Every trader knows that closing a trade is too important because it can lead to diverse damage. There are many indicators designed for entering a trade but what about exit or close a trade, this is the point where profit and loss exist. There are two known ways for one is after you get a huge gain or other a huge loss.
But in this article, we will learn about MQL4 Close All Orders that is known as closing button.
What is MQL4 Close All Orders?
MQL4 Close All Orders is system that is developed to close all trades at once. It is very simple and easy tool that close trade at one click when market moves against you. It is very useful for multitaskers that trade multiple currencies at same time. It is best tool used in volatile and diverse in nature.
Benefits of MQL4 Close All Orders
MQL4 Close All Orders helps to prevent big losses and helps to develop automated system for stop to place. It gives relax trading environment and built confidence in trade. Traders become more professional in trades because it reduces risk rate. it has built in option to develop your own style script. It helps to close individual and multiple stop order. It is an automated setup work on pre-set measures to stop.
Close All Trades in Profit
Scripts available for MQL4 Close All Orders:
Script 1: Close all script if you drop on pair window that will close all pending orders of that pair, else it will close all trades. Close all trades.
Script 2: Close only buy trades script for trades. Close BUY trades.
Script 3: Close only sell trades script for trades. Close SELL Trades.
Script 4: Close all awaiting action trades script. Close awaiting action Trades.
Reasons to close trades with MQL4 Close All Orders:
- A condition where you have gained a huge profit and want to exit trade.
- A global event that has direct impact on forex market and price is fluctuating and you want to exit trade before you fall for loss.
- A condition where price is about to move in opposite direction of yours.
- A condition where you can’t estimate what is market up to and want to close trade to prevent loss.
- When you want to exit multiple trading strategies.
Download Close All Orders for MT4 (MQL4) free
MQL4 Close All Orders is very helpful and useful tool. It does not require too much effort but one click.
Entering a trade can be easy but when you want to exit you must consider the need of MQL4 Close All Orders and it helps to close all trades at once so you can trade multiple. Timely action help to minimize loss and increase your confidence. MQL4 Close All Orders have just one agenda to close trades so it must be combined with other tools or strategies. It has ability to stop immediately but, in some cases, it was reported that it delayed or cease. It requires long term practice to understand its settings and interface.