EA Trade Manager MT4 & MT5

Equity Control Parameters in Trade Manager MT5 and MT4

The Equity Control feature in Trade Manager MT5 and MT4 is one of the most effective Equity Protection tools available for traders using MetaTrader platforms. It allows you to automatically close all open positions when your account equity reaches a specific profit target or loss limit, helping you lock in profits and protect your capital without constant chart monitoring.

Profit and Loss Thresholds
At the core of Equity Control in Trade Manager for MT5 and MT4 are two key settings:

1. Profit – the profit target at which all open trades will be closed, securing your gains.
2. Loss – the maximum allowable loss, beyond which all positions will be closed to protect your account balance.

These thresholds can be defined in three flexible ways:

1. Account Currency – enter a fixed monetary value in your account currency, e.g., $100 profit or $200 loss.
2. Percentage of Account Balance – use a percentage-based limit, e.g., 2% profit or 5% loss.
3. Absolute Equity Level (EQL) – set a fixed equity value, e.g., $10,500 to close for profit or $9,000 to close for loss.

This flexibility makes Equity Protection in Trade Manager MT5 and MT4 adaptable to any trading style.

Trade Tracking Options
The Track Trades For parameter lets you choose which trades to include in the equity monitoring:

1. All Symbols – monitor trades across all instruments.
2. Name of Current Symbol – monitor trades only on the chart where Trade Manager is running.

Pending Orders Management
Enabling Delete Pending Orders will remove all pending orders once your profit or loss target is reached and open trades are closed. This helps ensure no new trades are triggered after your daily or session goal is met.

Visual Monitoring – Account Status Panel
The Account Status Panel in Trade Manager MT5 and MT4 is an essential visual aid for equity protection. It provides real-time tracking of your profit/loss relative to your configured thresholds.


You can choose from three display modes:

1. Current Profit/Loss in Account Currency – shows your floating result in your deposit currency.
2. Profit/Loss as a Percentage of Account Balance – displays relative performance for better scalability across account sizes.
3. Equity Value – shows the current total account equity.

Additionally, the panel includes a progress bar that visually indicates how close you are to hitting your profit target or loss limit.
While the display mode doesn’t affect the logic of Equity Control, it’s extremely valuable for traders who want instant clarity on their trading session’s performance.

Activating Equity Control
Once you set all parameters, activate the feature by switching the Profit and Loss toggles from OFF to ON. You can run only one threshold or both at the same time.
In the General Settings of Trade Manager for MT5 and MT4, you can define whether the function applies:

1. Only to trades opened by the Trade Manager (Only Current Magic No. = true, default), or
2. To all trades, including manual trades and those placed from MetaTrader mobile apps (Only Current Magic No. = false).

With these powerful settings, the Equity Protection system in Trade Manager MT5 and MT4 helps you automate risk management and secure profits more effectively, making it an essential tool for every MetaTrader trader.

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EA Trade Manager for MT4: https://www.mql5.com/en/market/product/37228
EA Trade Manager for MT5: https://www.mql5.com/en/market/product/39150
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Equity Protection in MetaTrader5 and MetaTrader4 – See It in Action in Trade Manager MT5 and MT4

After learning what the Equity Protection feature does and how to configure it in Trade Manager MT5 and MT4, it’s time to see it in real market conditions.
We’ve prepared a dedicated video demonstration showing this powerful risk management tool working live in MetaTrader.

In the video, you’ll discover how the feature responds as equity moves toward the set profit target or loss limit, how the Account Status Panel keeps you informed in real time, and how Trade Manager automatically closes positions when your predefined conditions are met.

Whether you trade forex, indices, gold, or crypto in MT5 or MT4, this short presentation will help you quickly understand the practical benefits of Equity Protection and why it can be a game-changer for your trading discipline.

Watch the video here:

Will this EA work on an MT4 Spread Bet platform eg CMC or IG please?

We don’t personally use MT4 spread betting accounts like CMC or IG, so I can’t guarantee 100% compatibility. However, from what I remember, some of our clients are using these types of accounts with our Trade Manager for both MT4 and MT5 without issues.

I’d still recommend testing it on your specific account type to be sure. You can contact our support team via our contact form here: https://www.investsoft.eu/contact and request a free trial version of the Trade Manager for MT4 to test it on your platform.

Thank you for your comprehensive reply. I will follow your suggestions as soon as time permits.

Trade Manager MT5 & MT4 – Full Support for Custom Charts on MT5

Starting from version 3.60, you can now run Trade Manager on Custom Charts in MetaTrader 5.
This unlocks brand-new possibilities for those of you who trade using non-standard charts like Renko, tick charts, volume-based charts, second-based charts etc.



