This is a trial version that works only with demo accounts. This tool (EA) allows you to automatically set SL (stop loss) and TP (limit price) when you take a discretionary position using MT4. You can specify how many pips away from the execution price to place the SL and TP. Using this tool, you can avoid the hassle of setting SL and TP manually and prevent forgetting to do so. The SL and TP are changed approximately one second after a position is taken. Take a position

↓↓ SL and TP are set after about 1 second (in this case, set at 30 pips)

SL and TP can be set simultaneously, or only SL or only TP can be set.

Break Even

A break even function is also provided. Break Even is a function that changes the SL to the open price when a profit of more than a specified number of pips is made. This eliminates the risk of incurring losses on trades with unrealized profits. Example. Go long at 100.00 and set break even at 20 pips ↓. Change SL to 100.00 when the rate goes above 100.20 (+20 pips) This eliminates the possibility of loss.

Trailing Stop

You can also set a trailing stop. A trailing stop is a trading technique that follows market fluctuations and keeps changing the SL to a certain point below the rate to turn large fluctuations into profits. Example. Go long at 100.00 and set trailing stop at 20 pips ↓. When the rate reaches 100.21, change SL to 100.01 (Only works if the rate minus the trailing stop is greater than the open price. Thereafter Rate 100.30 → SL100.10 Rate 100.40 → SL100.20 The profit is secured by raising the SL. When the rate falls to the SL, the profit will be taken there. This mechanism is provided in MT4, but the advantage of using this tool is that you do not have to make settings for each trade. In order for the break even and trailing stop to work, MT4 must be running continuously. Once SL and TP are set, they will function even if MT4 is closed.

You can use only the functions you need.

SL, TP, Break Even, and Trailing Stop can be turned on and off individually. Use SL and break even, and manually set profits. Use SL and trailing stop to increase profit while minimizing risk You can use both SL and trailing stop to increase profit while minimizing risk.

You can display comments about your settings on the chart.

Tool settings are displayed as comments in the upper left corner of the chart. You can see how the tool works without having to open the screen where you set the parameters. スクリーンショット 2020-12-07 23.49.25.png

If you do not need it, you can hide it.

Manual included

A manual describing how to install the system on MT4 is included. スクリーンショット-2020-11-11-16.09.43.jpg

There is a monthly version with the first month free

This tool has a monthly version. The first month is free, so there is no charge if you cancel after trying it out. This is recommended for those who want to check the usability of the tool on an actual account before deciding whether or not to install it. You can download it from the following page. Monthly version (first month free)] Automatic SL/TP setting tool [KEN_AUTO_SL_TP

Click here for the buyout version

The buy-out version can be purchased from the following page Automatic SL/TP setting tool [KEN_AUTO_SL_TP

Can be used for non-discretionary trading

By default, MAGIC NUMBER is set to "0" for discretionary trades and does not affect the MAGIC NUMBER trades used by other automated trading systems. Changing the MAGIC NUMBER will affect the positions in question. This will interfere with the operation of other automated trading systems, so please consider the impact before using the system.

Parameters

ShowComment Sets whether or not the setting is displayed on the chart. Default is true (show), and false (not show). magicNumber You can change the magicNumber. For discretionary trades, leave the default value "0". UseSL Sets whether or not to use the automatic SL. If set to "true", use SL, if set to "false", do not use SL. Default is true. SL Sets the SL value. Specify the value in pips. The default is 30. UseTP Specifies whether or not to use automatic TP. If true, use TP; if false, do not use TP. Default is true. TP Sets the TP value. Specify the value in pips. The default is 30. UseBreakEven Sets whether break even is used or not. If true, use break even, if false, do not use break even. Default is true. BreakEven Sets the break even value. Specify in pips. Default is 30. UseTrailingStop Specifies whether or not to use the trailing stop. If set to "true", the trailing stop is used; if set to "false", the trailing stop is not used. Default is true. TrailingStop Sets the value of the trailing stop. Specify the value in pips. Default is 30.

Please note

Please note that brokers with stop levels set will not work if the SL or TP value is less than that. Please note that EAs will not work in accounts where EAs are disabled. Please note that EAs will not work in accounts where EAs are not allowed to be used. The tool works on all discretionary positions of the currency pair on the chart where the tool is installed. 　For example, if you place the tool on the chart of the dollar-yen, the SL and TP will be changed for all discretionary positions of the dollar-yen with the same settings. 　If you have other expert advisors for automated trading running on other charts, they will not interfere with your positions. 　The MAGIC NUMBER is set to "0" for discretionary trades and will not affect other MAGIC NUMBER trades. 　Changing the MAGIC NUMBER will affect the position in question. 　This will interfere with the operation of other expert advisors, so please take this into consideration before use. We will not compensate for any losses incurred by the use of this tool. 　Please understand this in advance.

【試用版】自動SL・TP設定インジケーター【KEN_AUTO_SL_TP】