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Close all trades at preset price level

  • #1
  • First Post: Jul 15, 2008 4:47am Jul 15, 2008 4:47am
Does anyone know where i can find an EA which will close all open or open and pending orders at a preset price level.
Thx

Cobra
Never Ever Give Up!
  • #2
  • Jul 15, 2008 7:19am Jul 15, 2008 7:19am
I think the swiss army EA does that.
  • #3
  • Jul 15, 2008 10:00am Jul 15, 2008 10:00am
Thx. Will check it out!
Never Ever Give Up!
  • #4
  • Jun 28, 2021 4:37pm Jun 28, 2021 4:37pm
That is pretty old thread but still the same question remains - is there a simple EA to close all open trades when the price on the chart where that EA is applied reaches a certain level? There are dozens of scripts and EAs to close trades/pendings at predetermined profit or loss but I did not find anything which would close all open and pending orders on all charts once the price reaches a specific level on that 'main' chart only?

It seems like a pretty obvious tool to use when trading correlated pairs in particular.

Possibly some EA with hundreds of options, like Steve Hopwood's or Swiss Army EA can do it but I am looking for something simple to manage, with literally one option - at which price to close everything.

Anyone, please?
  • #5
  • Jun 28, 2021 10:29pm Jun 28, 2021 10:29pm
Quoting nonameatall
That is pretty old thread but still the same question remains - is there a simple EA to close all open trades when the price on the chart where that EA is applied reaches a certain level? There are dozens of scripts and EAs to close trades/pendings at predetermined profit or loss but I did not find anything which would close all open and pending orders on all charts once the price reaches a specific level on that 'main' chart only? It seems like a pretty obvious tool to use when trading correlated pairs in particular. Possibly some EA with...
is there a simple EA to close all open trades when the price on the chart where that EA is applied reaches a certain level?

1. All open trades? on that pair only or ALL open trades on ALL pairs, gold, Dow30?

2. A certain level? Why do you need an EA? Just drag the Take Profit line to that level, that will be the exit.

what's wrong with what has already been developed, used, and working for years now?

maybe the learning curve is too steep

It takes a lot for me to IGNORE you, but you can try.
  • #6
  • Edited 11:35pm Jun 28, 2021 11:04pm | Edited 11:35pm
when you trade a couple of highly correlated pairs, the 'main' one dictates what the second one will do. Once the main one reaches the end of the current move, the second one will stop. Where it stops is not necessarily clear from its own chart, it is dictated by the major.

An example now would be USDCAD and EURCAD. This tool would stop ecad trade once ucad reached the end of a drop, kind of proxi take profit tool for the second chart.

Which one would do it from 'working for years' from your knowledge?
  • #7
  • Jun 29, 2021 12:05am Jun 29, 2021 12:05am
Quoting nonameatall
when you trade a couple of highly correlated pairs, the 'main' one dictates what the second one will do. Once the main one reaches the end of the current move, the second one will stop. Where it stops is not necessarily clear from its own chart, it is dictated by the major. An example now would be USDCAD and EURCAD. This tool would stop ecad trade once ucad reached the end of a drop, kind of proxi take profit tool for the second chart. Which one would do it from 'working for years' from your knowledge?
Okay, I see the situation. You want to close all other positions based on your main pair, even if the other pairs might be in a loss.

How many trades are you have open at one time?

What is stopping you from putting a stop loss and take profit when the trades are open for each pair?

Are you using an EA to open trades perhaps?

You must have some sort of plan for risk management, trade size, long or short?

Cheers
It takes a lot for me to IGNORE you, but you can try.
  • #8
  • Edited 12:58am Jun 29, 2021 12:43am | Edited 12:58am
let's say I am trading 2 pairs, today it is ucad and ecad. I want to stop ecad sales once ucad reaches what I believe is the end of a drop. there are multiple entries. i have tp on ucad but i have no clue which price it will correspond on ecad so when ucad reaches its tp I want to close everything that i have, all market and pending orders on all charts, which is 2 now. same as close all script is doing. I am not sure I will be around when it happens so this tool will do it for me.

maybe it can be a script which will close all, not necessarily ea, i am not sure. the only control would be entering the price level on the main chart where this global close of everything occurs.

it is pretty convenient for trading correlated pairs.

again, I don't like tools with hundreds of options, this could be something very light. I am a bit surprised that there is nothing based on price as far as I was searching, all the available EAs are closing based on profit/loss. the first post in this thread was 13 years ago...
  • #9
  • Edited 1:16am Jun 29, 2021 12:56am | Edited 1:16am
Quoting nonameatall
I am looking for something simple to manage, with literally one option - at which price to close everything. Anyone, please?
Today may be your lucky day. There is almost a ready solution to your problem. Namely, user Nicholishen has provided us with a "Maximum overkill Close-All script" here: https://www.forexfactory.com/thread/...ose-all-script

Now, what we have to do still, is create an EA that will monitor price and incorporate the script into the EA.
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  • #10
  • Jun 29, 2021 1:22am Jun 29, 2021 1:22am
It is good to be lucky. I don't know what is better, I like the idea of EA more - you can drop it on the chart and see in the corner that it is active vs script when you don't know if it is there or not but I am not sure which is easier to code - obviously I am no coder.

