Free MT4 Scripts, MT4/MT5 Scripts

Set Fixed SL and TP Script for MT4

The Set Fixed SL and TP Script is a powerful tool designed for Forex traders to manage their risk and potential profit targets with ease.

This script, available for the MetaTrader 4 (MT4) platform, allows traders to set predetermined stop-loss (SL) and take-profit (TP) levels for their trades.

It provides efficiency and accuracy in trade management, saving valuable time and reducing the risk of human error.

With the Set Fixed SL and TP Script, traders can customize their SL and TP levels based on their trading strategy and risk tolerance.

The script will automatically apply the predefined levels to the trades, ensuring that risk is controlled and potential profits are protected.

How Does Set Fixed SL and TP Script Work?

Set Fixed SL and TP Script

The Set Fixed SL and TP Script is a convenient tool for Forex traders to automate the process of setting predetermined stop-loss (SL) and take-profit (TP) levels.

When applied, traders can customize the SL and TP levels based on their trading strategy and risk management preferences.

The script continuously monitors the trade and ensures that the specified levels are maintained.

If the trade reaches the predetermined TP level, the script will automatically close the trade to secure profits.

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How to Use Set Fixed SL and TP Script?

To use the Set Fixed SL and TP Script, follow these steps:

  • Install the script: Download the script file from the provided link and save it on your computer. Open the MT4 platform and go to “File” > “Open Data Folder.” Open the “MQL4” folder, then the “Scripts” folder. Copy the script file into the “Scripts” folder.
  • Apply the script to a trade: Drag and drop the script onto the chart of the desired currency pair or instrument. A settings window will appear.
  • Set SL and TP levels: In the settings window, specify the desired fixed stop-loss (SL) and take-profit (TP) levels. You can enter these values in pips or choose a specific price level.

I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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