Code Library / Risk Management

Break Even Stop Loss

Move SL to break even once in profit.

Language: MQL4 · Category: Risk Management · Tags: break even, stop loss, MQL4

Source code

void BreakEven(int ticket, double pips) {
   if(!OrderSelect(ticket,SELECT_BY_TICKET)) return;
   double pt = MarketInfo(OrderSymbol(),MODE_POINT);
   if(OrderType()==OP_BUY && Bid-OrderOpenPrice()>=pips*pt)
      if(OrderStopLoss()<OrderOpenPrice())
         OrderModify(ticket,OrderOpenPrice(),OrderOpenPrice(),OrderTakeProfit(),0);
}

How to use this snippet

This is a building block, not a finished trading system. Paste it into your own MQL4 project, compile it, and test it on a demo account with your broker's real spreads before relying on it. If MetaEditor reports errors, the compilation error fixer can help.

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