Break even 'EA'? | Forex Factory

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Break even 'EA'?

  • #1
  • First Post: Aug 31, 2011 8:38am Aug 31, 2011 8:38am
Hello all,

Is there a break even expert advisor for MT4 whereby you can set if the order goes +X your stop is moved to your entry price?

I'd like one that manages my stop when the market hits +15 pips.

Thanks!
  • #2
  • Aug 31, 2011 2:44pm Aug 31, 2011 2:44pm
try mptm by steven hopwood, it works great
  • #3
  • Aug 31, 2011 3:33pm Aug 31, 2011 3:33pm
Hi FxHancock,

here is your requested EA.

Below are some of its parameters:

Break_Even_After_X_Pips
This refers to the minimum no. of pips in profit that is required prior to changing the order's stoploss to the order's entry price. Default value is set to 15 pips.

useMagicNumber
If you would like to use this in conjunction with another EA, set this to true. Default value is false.

Magic
Once you have set "useMagicNumber" to true, you can key in the same Magic number as the EA that you wish for it to be used in conjunction with. Default value is 1234567.


PS: MPTM will definitely have more functions than this EA . This EA will only focus on doing the above functions.

Please ensure that you don't have any pending orders or open orders before you apply this EA. As this EA will change any current open orders' stoploss(es) to its' entry price(s) once it has 15pips and above in profit. This EA will also apply these changes regardless of your magic no, unless you set "useMagicNumber" to true.

Should there be any bugs, let me know.
Attached File(s)
File Type: mq4 Breakeven EA v1.mq4   2 KB | 8,228 downloads
  • #4
  • Aug 31, 2011 3:42pm Aug 31, 2011 3:42pm
Much appreciated, I'll give that a try.
  • #5
  • Sep 1, 2011 10:31am Sep 1, 2011 10:31am
Quoting tigpips
Hi FxHancock,

here is your requested EA.
Sorry I forgot to ask. Does this work on multiple open trades or just one?

Thanks.
  • #6
  • Sep 1, 2011 2:08pm Sep 1, 2011 2:08pm
Quoting FxHancock
Sorry I forgot to ask. Does this work on multiple open trades or just one?

Thanks.
It will work for multi open trades. It scans every single order and checks whether they have surpassed 15 pips. If so, it will change the orders' stoploss to its open price value.
  • #7
  • Sep 1, 2011 2:32pm Sep 1, 2011 2:32pm
Quoting tigpips
It will work for multi open trades. It scans every single order and checks whether they have surpassed 15 pips. If so, it will change the orders' stoploss to its open price value.
Thats great, thanks for the reply.
  • #8
  • Sep 2, 2011 5:47am Sep 2, 2011 5:47am
Sorry about this, I'm very new to MT4, I 'attached' your BE EA to my chart but it doesn't work - am I doing something wrong?
  • #9
  • Sep 2, 2011 5:53am Sep 2, 2011 5:53am
Quoting FxHancock
Sorry about this, I'm very new to MT4, I 'attached' your BE EA to my chart but it doesn't work - am I doing something wrong?
Does it have a Smiley face, Sad face or X in the top right corner of the chart ?
20 pips a day isn't too much to ask . . .
  • #10
  • Sep 2, 2011 6:01am Sep 2, 2011 6:01am
Quoting RaptorUK
Does it have a Smiley face, Sad face or X in the top right corner of the chart ?
None of the above.
  • #11
  • Sep 2, 2011 6:05am Sep 2, 2011 6:05am
Quoting FxHancock
None of the above.
Did you copy it to the experts/ folder (not experts/indicators or experts/scripts ) then attach it as an EA ?

