Auto TP Multiplied By SL EA Source Code MQ4 for MetaTrader 4 (MT4) is an Expert Advisor (EA) designed to automatically set a Take Profit (TP) level that is a multiple of the Stop Loss (SL). This type of EA automates risk management by ensuring that the reward-to-risk ratio remains consistent for each trade, according to a predetermined factor.

Key Features of the “Auto TP Multiplied by SL EA”:

1. Auto TP Calculation:
   • The EA automatically sets the Take Profit (TP) level based on a multiple of the Stop Loss (SL) distance. For example, if your SL is set to 50 pips and the multiplier is set to 2, the TP would automatically be set to 100 pips.
2. Risk-to-Reward Ratio:
   • This setup helps to ensure that your trades follow a specific Risk-to-Reward Ratio (R/R). The most common ratios are 1:2, 1:3, or 1:5, meaning for every unit of risk (SL), your potential reward (TP) is 2, 3, or 5 units respectively.
3. Customizable Parameters:
   • SL and TP: You can adjust how the EA sets SL and TP. The EA can either use a fixed SL/TP or adjust them based on a multiple.
   • Multiplier: The core functionality is the Multiplier that determines how many times the SL distance is used to calculate the TP.
   • Lot Size: Many EAs allow you to customize the trade size (lot size) or set it according to risk management settings.
4. Automatic Trade Management:
   • Once the trade is opened, the EA automatically adjusts the TP based on the SL and multiplier, removing the need for manual intervention.
   • The EA may also allow trailing stop functionality or stop-loss adjustment after the trade is in profit.

Example:

• Stop Loss (SL): 50 pips
• Multiplier: 3
• Take Profit (TP): 50 pips * 3 = 150 pips

In this example, when the EA opens a trade, it will place a stop loss of 50 pips and a take profit of 150 pips, ensuring a Risk-to-Reward Ratio of 1:3.

Conclusion:

The Auto TP Multiplied by SL EA is a useful tool for traders who want to maintain a consistent risk-to-reward ratio in their trades. By automating the process of setting Take Profit levels based on a multiple of Stop Loss, it helps remove the manual effort required to adjust these levels for each trade.

Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.

What’s in the package?

Experts:

• Auto TP Multiplied By SL EA Source Code MQ4.mq4

Important Notes: Only MQ4 ( Indicators not included)

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