Using an MT4 or MT5 Script to Move Stops to Breakeven

Summary

This document describes a MetaTrader script for moving the stop-loss on one or more open positions to each position’s entry price. A stop at that level aims to prevent the trade from turning into a loss before accounting for costs, while leaving it open to gain further if the market moves favorably. The stated benefit is convenience when managing multiple positions, a task that would otherwise require adjusting each stop manually.

The document explains the breakeven concept but gives no performance evidence, detailed parameters, or guidance on how the script handles trading costs, gaps, or broker restrictions. A stop at the entry price does not guarantee a zero net result, and it may close a position before a later favorable move. The script is presented as a trade-management utility compatible with MT4 and MT5, rather than as a tested entry strategy.

Key ideas

• A breakeven stop places the stop-loss at the position’s opening price.
• The described script can adjust stops for one or more positions.
• Automating stop changes can reduce the manual effort of managing many open trades.
• A stop at entry does not account for trading costs or guarantee a net-zero outcome.

Tags

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