What Are Custom Charts and Why Traders Use Them?
In MetaTrader 5, you can create your own custom charts independent of the standard timeframes and chart types available by default. Traders use them to:

1. Filter out market noise for cleaner price action analysis
2. Identify trends more accurately
3. Analyze price behavior in unique ways not possible with standard charts

Custom charts are usually generated with special scripts or indicators that build a new price feed in a separate chart window.

Trade Manager MT4 vs MT5
In MetaTrader 4, Trade Manager has always been able to work on custom charts because of the way MT4 handles offline charts.
However, in MetaTrader 5, this was not possible until recently.
Starting with Trade Manager v3.60, you now get full support for custom charts in MT5, giving you the same flexibility as MT4 users.

How to Configure Trade Manager on Custom Charts
Using Trade Manager on custom charts in MT5 is simple, but you need a separate script to create Renko charts.
For example, let’s open a Renko chart for GBPUSD.
The custom chart symbol will display as GBPUSD.renko, but this is not a valid symbol name for placing trades in MetaTrader.

To make it work:

1. Launch Trade Manager MT5 on your custom chart
2. Go to the settings
3. In the Base Symbol field, enter the original symbol (e.g., GBPUSD)
4. Confirm the settings

After that, the Trade Manager panel becomes fully functional on your custom chart.

What You Can Do With It
Once configured, you can manage trades on custom charts exactly as on standard charts:

1. Open market and pending orders
2. View entry levels, Stop Loss, and Take Profit directly on the custom chart
3. Use Break Even, Trailing Stop, Partial Close, and all other Trade Manager features seamlessly

Even though the orders are placed on the base symbol, Trade Manager overlays all relevant trade levels on your custom chart, keeping your workflow smooth and efficient.


Why This Matters
This update allows you to combine the power of custom price analysis with advanced trade management.
Whether you’re trading Renko, tick charts, volume-based setups, or any custom structure - Trade Manager MT5 and MT4 now give you complete control over your positions, no matter how you visualize the market.

Video tutorial: Trade Manager MT5 on custom charts (Renko / second / volume) in MetaTrader 5

Following my earlier update about v3.60, the MT5 Trade Manager now works directly on MetaTrader 5 custom charts. This new tutorial shows how to run Trade Manager MT5 on MT5 custom charts like a Renko charts, second charts, tick charts, volume charts etc. and manage everything without switching to the base-symbol window.

In the video, I walk through launching Trade Manager MT5 on a custom chart, placing orders directly from that chart, seeing SL/TP on the same chart, and dragging those levels just like on a standard timeframe. You’ll also see how Base Symbol routing works under the hood so execution goes to the correct underlying instrument, while you continue working on the custom chart.

Watch the tutorial:

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EA Trade Manager for MT4: https://www.mql5.com/en/market/product/37228
EA Trade Manager for MT5: https://www.mql5.com/en/market/product/39150
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MT5 is Back for US Traders

MetaTrader 5 is back in the United States and that changes the daily routine for a lot of traders. With FTMO working with OANDA, U.S. traders can take the FTMO Challenge on MT5 again and stay on the same platform after they pass. The FTMO setup with OANDA or AMP Futures give you access to exchange-traded futures inside MT5, so running a futures workflow in MetaTrader 5 is once again practical for U.S. traders.

This is where Trade Manager MT5 comes in. The tool is also tuned for futures symbols in MT5 and reads contract specs correctly. Position sizing respects the instrument parameters and keeps risk consistent across FX, indices, and futures. Automation features like break even, trailing stop, partial closes, and equity protection remove repetitive tasks and let you focus on execution. If you are preparing for an FTMO Challenge or trading live, MT5 plus Trade Manager MT5 gives you a stable, fast setup for US traders who want futures in MT5 as well as spot markets.

Good day!

I have a suggestion for a more intuitive trading experience.

Can we add a unique sound file for each alert, just like in other trading platforms?

For example, if a market/pending order gets triggered, it will play a bell sound. If TP is hit, it will play a chime sound instead, but if it hits SL, it plays a beep sound.

Also, add an option whether to play the sound alerts only or with a pop-up dialog box. Traders should be able to add their own personal ringtones as sound alerts as well.

I believe that this feature can be quite useful especially for scalping as it can be used as audio cues without having to rely on intrusive pop-up dialog boxes.

I would love to know your thoughts on this. Thank you!

Good day
Thank you again for the valuable suggestion.
We can approach this in a straightforward way based on how alerts are already organized in the MT4 and MT5 Trade Manager. Right now we have separate sections for:

1. Open Market Order
2. Close Market Order
3. Set Pending Order
4. Activate Pending Order
5. Delete Pending Order

What we can add:

1. A custom sound field for each section (you have to type the sound file name to play when that action occurs).
2. For Close Market Order, we’ll provide two separate sound fields so you can assign one sound for TP hit and another for SL hit.

