AutoSLTP
AutoSLTP is a utility EA that automatically sets Stop Loss (SL) and Take Profit (TP) levels on open positions that lack them. It monitors existing trades and applies predefined SL/TP values based on user configuration, acting as a risk management assistant rather than a strategy-based trading system.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
Not backtested yet — this EA could not be converted automatically.
Strategy analysis
AutoSLTP does not execute any trading strategy on its own; it does not open positions based on technical indicators or market signals. Its core functionality is to continuously scan all open positions in the user's account, detecting which positions lack a stop loss or take profit. When it finds positions without SL/TP, it automatically applies stop loss and take profit orders based on the user's predefined parameter values. In terms of position sizing, this EA does not involve lot size calculation since it only modifies existing positions rather than opening new ones. Regarding money management, it helps users control maximum loss per trade by enforcing stop loss placement, which serves as a passive risk management tool. Exit conditions depend entirely on the user-configured SL/TP values, with the platform automatically closing positions when market price reaches the stop loss or take profit level.
Strengths
- Automatically supplements risk management for positions lacking SL/TP, preventing unlimited losses from forgotten stops
- Can filter positions by magic number to manage specific EA's trades, avoiding unintended modification of other strategies' positions
- Works as a companion tool compatible with any trading strategy without interfering with the original strategy logic
Weaknesses
- SL/TP are set as fixed pip values without considering market volatility (e.g., ATR), which may be inappropriate under varying market conditions
- Default parameters for SL and TP are both 0, meaning the EA does nothing if parameters are not changed; beginners may mistakenly think it is non-functional
- Lacks intelligent adjustment for positions that already have SL/TP; only acts on positions missing them, making functionality rather limited
Possible improvements
- Add ATR-based dynamic SL/TP calculation option so that risk management settings can adapt to market volatility
- Add functionality to modify or optimize positions that already have SL/TP, such as moving stop loss to breakeven
Risk assessment
Overall risk: Safe
- Default SL/TP parameters are 0; if user does not configure correctly, the EA provides no protection at all
- Fixed-pip stop loss may get triggered during volatile spikes before price reverses, causing unnecessary losses
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
StopLoss | 0 | Auto stop loss in points; 0=disabled |
TakeProfit | 0 | Auto take profit in points; 0=disabled |
MagicNumber | 0 | Unique EA order identifier preventing conflicts |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.