Download the FREE SL Limiter here!
Take your risk management to the next level and check out SL Limiter Pro here!
The SL Limiter is a sophisticated tool for MetaTrader 5 that automates stop-loss management, enabling traders to minimize risk and maximize returns without constant manual intervention. In this blog post, we'll break down each configuration option available in the SL Limiter Bot and explain how you can tailor these settings to suit your trading strategy.
Trigger Point 1 Configuration
The SL Limiter allows you to set multiple trigger points to define when specific actions should be taken based on your stop-loss settings. Trigger Point 1 is the first and primary configuration point for automated trade actions.
a. Enable Trigger Point 1
Purpose: Activates or deactivates the first trigger point.
- Parameter: EnableTriggerPoint1
- Type: Boolean ( true / false )
How to Use:
Set EnableTriggerPoint1 = true to activate Trigger Point 1. When activated, the bot will monitor your positions according to the parameters set below.
b. Trigger Percentage for SL
Purpose: Defines the loss threshold as a percentage of the stop-loss value at which the bot will take action.
- Parameter: TriggerPercentage1
- Type: Double (e.g., 50.0 for 50%)
- Default Value: 50.0
How to Use:
Set TriggerPercentage1 to the desired percentage of your stop-loss at which you want the bot to act. For example, if set to 50.0 , the bot will trigger an action when the position's loss reaches 50% of its set stop-loss value.
c. Action Type for Trigger Point 1
Purpose: Specifies the type of action to be taken when the trigger conditions are met.
- Parameter: Action1
- Options:
- CloseFull: Closes the entire position.
- PartialClose: Closes a portion of the position based on the PartialClosePercentage1 .
How to Use:
Choose between CloseFull or PartialClose based on your risk appetite and strategy. CloseFull is more conservative, while PartialClose allows for more flexibility and continued exposure.
d. Partial Close Percentage
Purpose: Sets the percentage of the position to close if a partial close action is selected.
- Parameter: PartialClosePercentage1
- Type: Double (e.g., 50.0 for 50%)
- Default Value: 50.0
How to Use:
If Action1 is set to PartialClose , set PartialClosePercentage1 to define how much of the position to close. For example, 50.0 would close half of the current position volume.
Download the FREE SL Limiter here!
Take your risk management to the next level and check out SL Limiter Pro here!
