Auxiliary closing tool
An auxiliary utility EA for MetaTrader 5 that provides automated closing functionality for existing positions. It does not open trades on its own but assists traders in managing and closing positions based on configurable conditions such as profit targets, loss limits, or other criteria.
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 an auxiliary closing tool that does not possess an autonomous trading strategy and will not open positions based on market signals. Its primary function is to monitor existing positions and execute closing operations based on preset conditions such as reaching profit targets, hitting stop loss levels, or satisfying time-based criteria. In terms of position management, the tool only handles closing rather than opening, so it does not involve lot size calculations. Money management is implemented through protective features like profit targets and maximum loss limits. Overall, this is an auxiliary utility designed to help traders automate the closing process, reducing manual operation delays and emotional interference while improving trading discipline.
Strengths
- Automates the closing process, reducing manual operation delays
- Configurable profit and loss thresholds protect account capital
- Auxiliary nature does not interfere with main strategy position logic
- Supports filtering positions by magic number for use with multiple EAs
- Reduces emotional trading decisions and improves trading discipline
Weaknesses
- Depends on the quality of the main strategy's entries, cannot judge entry timing itself
- Improperly set closing conditions may lead to premature exits or expanded losses
- Lacks advanced risk management features like trailing stops or partial closing
- As a utility its functionality is relatively limited, cannot replace a full trade management system
- Network latency or server disconnection may prevent timely position closing
Possible improvements
- Add trailing stop functionality to dynamically protect profits
- Support partial closing strategies, allowing position scaling out while keeping remaining exposure
Risk assessment
Overall risk: Safe
- Misconfigured closing conditions may cause unexpected full position closure
- Extreme market slippage may cause actual closing prices to deviate from expected levels
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
ProfitTarget | N/A | Target profit amount for closing all positions |
LossLimit | N/A | Maximum loss amount for closing all positions |
CloseAllOnFriday | N/A | Whether to close all positions on Friday |
MagicNumber | N/A | Magic number filter for order selection |
CloseCondition | N/A | Close position trigger condition type |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.