AutoSet SL TP
AutoSet SL TP is a utility EA that automatically sets Stop Loss and Take Profit levels for trades that are opened without them. It monitors open positions and applies predefined SL/TP values based on user configuration, ensuring no trade is left unprotected.
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
This EA is not a trading strategy but rather a position management utility. Its core function is to continuously monitor all open positions, detect those missing stop loss or take profit levels, and automatically apply predefined SL/TP values to them. Regarding entry conditions, the EA does not generate trading signals but acts as a supplementary tool after trades have already been opened. For exit conditions, it indirectly manages exits by setting SL/TP levels but does not execute closures itself. In terms of position sizing, it does not calculate lot sizes for new entries, only supplementing risk parameters for existing positions. For money management, the EA indirectly supports capital preservation by ensuring every trade has stop loss protection, preventing unlimited loss exposure from trades opened without SL. The overall design philosophy is defensive, aimed at mitigating the risk of trades left unprotected without proper stop loss and take profit levels.
Strengths
- Automatically supplements missing SL/TP, effectively preventing risk from unprotected positions
- Serves as a complementary tool for other EAs or manual trading, enhancing overall risk management
- Simple setup with intuitive parameters, users can start using it without complex configuration
Weaknesses
- Fixed pip-based SL/TP may not suit all market volatility conditions, lacking dynamic adjustment capability
- Does not differentiate volatility characteristics of different instruments, applying same SL/TP to all symbols
- Cannot dynamically calculate risk ratios based on account balance or position size, insufficient risk management flexibility
Possible improvements
- Add ATR-based dynamic SL/TP functionality to automatically adjust levels according to market volatility
- Support per-symbol SL/TP configuration to accommodate volatility characteristics of different trading instruments
Risk assessment
Overall risk: Safe
- Fixed stop loss pips may be too large or too small during extreme market conditions, unable to adapt to current volatility
- If the EA unexpectedly stops running, newly opened trades will lack automatic stop loss protection
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
StopLoss | 500 | Auto stop loss in points |
TakeProfit | 1000 | Auto take profit in points |
ApplyToNewOrders | true | Apply SL/TP to new orders |
MagicNumber | 0 | EA magic number; 0 monitors all orders |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.