Move Stop to Breakeven MT4/MT5 EA

Moving stop-loss to a breakeven is popular among traders who wish to safeguard their gains and to let the profits run without incurring a risk of loss. With Move Stop to Breakeven MT4 EA or Move Stop to Breakeven MT5 EAyou can have your stop-loss orders moved to a breakeven point automatically when a positive price move covers some specific distance.

What is Move Stop to Breakeven EA?

Move Stop to Breakeven MT4 EA (and its MT5 version) is an expert advisor that can manage stop-loss of your trades.

In particularthis expert advisor can detect when the current price is at some specified minimum distance from the trade's open price and move the stop to breakeven.

In many casesyou might want to increment the stop-loss of a specific value when the price is far enough from the current stop. With this EAyou can even define a surplus breakeven value to fixate a small additional profit instead of a classic breakeven.

This is similar to a Fixed Step Trailing Stop EAbut instead of continuously trailing the stopthis EA only moves it once.

Why Use Move Stop to Breakeven EA?

Risk management is one of the most important aspects of trading. Having a stop-loss will protect you from margin calls and big losses.

In many casesit is useful to have a trailing stopwhich is a "moving stop". A trailing stop is a stop-loss where the value is updated when the price moves in the favor of the trade.

There are many types of trailing stop — it can be a fixed step change or it can follow some indicator.

In the case of Move Stop to Breakeven expert advisorthe stop-loss is moved to a breakeven point once some fixed step is conquered by the price.

There are several advantages of using Move Stop to Breakeven EA for MetaTrader 4 and 5:

1. Filtering options to select which trades are managed.
2. It doesn't require human interaction.
3. Limit losses.
4. Notifications when the stop-loss is updated.
5. Additional points of profit.
6. Include commission and swaps to set breakeven.

Input parameters

This expert advisor supports the following input parameters to be configured by the trader:

• Points of distance from the open price — how many points should the price move for the EA to move the stop-loss to breakeven?
• Additional profit in points to add to BE — how many points of profit to add to the breakeven price when the EA moves the stop-loss?
• Adjust for swaps & commission? — the BE level will be adjusted based on the position's accrued swaps and commission.
• Apply to current symbol only — restrict Breakeven EA with current chart symbol? If falsethe EA will move stop-loss to breakeven on all symbols.
• Apply to — select which types of orders to apply a breakeven to.
• Filter by magic number — if truethe EA will modify only the orders with a specific magic number.
• Magic number — specify the magic number in case the above is true.
• Filter by comment — if truethe EA will modify only the orders with a specific comment.
• Comment — specify the comment if the above is true.
• Enable Breakeven EA — if truethe EA will start in active mode and will be tracking your trades immediately.
• Enable notifications feature — if truethe EA will send notifications upon triggering.
• Send alert notifications — if truethe EA will issue native on-screen alerts.
• Send notifications to mobile — if truethe EA will send push-notifications to your mobile device.
• Send notifications via email — if truethe EA will send emails when it updates a stop-loss.
• Show graphical panel — if truea graphical panel will appear on the chart to control the expert advisor.