Automatic Stop-Loss and Take-Profit Management for Open Trades
Summary
The document describes an expert advisor for applying stop-loss and take-profit levels to manually opened positions. It can manage only positions on the chart's pair or positions across all pairs from a single chart. Settings specify the stop and target distances, whether to manage all pairs, and an age limit so the tool can focus on newly opened trades. The described level calculations place protective stops and profit targets on opposite sides of the entry price for long and short positions.
The examples express distances in points and note that the input values differ between four- and five-digit price formats. This is a trade-management utility, not an entry or exit signal strategy: the document does not explain how to choose appropriate distances, evaluate performance, or handle broker-specific stop rules. It provides settings and calculation logic but no backtest or evidence that the chosen values suit any instrument or market condition.
Key ideas
- The advisor can attach stop-loss and take-profit levels to manually opened positions.
- A single chart can control one pair or all pairs, depending on the setting.
- Stop and target levels are calculated from entry price in opposite directions for long and short trades.
- Input distances must account for four- versus five-digit price formatting.
- An order-age setting limits management to recently opened positions.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.