Set SL and TP automatically in dollar amounts? | Forex Factory

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Set SL and TP automatically in dollar amounts?

  • #1
  • First Post: Edited 6:25pm Mar 19, 2014 5:14pm | Edited 6:25pm
Hello,

It takes me too long to figure out pips for SL and TP. So i am looking for a script or a plugin for MT4 610 which would allow me when opening an order to set my Stop Loss and Take Profit in dollars and save it and later apply automatically to all orders. Thanks and let me know if you have something in mind!
  • #2
  • Mar 19, 2014 6:11pm Mar 19, 2014 6:11pm
Quoting masterok
Hello, It takes me to long to figure out pips for SL and TP. So i am looking for a script or a plugin for MT4 610 which would allow me when opening an order to set my Stop Loss and Take Profit in dollars and save it and later apply automatically to all orders. Thanks and let me know if you have something in mind!

look at these, maybe they are what you want.

http://codebase.mql4.com/8127

http://codebase.mql4.com/7877
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3
  • Edited 6:59pm Mar 19, 2014 6:27pm | Edited 6:59pm
Really appreciate your help Emmanuel, but those nice tools do not help resolve my issue. I hope someone knows of a plugin which can set SL or TP for me automatically and would be nice if I can set them in dollars.

This is the only one I have found through Google search but it does not work. I just tried it and it doesnt close trades. It appears on graph, says what TP and SL ammount are but when price reaches either one does not close the trade. May be someone can take a look at it and see if it could be fixed?

http://codebase.mql4.com/6121
  • #4
  • Mar 20, 2014 12:42am Mar 20, 2014 12:42am
Quoting masterok
Hello, It takes me too long to figure out pips for SL and TP. So i am looking for a script or a plugin for MT4 610 which would allow me when opening an order to set my Stop Loss and Take Profit in dollars and save it and later apply automatically to all orders. Thanks and let me know if you have something in mind!
Please try this script (test it on demo)
Remember that it will modify the SL and TP of all open trades (not pending)
Attached File(s)
File Type: mq4 SLandTP_in_Currency.mq4   3 KB | 3,110 downloads
Please Do Not PM Me With Coding Enquiries
  • #5
  • Mar 20, 2014 7:13am Mar 20, 2014 7:13am
Tried to load in on the chart with a trade. Popup appears to ask for TP and SL, once I enter them and press OK it just disappears without setting limits. Tried several times.
  • #6
  • Mar 20, 2014 7:24am Mar 20, 2014 7:24am
since Gumrai uses the new mql4 syntax and I did not already learned it I cannot help with that ea.
But what you could do: Show into your journal/experts-tab and check if there are some (error)messages. If so, please post them here
PM me with coding requests and I'll probably put you on my ignore list
  • #7
  • Mar 20, 2014 7:57am Mar 20, 2014 7:57am
Thanks for reply fxdaytrader, no errors. As per journal i opened an order and then I loaded script several times and it always says loaded successfully, then, since it wouldnt work I removed it then again loaded successfully. Nothing else there.
  • #8
  • Mar 20, 2014 8:03am Mar 20, 2014 8:03am
Quoting masterok
Tried to load in on the chart with a trade. Popup appears to ask for TP and SL, once I enter them and press OK it just disappears without setting limits. Tried several times.
What values are you entering for SL and TP?
Maybe you could show what trade you have open? ie pair and lot size?
Please Do Not PM Me With Coding Enquiries
  • #9
  • Mar 20, 2014 8:05am Mar 20, 2014 8:05am
Are you checking the "Allow live trading" box?
Please Do Not PM Me With Coding Enquiries
  • #10
  • Mar 20, 2014 4:35pm Mar 20, 2014 4:35pm
Wow I already recorded the screencast to post here and before pressing Reply button seen your comment, Gumrai. I checked Allow Live Trading and it started to work. Amazing. Thank you so much for your help.

