Close Positions and Remove Pending Orders at Profit or Loss Thresholds
Summary
CloseProfit v2 is described as an expert advisor that closes positions when an aggregate profit or loss reaches a configured threshold. It also removes pending orders when that trigger is reached. A scope setting determines whether the advisor operates across all symbols or only the current symbol, and a magic-number setting filters which positions it manages; a zero value applies to any magic number.
The description notes that visual tester mode opens a buy position and places a buy limit order as a demonstration. It does not explain how profit and loss are calculated, how thresholds interact with individual positions, or how execution costs and slippage affect closure. No backtest results or evidence of effectiveness are given, so this is a description of a risk-control utility rather than a demonstrated strategy.
Key ideas
- The advisor closes positions when a configured profit or loss threshold is reached.
- Pending orders are removed when a threshold triggers closure.
- Settings control whether management applies to the current symbol or all symbols.
- A magic-number setting filters managed positions, with zero applying to any magic number.
- Visual tester mode includes a demonstration buy position and buy limit order.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.