Single Breakeven

[Enivid]

This thread is dedicated to the Single Breakeven expert advisor for MT4 and MT5. This EA allows you to set a single breakeven level for all the trades on the current chart's currency pair. You can discuss it here, ask any questions about this free MetaTrader EA, report bugs, or make suggestions for its further development. Feel free to share your own modifications to its code.

 

[natterphony]

Should I input number of pips or $ for total profit to trigger single breakeven?

 

[Enivid]

It's in account currency.

 

[Enivid]

Single Breakeven EA has been updated to version 1.01 to fix a problem calculating correct point value for some symbols and to make a cBot version of the EA for cTrader.

 

[Itzkream]

Is there a function for trailing single breakeven that trails the profit as it grows? Similar to account protector but for all the trades combined into one breakeven?
Are there any other suitable EAs for martingale/grid/multiple layer trading? Appreciate your advice.

 

[Enivid]

Is there a function for trailing single breakeven that trails the profit as it grows? Similar to account protector but for all the trades combined into one breakeven?
Are there any other suitable EAs for martingale/grid/multiple layer trading? Appreciate your advice.

Maybe I am misunderstanding what a "trailing single breakeven" is, but this EA (Single Breakeven) does exactly what you describe further. It uses one breakeven price for all trades on the same currency pair.

 

[Itzkream]

Maybe I am misunderstanding what a "trailing single breakeven" is, but this EA (Single Breakeven) does exactly what you describe further. It uses one breakeven price for all trades on the same currency pair.

Yes I understand those functions, What I meant is, is there a setting that would enable the breakeven to trail profit as it increases rather than staying fixed. Thanks!

 

[Enivid]

Yes I understand those functions, What I meant is, is there a setting that would enable the breakeven to trail profit as it increases rather than staying fixed. Thanks!

You mean a trailing stop, not a breakeven then? The Account Protector has an equity trailing stop feature, which can work like that for your account.

 

[Itzkream]

You mean a trailing stop, not a breakeven then? The Account Protector has an equity trailing stop feature, which can work like that for your account.

Hi yes, I have tested the account protector before. However, what I need is a single breakeven for multiple trades (for a grid system with multiple layers) and was wondering if the single breakeven could trail the profit as well.

 

[Enivid]

Hi yes, I have tested the account protector before. However, what I need is a single breakeven for multiple trades (for a grid system with multiple layers) and was wondering if the single breakeven could trail the profit as well.

No, it can only do a single breakeven, without trailing. You can combine EAs to have both.

 

[Itzkream]

No, it can only do a single breakeven, without trailing. You can combine EAs to have both.

Oh i did not know combining them were possible. Would you be able to assist in showing which settings to turn on etc to make this possible? Are there perhaps other channels for us to discuss this further? Thanks for your help.

 

[Enivid]

Oh i did not know combining them were possible. Would you be able to assist in showing which settings to turn on etc to make this possible? Are there perhaps other channels for us to discuss this further? Thanks for your help.

You open two charts. You attach one EA to one chart. You have two EAs running.

 

[Itzkream]

i see. Could I get your advice on which settings i need to enable on both to achieve my desired result?

 

[Enivid]

i see. Could I get your advice on which settings i need to enable on both to achieve my desired result?

Yes, you can ask about the Single Breakeven EA here, describing what you are trying to achieve. And you can ask about your desired TSL setup in the Account Protector's thread.

 

[Itzkream]

Yes, you can ask about the Single Breakeven EA here, describing what you are trying to achieve. And you can ask about your desired TSL setup in the Account Protector's thread.

Okay. Basically i want to achieve 2 things with the 2 EAs "Account Protector" and "Single Breakeven":

1. I mainly open multiple layers in a trade. For example, for a buy trade, I would open layers as the price moves down (5000, 4999, 4998, 4997 etc). I would like "Single breakeven" to trigger once the price clears all trades/reaches a certain profit amount. For example, floating profit reaches 20 USD, breakeven should be set at 10 USD floating profit to provide some buffer.

2. After which, I would like for "Account Protector" to continuously trail the breakeven stop loss level as the profit grows. This is very much possible for per position basis on "Account Protector" but not sure if it could apply to my scenario.

Thanks for your help!

 

[Enivid]

1. I mainly open multiple layers in a trade. For example, for a buy trade, I would open layers as the price moves down (5000, 4999, 4998, 4997 etc). I would like "Single breakeven" to trigger once the price clears all trades/reaches a certain profit amount. For example, floating profit reaches 20 USD, breakeven should be set at 10 USD floating profit to provide some buffer.

For this, you just set the Total profit parameter to 20 and Additional profit to 10.