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New EA project started. Help is appreciated.


New member
Hi guys,

I have started a project for creating an EA that I can use to enter and manage my trades. The EA does NOT enter trades by itself, I only need the EA to enter trades manually and manage those trades in a specific way. When I enter a trade I have a stoploss and two takeprofit levels. I close the trade in two steps.

I have created a list of wanted features and I have already made a start with the proramming.

Unfortunately my MQL programming skills are modest and I am hoping you guys can help me. My wish is to create the EA myself and learn something with the help of the community and share the result for those who think it's useful.


Entering Trades:
- Enter trades manually with a hotkey combination
- Money Management (calculate lotsize based on three choosable risk levels: low, medium, high)
- Calculate the StopLoss based on a maximum risk percentage.
- Open a messagebox and ask for the 1st and 2nd take profit price.
- Draw horizontal lines in MT: StopLoss, TakeProfit1, TakeProfit2, x%OfTakeProfit1, x%OfTakeProfit2(counted from the 1st takeprofit level).

Managing Trades:
- When StopLoss is reached, exit the trade.
- When x% of the 1st takeprofit is reached, Move the initial Stoploss to break even.
- When the 1st takeprofit is reached, close the trade for x% and let the remaining part run.
- When x% of the 2nd takeprofit is reached, counting from the 1st takeprofit level, move the stoploss, which is still at break even, to the takeprofit 1 level.
- When the 2nd takeprofit is reached, close the remaining part of the trade and remove the lines.

- The stoploss and takeprofit levels must run in metatrader and are not placed at the broker. Horizontal lines must be drawn, visible and configurable.

- The EA must be independant of ticks being received. When you press a hotkey for entering a trade, the trade must be entered 'at once' without having to wait for the next tick.

- Logging of trades in an excelsheet. The information must be the same as in the Terminal - Account History but with some extra fields: "PIP profit/loss" and "Max. DrawDown (per trade)"

So far the feature list. Green means I have already created that.

I will post every new version of the EA here.

So any help, suggestions, ideas, improvements etc. are very much appreciated!

Thank you!


  • iwc-trade-manager.mq4
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