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Sunday, October 7, 2012

Multiple Trades Manager Expert Advisor (EA) for Metatrader

The Trade Manager EA is a very useful expert for MT4 that monitors several Forex trades of your choice, allowing you to walk away from your computer knowing that your positions are being taken care of according to parameters you specify. The expert can monitor trades that were entered manually and trades that are generated by other Expert Advisors.

Trade Manager is able to perform the following 4 tasks for you:

1- For trades entered without a Stop Loss or Take Profit, the levels can be set by the expert according to the number of pips specified by you in the PipsTP and PipsSL parameters.

2- Move Stop Loss to breakeven after the trade(s) is in profit by a number of pips specified by you in the PipsProfit parameter.

3- Stop Loss trailing, according to a distance in pips specified by you. Trailing stop condition gets activated after a number of pips in profit also specified by you.

4- Close a basket of trades when a profit amount in $$$ has been reached by the combination of the selected trades of your choice.

The expert has an OrderIDs parameter where the trader specifies the Order identifiers of trades he wants the expert to monitor. The Order Ids of the trades to monitor are entered here separated by a comma, for example: 34564,34565,34566 if you wanted the expert to monitor trades whose Ids are 34564, 34565 and 3456. The expert is able to monitor and manage up to 100 trades at the same time.

How to know the Order Ids of the trades? It is simple: just open your Terminal window (View -> Terminal) and on the Trade tab you will see all your open trades. The Order column of each row displays an integer value, that's the unique identifier of the trade, generated by Metatrader.

(Click on image to enlarge)

At the same time Trade Manager can monitor and manage trades whose OrderIds are generated on the fly by other EAs. Obviously these are OrderIds that you don’t know in advance. But, by knowing the Magic Number of the EAs that generate the trades, TradeManager can take over those positions as well via the MagicNumbers parameter. This way, every trade generated by the EA with the specified MagicNumber can be managed by TradeManager.

In addition, you can also specify Currency Pairs if you want all the trades on a certain currency pair to be managed by Trade Manager. You can specify more than one currency pair separating them by comma. For example: GBPUSD,AUDUSD,EURUSD will make the EA be in charge of all the trades in these currency pairs.

Parameters OrderIDs, MagicNumbers and CurrencyPairs are all optional. You can specify only one of them or all three of them at the same time as you wish according to your needs.

Parameters Configuration

OrderIDs: Ids of the orders you want the expert to monitor. The Order identifiers need to be comma separated.

MagicNumbers: The magic number or numbers of other EAs that generate trades and you want Trade Manager to manage. You can enter more than one Magic Number separating them with commas.

CurrencyPairs: Currency pairs of orders you want the expert to monitor. A single currency pair can be specified. If the trader wants to specify more than one, they need to be comma separated.

ManageTPandSL: Defines whether you want the EA to set Take Profit and Stop Loss on the selected orders (The TP and SL will be set if the orders don't have any SL or TP set yet. If they do, the EA respects that. It will only set TP and/or SL if the TP or SL value of an order hasn't been specified yet )

PipsTP: Number of pips to set as TP from entry if ManageTPandSL set to true and if the order analyzed doesn't have any TP specified yet.

PipsSL: Number of pips to set as SL from entry if ManageTPandSL set to true and if the order analyzed doesn't have any SL specified yet.

ManageSLtoBreakeven: Defines whether you want the EA to move stop loss to breakeven on trades that have achieved a specific number of pips in profit.

PipsProfit: Number of pips in profit needed in order to move Stop Loss to breakeven on selected trades if ManageSLtoBreakeven set to true.

ManageTrailingStop: Defines whether or not you want Stop Loss to be trailed on your selected trades. 

AfterPipsProfit: Number of Pips in profit after which the Trailing Stop condition will start being monitored. Default 40 pips, meaning after 40 pips in profit the EA will start to implement a Trailing Stop loss. 

TrailingDistance: Number of pips to use as Stop Loss distance. 

CloseBasketAtBalance: Defines whether or not you want all the monitored trades to be closed at the same time when the combined balance in money is reached. 

BasketBalanceToClose: Balance threshold of selected trades that when achieved will cause closure of all the monitored trades. This balance value can be either positive (close all the trades when a combined profit is achieved) or negative (close all the trades when a certain combined loss is reached )

As part of your purchase you will also get a pdf Guide with Installation instructions and the already covered explanation of the different parameters.

I hope this expert becomes a useful tool in your trading, and that you can benefit from it.

Trade Manager $15.00

It is a one time payment only and you can use the expert in as many Metatrader accounts as you want. If you have any problem with the indicator feel free to contact me at

For more indicators and tools visit the Products page.

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