Managing Manual MT5 Trades with Structure Stops and ATR Protection

Summary

This MetaTrader 5 Expert Advisor is a position-management utility for traders who enter trades manually. It does not create entry signals or open positions. For buys, it places an initial stop beyond a recent swing low; for sells, beyond a recent swing high. An ATR buffer is added, and minimum and maximum ATR-distance limits constrain the stop. The calculations use closed-bar data.

After entry, the utility can move stops to breakeven at a configured risk multiple, trail using ATR with separate profiles for gold and selected currency pairs, and optionally set a fixed take profit. Dollar-based protection can lock profit and close a position after a configured giveback from peak net profit. It also offers pending-order protection, spread checks, broker stop-level compliance, and timer-based monitoring across supported symbols.

The default symbol scope is limited to gold and two named FX pairs. The document recommends checking broker conditions and starting on a demo account. It provides no performance results; outcomes depend on entry decisions, inputs, volatility, and execution conditions.

Key ideas

• The Expert Advisor manages manually opened positions and does not generate entries.
• Initial stops use recent swing structure with an ATR buffer and configurable ATR-distance bounds.
• Breakeven, ATR trailing, optional fixed take profit, and dollar-based profit protection are available.
• The default symbol scope covers gold and selected FX pairs, with other symbols ignored.
• The document reports no strategy performance and identifies broker and input settings as important limitations.

Tags

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