About your “sound only vs pop-up” request: at the moment we rely on MetaTrader’s standard Alerts window. Trade Manager MT5/MT4 just posts the message into that built-in dialog, and MetaTrader plays its default alert sound. That window isn’t really customizable from our side. Because of this, we’d likely offer a switch:

1. Standard MetaTrader Alert (shows MT’s pop-up and uses MT’s default sound), or
2. Custom Sounds Only (no MT pop-up; we play your chosen audio for each event).

Your idea has been added to our suggestions list and we’ll consider it for upcoming updates. Thanks again for helping us make the trading experience more intuitive.

This is great to know! Im excited for the upcoming features in the future. Thank you for your elaborate response!

Hi

why in this case BreakEven and TrailingStop don't work? Have set BE 7.0 manually

Hi Badguy,

At first glance I can already see that your BreakEven settings are not correct. The profit cannot be larger than the activation value. In your case you set it so that after 12 pips of profit the stop loss should move to 15 pips from the entry price, which means placing SL beyond the current market price. The broker will never allow this, so the BE was rejected on the broker’s side and did not trigger.

As for the trailing stop, I cannot say for sure without more details. It would help a lot if you could send us the logs, at least from this specific trade from the very beginning, from both the Experts and Journal tabs.

The best way is to contact our Technical Support via the form here: https://www.investsoft.eu/contact. Once we receive your logs, we can analyze your case in detail and confirm exactly what went wrong and on which side.

Hi Gruffydd

sorry for late Respons. As posted I have seen the mistake with BE. The problem was the TS. Will have look in the future.
It was a LPO, virtual with trailing. Never seen before this issue

Hi Badguy,

I looked again at the screenshot you sent in your first message and checked your Trailing Stop settings. I can see where the issue comes from: the Step parameter is set to 0.0.

In the code there’s a condition that requires Step > 0, so with Step = 0 the trailing logic never activates. That’s why your Trailing Stop didn’t work.

Please set Step to at least 0.1 pips (or higher to your preference). After that, both BE and Trailing Stop will trigger as expected once price hits their thresholds.
To prevent this in the future, in the next Trade Manager update I’ll add a safeguard so the Step can’t be set below the required minimum. If a smaller value is entered, it will auto-clamp to the minimum.

If anything still behaves oddly after changing Step, send me a screenshot of your inputs and I’ll double-check.

When I found Trade Manager I was somewhat new to MT5 and completely hated it. Still do but it is like Stockholm syndrome. Literal minecraft level graphics garbage in a world of Lies of P. Honestly all I wanted was just a way to make those stupidly small red lines bigger so I can move my TP or SL. I mean what a horror show trying to make my cursor grab that tiny line when it is important. Seriously that is all I wanted. While looking for that function I discovered what a trade manager is and what all it can do. There was like 2 other similar competitive utilities. I tried them all and settled on Trade Manager. Love it. Makes a world of difference. The extent of what it can do would honestly end up as a TLDR for this review. Also they have wonderful support even for the ignorant such as I and they continue to update as well as take requests for possible improvements. I recently purchased a new FTMO challenge and something wasn't working. They had an update out within a day. Also I have never had to use a lot size calculator and still don't know how to execute a trade using just MT5 alone. Seriously. Good folks and a great product. Can't imagine MT5 without it.

Thanks a ton for the awesome review. We really appreciate you taking the time to share it. We’re thrilled that Trade Manager MT5 is making a day-to-day difference in your forex and futures trading, and that you chose it after trying other tools.

You are right about MT5. The interface can feel dated, but under the hood it is a very capable and extensible platform. That is exactly why we built Trade Manager for MT5. Our goal is to smooth out the rough edges, make actions like adjusting SL and TP fast and precise, and add advanced risk and execution features that traders actually need.

How I can edit the name or overwrite the name with the new settings?
When press the pencil, nothing happen. Can see a rectangle in left upper corner for short moment ( > second )

You should normally see an additional dialog window appear, similar to the one shown in the image below.

It’s difficult to determine the cause based only on your description, so the best option would be to contact our support team through the form here: https://www.investsoft.eu/contact.
We’ll investigate your case in detail to identify the cause and provide a solution.

Hi Gruffydd

Thanks for your help
I found the issue. The problem is: when I have set the EA to the right chart border, then the rename panel is out of the chart.
Maybe the programmers can code an option, that the panel pop on the left side, when the main panel stays on the right chart border.