a portfolio-level exit rule rather than requiring each position to reach its own target.

The advisor can also close positions according to configured start and end times. Its default schedule spans the day and closes positions near the end of the session; when the start time falls later than the end time, closing is scheduled for the following day. The document explains the available settings but provides no performance results, backtest, or discussion of how profit is calculated across different instruments. It also does not describe safeguards such as position selection, execution handling, or behavior when markets are closed. These limits matter when adapting the tool to a live trading account.

Key ideas

  • The advisor closes all open positions when their combined profit reaches a configured threshold.
  • The profit threshold can be specified as a percentage of account deposit or in deposit-currency units.
  • A configurable time window can govern when the advisor closes positions.
  • If the configured start time is later than the end time, the close time falls on the following day.

Tags

Risk managementPosition sizingExecution

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.