This convenient script is ideal for range traders who require a simple solution to exit a single trade (long or short) while entering a new trade in the opposite direction. That’s exactly what the Quick Close – Reverse Inputs script does. When the script is run, a single trade is closed based on a defined Magic Number. When this happens a new trade of equal size is entered in the opposite direction, along with a Stop Loss and a Take Profit.
The following inputs are available in the EA’s properties window and can be defined by the app user:
Money Management Inputs
MagicNumber: A unique identifier that allows the EA to account for and manage its trades
StopLoss: The stop price, as defined by a number of pips away from the open price
TakeProfit: The take profit price, as defined by a number of pips away from the open price
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.
This app is only compatible with FXCM’s version of MetaTrader 4. It will not operate on MetaTrader 4 software obtained from another broker. An FXCM account is also required. Individuals who do not have an FXCM account can register for a free FXCM Practice Trading Account (demo accounts) that is compatible with FXCM’s version of MetaTrader 4. Demo accounts allow users to test the software in a risk free environment.