This is a very simple, and easy-to-use Trade Manager with features like Auto Partial Close, Auto Take-Profit/Stop-loss, Reverse trade, Close all, and a lot more to come in the future.
How to use Partial Close Trade Manager EA?
When attaching the EA to the chart you can adjust the default Input parameters to your liking so even you restart the MT4 they stay the same. after that, you can change parameters as you go quickly using the trade manager panel.
The EA Only sees the trades of that currency pair (instrument) that it is attached to. The EA will Only manage market orders on the currency pair (instrument) it is attached to (magic number support coming soon). The EA can also be applied to non-Forex pairs/instruments like Indices, Commodities, etc.
Features such as automated partial close, hidden TP/SL only work when MetaTrader 4 is online.
You can use the ” Now” button to partially close the percentage you chose immediately.
If Auto partial close is turned ON, EA will partially close the percentage you chose when the trade has moved your designated steps.
For those who do not know what Partial Close is: it is simply an action to close only a part of your order position. For example, if your trade lot size is 1.6 and you close 25% of it (which is 0.4) you will still have a 1.2 lot size trade running and existing profits or loss from that 0.4 lot size will be closed. This action obviously can be performed manually, but if you want this to be quick, simple, and automate you need “Partial Close Trade Manager”.
The Partial Close function currently only works for one trade at a time on the EA attached currency pair.
You can use the ” Close All” button to close all open positions in the EA attached currency pair(does not Include pending orders).
You can use the ” Reverse” button to Reverse all currently open positions. EA will close all open positions and it will open new opposite positions with the same lot size in the EA attached currency pair.
If Auto TP, SL, or both is turned ON EA will place TP/SL according to your chosen TP/SL size. You also have the option to use hidden SL & TP(This allows you to close order by a virtual Take-Profit or a virtual Stop-Loss which are hidden from the Broker)
EA Inputs Parameters
- Partial close when Pips (Default) — This tells the EA to partial close when the trade reaches X pips.
- Partial close percentage (Default) — This tells EA to close X% of the trade. The percentage of the lot size is counted from the initial lot size.
- Take Profit Pips (Default) — Set your Take Profit
- Stop Loss Pips (Default)— Set your Stop Loss
- you can change (Default) parameters as you go quickly using the trade manager panel.
- SL & TP Mode
- Place SL & TP — Regular Take-Profit and Stop-Loss
- Hidden SL & TP — This allows you to close order by a virtual Take-Profit or a virtual Stop-Loss which are hidden from the Broker