Expert Advisors

Multiple Stops and Take Profits

Developer: FXCM

MetaTrader 4 is a powerful platform with many advanced features. However, the platform only allows traders to use a single stop and single limit on any single position.

Multiple Stops and Take Profits changes that.

Multiple Stops and Take Profits attaches up to three stops and three take profits to individual positions. Simply start the app, place an order, and then add up to three stops and three take profits.

INPUTS

The following inputs are available in the app’s inputs window and can be defined by the app user:

Trading Parameters

  • Open Trade: select which open position to apply a stop and take profit
  • Account: your account number
  • Allow Trading: select Yes to enable

Stop/Take Profit 1

  • Take Profit Pips 1: enter an amount (in pips) from the market price to set Take Profit 1
  • Stop Pips 1: enter an amount (in pips) from the market price to set Stop 1
  • Close-Amount 1: amount of the position that closes if either Take Profit Pips 1 or Stop Pips 1 is hit

Stop/Take Profit 2

  • Take Profit Pips 2: enter an amount (in pips) from the market price to set Take Profit 2
  • Stop Pips 2: enter an amount (in pips) from the market price to set Stop 2
  • Close-Amount 2: amount of the position that closes if either Take Profit Pips 2 or Stop Pips 2 is hit

Stop/Take Profit 3

  • Take Profit Pips 3: enter an amount (in pips) from the market price to set Take Profit 3
  • Stop Pips 3: enter an amount (in pips) from the market price to set Stop 3
  • Close-Amount 3: amount of the position that closes if either Take Profit Pips 3 or Stop Pips 3 is hit

Note: The sum of all Close-Amount figures must be less than or equal to the size of the order.

Risk Disclaimer

The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.

Requirements

This app is only compatible with FXCM MetaTrader 4 software. It does not operate on MetaTrader 4 software provided by any other brokerage. An FXCM live or demo account is required.