Trade Management Utility EA for MT4 and MT5

Description

Short Description: An automated trade management utility that manages manually opened or EA orders with automated SL/TP, break-even, ATR trailing stops, and partial profit closing.

Overview

The Trade Management Utility EA is an indispensable execution assistant designed for MetaTrader 4 and MetaTrader 5. It takes complete control of order risk management the instant a trade is opened—whether entered manually or placed by another expert advisor.

By automating Stop Loss, Take Profit, Break-Even triggers, ATR Trailing Stops, and 50% Partial Profits, the utility ensures consistent risk execution while eliminating emotion and screen watching.

Key Features

• Universal Trade Tracking: Automatically manages manual trades, market orders, or specific magic number orders.
• Auto SL & TP Placement: Instantly attaches fixed or ATR-calculated Stop Loss and Take Profit upon order creation.
• Automated Break-Even Lock: Moves SL to entry price plus offset once profit reaches a specified threshold.
• Dynamic ATR Trailing Stop: Trails Stop Loss dynamically behind price action using Average True Range.
• Partial Profit Closing: Automatically closes a portion of order volume at predefined profit milestones.
• On-Chart Management Control Panel: Provides quick visual status buttons to close all, move all to BE, or flatten positions instantly.

How It Works

1. Order Detection: Scans open position pool on every tick matching symbol and magic number filters.

2. Initial Risk Attachment: Attaches hard broker-side Stop Loss and Take Profit if missing.

3. Milestone Monitoring: Continuously tracks unrealized pip profit against Break-Even and Partial Close triggers.

4. Trailing Modification: Updates Stop Loss tick-by-tick as market price moves favorably.

Trading/Indicator Logic

• Break-Even Trigger: If `ProfitPips >= BreakEvenTriggerPips`, modify `SL = EntryPrice + OffsetPips`.
• Trailing Stop: If `ProfitPips >= TrailingStartPips`, update `SL` to follow price at `TrailingDistancePips`.
• Partial Close: If `ProfitPips >= PartialCloseTriggerPips`, close `PartialClosePercent` of lot volume.

Supported Markets

• Forex Majors & Minors, Precious Metals (Gold/Silver), Stock Indices, Cryptocurrencies

Recommended Timeframes

• All Timeframes (M1 to MN1)

Recommended Symbols

• All Tradable Instruments

Main Settings

• `ManageMagicNumber` (0): 0 to manage all manual trades, or specific EA magic number.
• `DefaultStopLossPips` (30): Default SL in pips.
• `DefaultTakeProfitPips` (60): Default TP in pips.
• `UseBreakEven` (true): Enable Break-Even adjustment.
• `BreakEvenTriggerPips` (20): Pip threshold for Break-Even.
• `UseTrailingStop` (true): Enable trailing stop.
• `TrailingDistancePips` (15): Trailing stop distance in pips.
• `UsePartialClose` (true): Enable 50% partial profit close.

Installation

1. Open MetaTrader 4 or MetaTrader 5 terminal.

2. Go to File -> Open Data Folder.

3. Open `MQL4/Experts` (or `MQL5/Experts`).

4. Copy `043 – Trade Management Utility EA.ex4` or `.ex5` into the folder.

5. Refresh Navigator and attach to any chart.

How To Use

1. Attach the utility to any chart window.

2. Open trades manually or via another tool.

3. The utility will automatically manage SL, TP, Break-Even, and trailing stops according to your input rules.

Who Is It For

• Manual Day & Swing Traders: Wanting automated risk execution without sitting in front of screens.
• Prop Firm Traders: Needing strict rule enforcement and guaranteed SL management.

What’s Included

• `.EX4` Compiled Executable (MetaTrader 4)
• `.EX5` Compiled Executable (MetaTrader 5)
• Quick Setup Manual
• Lifetime Updates & Support

Updates & Support

Includes lifetime product updates, fixes, and support from AlgoTim.

Risk Disclaimer

Financial trading involves risk. Test utility settings on demo accounts before live deployment.

FAQ

Q: Does this EA open trades automatically?

A: No. It manages existing trades opened manually or by other tools.