So, if it is something not super time consuming maybe you could try it, please? I am sure many manual traders will find it useful.

Again, I am a bit surprised that there is no simple option floating around based on price. I have few EAs closing trades on profit/loss, equity percentage etc but nothing like close all based on price of one specific chart only.

In reality multiple charts are breathing together so once you find the key one, you can close all your trades based on the important level on this one chart because the price will stop and reverse on many pairs at the same time. I am sure you've seen it too.
  • #11
  • Edited 3:54am Jun 29, 2021 1:48am | Edited 3:54am
Quoting nonameatall
So, if it is something not super time consuming maybe you could try it, please?
I was afraid you were going to ask that.
Attached File(s)
File Type: mq4 Close_all_level.mq4   14 KB | 559 downloads


You can input a price level and "long" or "short"; if "long" is selected, EA will call the maximum overkill close-all code if bid >= level; if "short" is selected, EA will close orders if ask <= level..
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  • #12
  • Jun 29, 2021 1:55am Jun 29, 2021 1:55am
Thank you. Will try on demo few times tomorrow and get back to you. Too late here now. I do not understand the implications, will be continuing tomorrow (my tomorrow). Nicholishen is sometimes too smart for me, lol.
  • #13
  • Edited 3:05am Jun 29, 2021 2:49am | Edited 3:05am
Quoting nonameatall
I do not understand the implications, will be continuing tomorrow (my tomorrow).
By implications I mean that it will also close pending orders.

Updated the code above. Now there is another input, "long" or "short"; if "long" is selected, EA will close orders if bid >= level; if "short" is selected, EA will close orders if ask <= level.
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  • #14
  • Jun 29, 2021 3:14am Jun 29, 2021 3:14am
thanks. still around. just tried your version one - nothing happened, I opened about 11 trades and had 2 pendings - price reached the level that I set, passed it and nothing closed. smiley face is there so it is active.

alert popped up saying that it will close all orders now but nothing get closed.

will try your version 2 now.
  • #15
  • Jun 29, 2021 3:24am Jun 29, 2021 3:24am
Quoting nonameatall
thanks. still around. just tried your version one - nothing happened, I opened about 11 trades and had 2 pendings - price reached the level that I set, passed it and nothing closed. smiley face is there so it is active. alert popped up saying that it will close all orders now but nothing get closed. will try your version 2 now.
Check "Experts" and "Journal" tabs in MT4, if it prints any errors.
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  • #16
  • Jun 29, 2021 3:44am Jun 29, 2021 3:44am
Another code update (see above).

It works over here (possibly your broker does not permit MT4's closeby function):

Attached Image (click to enlarge)
Click to Enlarge Name: closeall.png Size: 33 KB
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  • #17
  • Jun 29, 2021 3:52am Jun 29, 2021 3:52am
thanks. downloaded again, will try again. No 2 seems like deleted pendings and some active orders, but other active remained. Journal does not show anything wrong. will try again, it is really late here so possibly i am not thinking straight any more. will still try No 3 now.
  • #18
  • Jun 29, 2021 4:02am Jun 29, 2021 4:02am
just watched it in action - it did close all pending orders but did not close any active orders. Journal did not show anything wrong, just stated that pending orders where deleted. It was version No 3.
  • #19
  • Jun 29, 2021 4:07am Jun 29, 2021 4:07am
Quoting nonameatall
just watched it in action - it did close all pending orders but did not close any active orders. Journal did not show anything wrong, just stated that pending orders where deleted. It was version No 3.
Ok. I am sorry, it looks like "closeby" does not work with your broker; then we have to close order-by-order. However this way of closing orders may take a long time, depending on the number of orders. I will provide the code soon.
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  • #20
  • Edited 5:07am Jun 29, 2021 4:18am | Edited 5:07am
Ok, here is the 1-by-1 close EA. Inputs work same as before.
Attached File(s)
File Type: mq4 Close_All_1x1.mq4   < 1 KB | 472 downloads
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