Range Auto TP SL
- Experts
- Dilwyn Tng
- Version: 1.0
Range Auto TP SL is a EA to set Stop Loss and Take Profit level based on range using Average True Range (ATR). It works on both manually opened positions via PC MT5 Teriminals or MT5 Mobiles and EA/robots opened position. You can specify magic number for it to work on or it can work on all the positions.
Many EA does not good Stop Loss and Take Profit function and it is cumblesome to set TP and SL of Manual Trade or EA opened trades especially in when the EA is a multi currency EA, Range Auto TP SL can help you to set TP and SL automatically and quickly.
This EA works in points and works for all symbols, pairs and brokers. It is very fexible, which you can use it one 1 or many sybol, 1 or magic numbers.
To Backtest: Load this EA in a demo account and open some manual trade without stop loss and take profit settings, then check the stop losses and take profits.
Settings:
ATR TimeFrame Timeframe where the range will be based on. If you are using Range Auto SL TP on EA opened manual, it is suggested that you use this timeframe as the EA's.
ATR Peroid Period of the above timeframe
ATR Shift Shift of the above timeframe
Take Profit Factor (ATR Value x This) Take Profit Factor times the ATR value. For example, A buy position price is 1.00050, ATR is 50points and you set this parameter as 2, Take Profit value will be set as 1.00150.
Stop Loss Factor (ATR Value x This) Stop Loss Factor times the ATR value. For example, A buy position price is 1.00050, ATR is 50points and you set this parameter as 1, Take Profit value will be set as 1.00000.
TP or SL have no value Only If you set this to false, Range Auto SL TP will set any newsly open position TP and SL, overwrite its current SL and TP value. If you set this to True, Range Auto SL TP will work on positions TP and SL which has 0 value only.
This Chart Symbol Only If you set this to false, Range Auto SL TP will set any newsly open position symbol TP and SL. If you set this to True, Range Auto SL TP will work on positions TP and SL of the chart symbol which you load Range Auto SL TP.
Magic Number as Below Only If you set this to false, Range Auto SL TP will work on any open position which bear the same magic number which you can set at the next field. If this is false, it will work all the magic numbers in the account.
Magic Number The magic number you want Range Auto SL TP to work on.
MM_TradeSize This is used in backtest of the EA, this EA will random open trades at the start of a candle. It will not open any trade in live account. This is a special feature you can see how it works before applying this EA into your account.
Some Tips:
You can load 1 or more Range Auto SL TP into 1 MT5 terminal, combined with TP or SL have no value Only, This Chart Symbol Only and Magic Number as Below only you can create a very fexible and powerful exit stratery
Use Take Profit Factor bigger then Stop Loss Factor
This is SUPER! Very Helpful!