Closing a Currency Pair Basket at Profit or Loss Thresholds

Summary

The document describes an MQL4 script for managing open positions across a configured basket of currency pairs. The script checks positions against the defined pairs and order types, then closes qualifying positions when their profit exceeds a specified threshold or their loss passes a specified limit. It also includes basic initialization, shutdown, and tick-handling functions, plus a routine that prints strategy information.

This is a basket-level trade management tool rather than a signal-generation or entry strategy. Its practical behavior depends on which pairs and order types are included, how the profit and loss thresholds are set, and how the platform reports position results. The text gives no threshold values, trading results, or details about execution failures, slippage, or how simultaneous positions are handled. It therefore explains the intended control logic but does not establish that the script is profitable or suitable for a particular account. The description advises use at the operator's own risk.

Key ideas

• The script monitors open positions belonging to a configured basket of currency pairs.
• It closes positions when their profit or loss crosses configured thresholds.
• The script manages exits and does not describe how positions are entered.
• The document provides no performance results or threshold values for evaluating the approach.
• Basket composition and threshold settings determine how the exit logic behaves.

Tags

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