Close AfterX Pips EA
Logic:
Pips-Based Closure:
- Closes trades after reaching a specified number of pips.
- Configurable to close trades either in profit or loss based on the set parameters.
- Utilizes the CloseAfterXpips parameter to define the pip threshold for closing trades.
- Trades are closed when they reach the defined pip level in either direction, ensuring automatic management of open positions.
Order Management:
- Filters trades by Magic Number and Symbol if specified, allowing for selective trade management.
- Implements FilterByMagicNumber and FilterBySymbol to ensure only relevant trades are managed.
- Can send test trades in backtesting mode to simulate trade execution and closure behavior.
- Displays the current status and settings in the comment section of the chart, providing real-time feedback on EA operations.
Broker Digit Adjustment:
- Adjusts the pip calculation based on broker’s price feed precision (digits), ensuring accurate pip value calculations across different brokers.
- Uses BrokerDigitAdjust to set the appropriate multiplier for pip conversion, accommodating brokers with varying decimal places in pricing.
Profit and Loss Management:
- If CloseInProfit is enabled, the EA will close trades that have reached the specified profit level in pips.
- If CloseInLoss is enabled, the EA will close trades that have reached the specified loss level in pips.
- Monitors each trade’s performance in real-time, using the CheckForCloseTradesAfterXpips function to determine if a trade should be closed based on its current profit or loss.
Backtesting and Reporting:
- Capable of sending test trades when backtesting to demonstrate the EA’s behavior under simulated conditions.
- Provides detailed journal entries for each closed trade, including the reason for closure (profit or loss) and the resulting financial outcome.
- Outputs information about the EA’s configuration and the number of open trades, ensuring transparency and ease of monitoring during operation.