Did you click the Expert Advisors icon so you get a green arrow instead of a red x ?
20 pips a day isn't too much to ask . . .
  • #12
  • Sep 2, 2011 6:09am Sep 2, 2011 6:09am
Quoting RaptorUK
Did you click the Expert Advisors icon so you get a green arrow instead of a red x ?
... oh god I'm an idiot, I didn't realise you had to turn it on with that button!
  • #13
  • Sep 2, 2011 6:13am Sep 2, 2011 6:13am
Quoting FxHancock
... oh god I'm an idiot, I didn't realise you had to turn it on with that button!
It's called learning . . . . you are only an idiot if you don't ask the question.
20 pips a day isn't too much to ask . . .
  • #14
  • Sep 2, 2011 6:15am Sep 2, 2011 6:15am
Quoting RaptorUK
It's called learning . . . . you are only an idiot if you don't ask the question.
Thanks for your help, appreciated.
  • #15
  • Sep 2, 2011 6:19am Sep 2, 2011 6:19am
Quoting FxHancock
Thanks for your help, appreciated.
You are most welcome . . . one other thing that catches people out, if you want an EA to trade for you then you need to allow it to do so . . . in MT4 and in the EA Properties
Attached Image (click to enlarge)
Click to Enlarge Name: EA-allow-live-trading.jpg Size: 44 KB
Attached Image
20 pips a day isn't too much to ask . . .
  • #16
  • Sep 2, 2011 6:27am Sep 2, 2011 6:27am
Missed that 'enable live trading' in options too, thanks again!
  • #17
  • Sep 5, 2011 3:38am Sep 5, 2011 3:38am
Quoting tigpips
Hi FxHancock,

here is your requested EA.

Below are some of its parameters:

Break_Even_After_X_Pips
This refers to the minimum no. of pips in profit that is required prior to changing the order's stoploss to the order's entry price. Default value is set to 15 pips.

useMagicNumber
If you would like to use this in conjunction with another EA, set this to true. Default value is false.

Magic
Once you have set "useMagicNumber" to true, you can key in the same Magic number as the EA that you wish for it to be used...
I'm afraid I can't get your EA to work, as soon as the trade goes in to profit it moves the stop to BE?
  • #18
  • Sep 5, 2011 4:21am Sep 5, 2011 4:21am
Quoting FxHancock
I'm afraid I can't get your EA to work, as soon as the trade goes in to profit it moves the stop to BE?
Hmm try this version. I did it awhile back when another member pm-ed me. He wanted a feature that allows the EA to close at +1 pip profit instead of 0 pips breakeven.

If that still doesn't work for you. The next thing you can try is multiplying the "Break_Even_After_X_Pips" variable by a value of 10. So instead of 15, you key in 150.

If doing all the above still doesn't work for you. Let me know the broker that you're using. I will download their terminal and try to see if I emulate the same problem that you're facing.
Attached File(s)
File Type: mq4 Breakeven EA v1.1.mq4   4 KB | 3,365 downloads
  • #19
  • Sep 5, 2011 1:07pm Sep 5, 2011 1:07pm
Quoting tigpips
Hmm try this version. I did it awhile back when another member pm-ed me. He wanted a feature that allows the EA to close at +1 pip profit instead of 0 pips breakeven.

If that still doesn't work for you. The next thing you can try is multiplying the "Break_Even_After_X_Pips" variable by a value of 10. So instead of 15, you key in 150.

If doing all the above still doesn't work for you. Let me know the broker that you're using. I will download their terminal and try to see if I emulate the same problem that you're facing.
v1.1 appears to be working - thanks.

How do I move the read-out to the top right corner as it's currently obstructing another readout so you can't see the text?
  • #20
  • Sep 5, 2011 9:17pm Sep 5, 2011 9:17pm
Quoting FxHancock
v1.1 appears to be working - thanks.

How do I move the read-out to the top right corner as it's currently obstructing another readout so you can't see the text?
Ok this verison will adjust the information shown to the top-right.

New settings for this version:

Text_Color
Refers to the information text's color. Default is red.

font_size
Refers to the information text's font size. Adjust according to your preference.

font_gap_distance
Refers to the gap in between each line of text. If you were to increase the font size, the gap size has to be increased to avoid overlapping.
Attached Image (click to enlarge)
Click to Enlarge Name: Breakeven EA v1.2.jpg Size: 78 KB
Attached File(s)
File Type: mq4 Breakeven EA v1.2.mq4   6 KB | 4,211 downloads
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