Breakeven

Proseries

Trader
Jan 12, 2024
10
0
6
65
USA - NYS
Is this still working? I’ve tried all different settings and nothing changes.. maybe I’m doing something wrong. I downloaded the script to my mt4 script file. What settings should I place to have my break even + 2 pips work?
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,595
1,366
144
Odesa
www.earnforex.com
Is this still working? I’ve tried all different settings and nothing changes.. maybe I’m doing something wrong. I downloaded the script to my mt4 script file. What settings should I place to have my break even + 2 pips work?
Yes, it is definitely working. What happens when you run it? Perhaps there is some output in the Experts tab when you execute it?
 

Proseries

Trader
Jan 12, 2024
10
0
6
65
USA - NYS
Ok.. I download the zip script.. extract it then place files in Mt4 script file.
This is where I’ve tried different points to both to minimum and additional point areas.
My SL to trade price is 55 pips or 550 points.
I want to be in 2 pip profit when breakeven moves.
When I place my trade order I drag the breakeven over to my chart set the settings and hit ok..
When the price goes into 2pip profit my SL doesn’t move. I’ve let it run into 5 pip profit and still doesn’t move.
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,595
1,366
144
Odesa
www.earnforex.com
Ok.. I download the zip script.. extract it then place files in Mt4 script file.
This is where I’ve tried different points to both to minimum and additional point areas.
My SL to trade price is 55 pips or 550 points.
I want to be in 2 pip profit when breakeven moves.
When I place my trade order I drag the breakeven over to my chart set the settings and hit ok..
When the price goes into 2pip profit my SL doesn’t move. I’ve let it run into 5 pip profit and still doesn’t move.
It doesn't work like that. The script runs only once when you attach it to the chart. If the trade is already in enough profit when you run the script, it moves the SL to the given BE level. That's it. The script won't be there to monitor the positions and apply the BE.
 

Proseries

Trader
Jan 12, 2024
10
0
6
65
USA - NYS
Thank u, so that I understand… when my profit reaches 3 pips I set the breakeven script.
What setting do I use to have my SL move to a 2 pip profit mark?
The reason for all this is I’m a scalper on the 1 min chart. My take profit is between 3-5 pips on each trade. I’ve noticed more than half of my trades will run into 9-12 pip profits so I’m looking to breakeven at 2 pips but letting it run to 9 or more pips. I have an Auto SL/TP EA that sets everything but I noticed u also have a script that appears to do the same thing. Can I run 2 scripts at the same time and run a Trailing Stop EA?
 
Last edited:

Enivid

Administrator
Staff member
Nov 30, 2008
18,595
1,366
144
Odesa
www.earnforex.com
Thank u, so that I understand… when my profit reaches 3 pips I set the breakeven script.
What setting do I use to have my SL move to a 2 pip profit mark?
Additional profits to 20 (considering there are 20 points in 2 pips) and minimum current profit to 30.
The reason for all this is I’m a scalper on the 1 min chart. My take profit is between 3-5 pips on each trade. I’ve noticed more than half of my trades will run into 9-12 pip profits so I’m looking to breakeven at 2 pips but letting it run to 9 or more pips. I have an Auto SL/TP EA that sets everything but I noticed u also have a script that appears to do the same thing. Can I run 2 scripts at the same time and run a Trailing Stop EA?
You can run as many scripts as you like because they are never run at the same time. They can only be run consequently. And yes, you can still run scripts on the chart if there is an EA attached to it.
 

DanielC78

Trader
Mar 19, 2024
9
0
6
50
Hello, when I install the script on my MT5 and setup a hot key (ALT + B), when I press it, it open the dialog box of the script and also the below windows.
Do you know if there's a way to avoid the windows to open?

Thanks

1710850433015.png
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,595
1,366
144
Odesa
www.earnforex.com
Hello, when I install the script on my MT5 and setup a hot key (ALT + B), when I press it, it open the dialog box of the script and also the below windows.
Do you know if there's a way to avoid the windows to open?

Thanks

View attachment 27768
Setting it to some other combination will help you avoid the tick chart window popping up, but if you want to remove the script's inputs window, you need to modify the script's source code. Find this line:
MQL5:
#property script_show_inputs
Change it to:
MQL5:
//#property script_show_inputs
Re-compile the script.
 

DanielC78

Trader
Mar 19, 2024
9
0
6
50
Setting it to some other combination will help you avoid the tick chart window popping up, but if you want to remove the script's inputs window, you need to modify the script's source code. Find this line:
MQL5:
#property script_show_inputs
Change it to:
MQL5:
//#property script_show_inputs
Re-compile the script.
Many thanks, that's great. I'll do this because it's easier for me to use ALT + B for breakeven
 

Simon.m

Newbie
May 3, 2023
4
0
2
41
Good day to Earn Forex team!

Knowing that I use the EA position sizer and I open my trade with TP1 and TP2 split 50%/50%. My TP multiplier for SL is 1.0.

I am currently looking for a way to move one of the two stop-loss automatically at Breakeven to a R/R level = 1 or the exact position of the TP line. In my idea the SL would be moved to TP1 line after price is just over a few pips. Pls let me precise that I do not apply take-profit.

I am trying to reduce my risk by cutting half of my position when reaching TP1, this way I can't lose money. But the better option would be to have the stop-loss placed as Breakeven. In this case if the market shoots up, I can keep 100% of my position.

I hope my suggestion is understood and some may find it interesting. If Position Sizer can add as comment a suffix TP1, TP2, etc... I can use this script to sort positions using comments. And if the script calculates the number of pips automatically from entry to stop loss, it could move the stop-loss as proposed.

Many thanks for your good work!
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,595
1,366
144
Odesa
www.earnforex.com
Good day to Earn Forex team!

Knowing that I use the EA position sizer and I open my trade with TP1 and TP2 split 50%/50%. My TP multiplier for SL is 1.0.

I am currently looking for a way to move one of the two stop-loss automatically at Breakeven to a R/R level = 1 or the exact position of the TP line. In my idea the SL would be moved to TP1 line after price is just over a few pips. Pls let me precise that I do not apply take-profit.

I am trying to reduce my risk by cutting half of my position when reaching TP1, this way I can't lose money. But the better option would be to have the stop-loss placed as Breakeven. In this case if the market shoots up, I can keep 100% of my position.

I hope my suggestion is understood and some may find it interesting. If Position Sizer can add as comment a suffix TP1, TP2, etc... I can use this script to sort positions using comments. And if the script calculates the number of pips automatically from entry to stop loss, it could move the stop-loss as proposed.

Many thanks for your good work!
Not sure why you need different comments for your two trades if you want the SL moved to breakeven for both? You can do that either with this script (but you have to run it manually) or you can do the same with Position Sizer (automatically).
 
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Reactions: Simon.m

Simon.m

Newbie
May 3, 2023
4
0
2
41
Not sure why you need different comments for your two trades if you want the SL moved to breakeven for both? You can do that either with this script (but you have to run it manually) or you can do the same with Position Sizer (automatically).
Pls let me try to be clearer, I only want to move the stop-loss of the first of the two trade and I only enter by draging stop-loss manually. So for the first trade, as soon as the price is few pips higher than XX points (XX being equal to distance in point from original stop-loss to price of entry line), I want to move stop-loss to Breakeven at XX points. The second trade I keep stop-loss untouched. If price goes down and touch stop loss of first trade at XX points, I pocket XX profit. Then my second trade is covered, I can't lose anymore. I think it is a good way for psychology, as intraday trader after a few seconds I know that my trader can't lose. So that's why there is idea to add TP1 and TP2 in comment.