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Automatic SL TP for MetaTrader 5 [EA]

Automatic SL TP for MetaTrader 5 [EA]

created Paweł Mosionek15 Września 2023

Auto SL TP for MetaTrader 5

On the platform MetaTrader 5 more and more traders and brokers are changing from year to year. The migration, however, is slow, and often the brake is the lack of available basic solutions to which MT4 users were used to. We plan to improve this process by providing you with the necessary tools to ensure comfortable trading.

Automatic Stop Loss and Take Profit

This is one of the most useful and universal tools for traders. Automatic item locking Stop Loss right after opening it (and optionally adding a Take Profit level) is the basis for most day traders and scalpers. But swing traders also do not shy away from such advantages.

Available functions:

  • Automatic addition of SL / TP;
  • Adding levels for all instruments or only the selected one;
  • Displaying information about active parameters in the graph;
  • Configure the appearance and position of the text.

In case we want to have different parameter settings for different instruments, the option "All pairs" you should turn off and run EA several times on different charts with different parameters.

Start-up instructions

  1. Start MetaTrader 5.
  2. On the menu in the top bar, click File -> Open Data Folder.
  3. Place the .mq5 file with the tool in the folder MQL5 / Experts / Advisors.
  4. Compile the file in MetaEditor or restart MT5.
  5. Add from the Navigator / Strategies window Auto SL TP to the chart using the method hold + drop.
  6. Configure the EA settings and approve.
  7. In MT5 settings, allow automatic strategies and activate the option on the toolbar "Auto Trading ".
auto sl tp mt5

Auto SL Metatrader 5


The author of the code: Andrzej Pierz, Forex-Service

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About the Author
Paweł Mosionek
An active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the ForexClub.pl website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Twice winner of "Junior Trader" - investment game for students organized by DM XTB. Addicted to travel, motorbikes and parachuting.