Single Breakeven EA for MT4/MT5

One of the most popular ways to protect your trades against losses is to move the stop-loss to a breakeven. In the most basic case, when each trade has its stop-loss set to its open price, this can be easily attained using either a breakeven script or a breakeven EA. However, sometimes you have multiple positions open on the same symbol and want to have a single breakeven level that takes them all into account. That's where the Single Breakeven expert advisor comes handy.

What is Single Breakeven EA?

The Single Breakeven EA for MT4 and MT5 is an expert advisor that analyzes all your open trades for the current symbol (currency pair or any other trading instrument) and calculates a single breakeven price to close all those trades at no loss. It then applies the calculated level to each position's stop-loss or take-profit (depending on their direction and open price).

This expert advisor can also wait for the total profit of all the current chart's trades to reach a certain given value before turning on this collective breakeven.

Also, with this EA, you can set additional profit value, which will be used by the EA to secure some extra profit with the breakeven.

Moreover, the Single Breakeven EA can be configured to take into account the swaps and commission charges associated with the trades to calculate its breakeven level.

This expert advisor constantly monitors and, if necessary, updates your positions as the Bid/Ask price evolves or the pip value changes.

Why use Single Breakeven EA?

Risk management is an important part of trading. One of the ways to manage your risks is to predefine the price points where you positions get closed.

When trading a complex system that requires multiple positions on the same symbol (for example, a grid trading system), it might be helpful to set a single breakeven level after to total profit has reached some predefined value. While it is easy to draw such a level with our Breakeven Line indicator, applying all the correct stop-loss and take-profit values manually might be tedious and suboptimal.

The Single Breakeven EA is the tool that lets you automate the entire process of calculating and setting such collective breakeven exits.

Using the Single Breakeven EA for MetaTrader 4 and 5 provides the following advantages:

1. Extensive filters to include only those trades that you want the EA to manage.
2. Fully automatic mode.
3. Define profit threshold for the breakeven to be applied.
4. Notifications when the SL/TP are updated.
5. Additional profit value to add to breakeven.
6. Add commission and swaps to breakeven.
7. Define a delay for order updating to prevent flooding the server.

Input parameters

The Single Breakeven expert advisor supports a range of input parameters to be configured by the trader:

• Total profit in currency to trigger single BE: how many units of currency should the total profit be for the EA to apply breakeven?
• Additional profit in currency for single BE: how many units of currency in profit to add to the collective breakeven price?
• Adjust single BE to which price?: can be one of three options:
  • Don't adjust: Buy and Sell trades will be closed at the same single BE price. However, since the Buy trades are closed at Bid while the Sell trades are closed as Ask, they won't close all at the same time.
  • Adjust to Ask price: The Buy trades will have the spread value subtracted from their BE price to get closed at the same time as the Sell trades.
  • Adjust to Bid price: The Sell trades will have the spread value added to their BE price to get closed at the same time as the Buy trades.

  If no adjustment is applied, it may occur so that the Buy trades are closed without the Sell trades closing or vice versa.

• Delay (sec) between adjustments: the number of seconds to wait before applying a recalculated breakeven SL/TP. Used to avoid flooding the trading server with order modification requests.
• Adjust for swaps & commission?: the BE level will be adjusted based on the positions' total swaps and commission.
• Apply to: select which types of orders to apply a breakeven to.
• Filter by magic number: if true, the EA will modify only the orders with a specific magic number.
• Magic number: specify the magic number in case the above is true.
• Filter by comment: if true, the EA will modify only the orders with a specific comment.
• Comment: specify the comment if the above is true.
• Enable Breakeven EA: if true, the EA will start in active mode and will be tracking your trades immediately.
• Enable notifications feature: if true, the EA will send notifications upon setting a breakeven.
• Send alert notifications: if true, the EA will issue native on-screen alerts.
• Send notifications to mobile: if true, the EA will send push-notifications to your mobile device.
• Send notifications via email: if true, the EA will send emails when it updates a stop-loss.
• Show graphical panel: if true, a graphical panel will appear on the chart to control the expert advisor.