Is there a way to limit it to specific order only or chart? I mean only work for orders opened on the particular chart.
  • #11
  • Mar 20, 2014 5:21pm Mar 20, 2014 5:21pm
Quoting masterok
Wow I already recorded the screencast to post here and before pressing Reply button seen your comment, Gumrai. I checked Allow Live Trading and it started to work. Amazing. Thank you so much for your help. Is there a way to limit it to specific order only or chart? I mean only work for orders opened on the particular chart.
I have made a small modification that will allow you to select chart trades only. I have not tested it
For individual trades you can check "Ask Manual Confirmation", just below "Allow Live Trading"
Attached File(s)
File Type: mq4 SLandTP_in_Currency2.mq4   3 KB | 2,416 downloads
Please Do Not PM Me With Coding Enquiries
  • #12
  • Mar 20, 2014 5:26pm Mar 20, 2014 5:26pm
Yep it worked. Thank you very very much!

Last question: Is there a way to automatically run the script once the trade is open or not?
  • #13
  • Mar 20, 2014 5:56pm Mar 20, 2014 5:56pm
Quoting masterok
Yep it worked. Thank you very very much! Last question: Is there a way to automatically run the script once the trade is open or not?
That would require an EA to monitor for new trades etc.
It can be done, but I am busy with something else just now. Maybe I will look at it later.
Please Do Not PM Me With Coding Enquiries
  • #14
  • Mar 20, 2014 6:00pm Mar 20, 2014 6:00pm
Dont worry then. I thought may be there is an app for that As is - is fine with me! THanks again!
  • #15
  • Nov 25, 2015 4:34pm Nov 25, 2015 4:34pm
Hello there,

I want a EA to be created. I want to test market, if we can take small profit in each trades but multiple trades.

wanted an EA with following features.

inputs
1. min lot default 0.01 changeable by user
2. Take profit (TP) default 10 pips changeable by user (You can also include above EA to make TP at 1$ least)
3. spread include in take profit : true or false. if True, take profit (TP) will be as in point 2. if false, take profit (TP) will be point 2 + spread.
4. stop loss (SL) will be default not set, but settable by user.


at the start of each bar, EA will check if there if

a. open long order for the script
b. open short order for the script

there will be 4 possible outcome.

cond 1. only long order exist.
cond 2. only short order exist.
cond 3. both long and short order exist.
cond 4. no order exist.

if cond 1.: the EA will place short order with TP & SL.
if cond 2.: the EA will place long order with TP & SL.
if cond 3.: the EA will place no order.
if cond 4.: the EA will place both long and short orders with TP & SL for each.

no force close of any order.

in short, EA will open both short and long orders at the start of the new bar / candle, with condition that no previous order exist on the same script. if any then the order type must be as defined.

thanks in advance.
  • #16
  • Jan 14, 2016 12:43am Jan 14, 2016 12:43am
this script only works "on demand", ie only 1 time. I want same ea or script to work constantly on my mt4 chart or charts. Please reply here if you have ea or script like this.
  • #17
  • Oct 11, 2016 6:08am Oct 11, 2016 6:08am
Quoting Gumrai
{quote} I have made a small modification that will allow you to select chart trades only. I have not tested it For individual trades you can check "Ask Manual Confirmation", just below "Allow Live Trading" {file}
Great script gumrai.Thanks for sharing.This tool will definitely come in handy.Can you please add trailing stop in currency to this amazing script?Can you also add hidden feature to stop loss and take profit?Thank you.
Goal of a successful trader is to make the best trades. Money is secondary
  • #18
  • Nov 7, 2019 11:40pm Nov 7, 2019 11:40pm
isany new version ...
Set SL and TP automatically in dollar amounts?
Everything flows. Learn to Earn.
  • #19
  • Jan 13, 2020 9:09am Jan 13, 2020 9:09am
Quoting Gumrai
{quote} I have made a small modification that will allow you to select chart trades only. I have not tested it For individual trades you can check "Ask Manual Confirmation", just below "Allow Live Trading" {file}
Years later, Gumrai, I would like to thank you for such precise and useful tool!
  • #20
  • Aug 2, 2022 9:02am Aug 2, 2022 9:02am
Hi all.

I downloaded the files but it doesn't work? Anyone know why?
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