![]() ![]() Go back to MT4/MT5 terminal -> Main Menu -> View -> Navigator -> Right click on Expert Advisors folder -> Refresh -> Find “My Money Manager” -> Double click or drag it the the chart that you want to work with.Īt startup window -> Common tab -> Enable “Allow DLL imports” and “Allow live trading” check box. ex5 file to directory path: //MQL4(5)/Experts/. Go to MT4 or MT5 data folder by opening MT4/MT5 terminal -> Main menu -> Files -> Open Data Folder.Ĭopy. In other words, it acts as a simple close-all script.Unzip the product’s package, you will see the “My Money Manager.ex4” and “My Money Manager.ex5” files. Instead of watching for particular triggers, P/L Manager simply closes all applicable orders as soon as the first market tick is received from the broker. Try to keep the window open for as short a time as possible when altering settings. These can be also be changed while P/L Manager is running, but please note that MetaTrader disables an EA while its properties window is open. Set the high and low triggers at which P/L Manager should close orders: the CloseAboveUpperPnL and CloseBelowLowerPnL parameters.This is designed to allow it to manage the orders created by a particular expert advisor.įinally, before starting you will usually want to do one of the following: You can also choose to restrict the EA so that it only looks at orders which have a specific "magic number". (If the EA is to manage all orders, then it does not matter which chart the EA is attached to.) ![]() If you want P/L Manager to handle all orders for all instruments, then attach it to any chart, and set its " ApplyToAllSymbols" setting set to true.EURUSD), then attach it to a chart for that symbol, and leave its " ApplyToAllSymbols" setting set to false. If you want P/L Manager to handle the orders for a single symbol (e.g.You can use P/L Manager in either of two ways: The "Allow DLL imports" setting must also be turned on if you want to shut down MT4 when the target is hit. The EA's "Allow live trading" setting must be turned on before starting. You start P/L Manager by attaching the EA to a chart in MetaTrader. Alternatively, P/L Manager can be used to provide alerting on another EA, sending out messages if its profitability goes outside certain bounds. ![]() P/L Manager can then act as a fail-safe for the EA, closing out its positions if the EA misbehaves in some way and exceeds a profit target or stop-loss. which places automated orders) on one chart, and run P/L Manager on another chart for the same symbol. One further point: you can run a normal EA (i.e. In other words, P/L Manager can be used as a simple close-all script. You can also choose to terminate all positions manually, by setting the ImmediateOrderClose property. In addition to high and low triggers at which orders are closed, you can also define triggers at which alerts are sent (but no action is taken). ![]() You can also configure the EA to shut down MetaTrader 4 in order to prevent further trading by automated systems. When P/L Manager's trigger is hit and positions are closed down, the EA can issue an alert on screen and/or by email. It can also be restricted so that it only examines orders with a specific magic number (i.e. EURUSD), or to all open positions on all symbols. P/L Manager can either be applied to a single symbol (e.g. a take-profit level and a stop-loss level. You can specify both high and low triggers: i.e. Instead, when the combined profit/loss on open positions hits a defined target, P/L Manager closes all the open positions and deletes all pending orders. The EA is a simple tool for managing the profitability of orders in MT4. This document describes the P/L Manager expert advisor (EA) for MetaTrader 4. ![]()
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