Close by percentage MT5

For Forex traders leveraging MetaTrader 5, the Close by Percentage MT5 utility offers an efficient solution to manage and limit trading losses. With the ability to set a specific percentage for closing all trades on an account, this utility significantly enhances your Expert Advisor (EA) strategy.

Understanding Close by Percentage MT5

The key feature of the Close by Percentage MT5 utility is its functionality that permits traders to limit their losses without having to adjust the parameter “Close positions at percentage of loss” on each chart. Instead, one additional chart needs to be opened, the utility attached, and the desired percentage for closing all trades on the account set.

Functionality of Close by Percentage MT5

Close by Percentage MT5 offers a range of configurable options to align with individual trading strategies.

Close Trades by Loss or Profit Percentage

Users can set a percentage of floating loss from the balance at which positions are closed. Similarly, a percentage of floating profit from the balance can be set at which positions are closed. If either of these functions are set at 0, they are not active.

Close Trades by Loss or Profit Money

The utility also allows traders to close positions based on a floating loss or profit in the deposit currency. Like the percentage-based functions, if these options are set at 0, they are inactive.

Select Trades

The “Select trades” function provides flexibility in how positions are considered. Traders can choose to consider all positions on the account simultaneously or consider positions for different symbols or magic numbers separately. The latter is particularly useful for those using multiple Expert Advisors.

Independent Testing and Updates

For those interested in observing how the Close by Percentage MT5 utility performs, independent testing results can be viewed on the forexroboteasy.com website. Subscriptions for updates on these testing results are also available.

FAQ

What is the Close by Percentage MT5 utility?

The Close by Percentage MT5 is a utility designed for Forex trading on the MetaTrader 5 platform. It allows traders to set a specific percentage for closing all trades on an account, enhancing their EA strategy.

Can I use the Close by Percentage MT5 with multiple Expert Advisors?

Yes, the utility is designed to work seamlessly with multiple Expert Advisors. It offers a unique “Select trades” function, allowing traders to consider positions for different symbols and magic numbers separately.

Where can I see the results of independent testing of the utility?

The results of independent testing of the Close by Percentage MT5 utility can be viewed on the forexroboteasy.com website. You can also subscribe to receive updates on the testing results.

We invite users of the Close by Percentage MT5 to share their experiences using this tool. This independent review aims to provide an unbiased look at the utility and its functionalities. Remember, the best way to understand if a tool or strategy works for you is to test it in your trading environment.