MQL4 Close All Orders – Why You Must Have One
Important notice: Please use SCRIPTS instead of Expert advisors when you want to close all orders. Close all EA is not a good idea. A better idea is to use Close all scripts. Download below…
Most traders start with a basic strategy. In most cases, a basic strategy would entail entering one position. As one increases his or her trading knowledge, skill, and experience, it is normal for a trader to enter multiple positions for a variety of reasons. Closing a single trade is effortless. However, if you have multiple positions, then closing them can be a time-consuming task. And, time is something you don’t want to waste when prices are moving in fractions of a second.
MT4 close all button or “panic button” is the button on MT4 chart based on MQL4 script (MT4 script) which can close all positions with the push of a button.
In this article you can see 4 MQL4 scripts and free download.
This is where a “panic button” becomes very useful. In this case, the panic button is termed as MQL4 Close All Orders. In this article, you’ll learn more about Close All Orders, and why you must have one.
MQL4 Close All Orders – What Is It?
An MQL4 Close All Orders is a simple script that once you run it, it will close all your positions immediately. It’s a simple tool, but its usefulness is essential, especially if you are running multiple positions.
Let’s take one example. You’re running five positions at once. Then, for some reason, the price suddenly became volatile, and its behaving erratically and beyond the confines of your expectation. Most professionals will tell you that when you have entirely no idea what the price is doing, it is better to get out. Since you are a smart trader, you follow the advice.
You click your every position and hit close. However, on the third position that you are about to close, the price suddenly spikes out of nowhere. Then in a fraction of a second, you are miles away from the price point you want to close your positions. It’s good if the price spiked into your favor. But what if it didn’t? Are you willing to take that chance that it will always go your way? Are you willing to base your strategy based on luck? If you are a smart trader, then your answer should be a big “NO.”
Alternatively, you can use an MQL4 Close All Orders. In one click of a button, all of your positions get closed. The chances of price running away from you become very slim. There are also other instances that you’d want to have this “panic button” at all times.
It could be that there’s unexpected news that is coming out, and you don’t want to take the risk if the price goes with or against you. You just run the script, and you’re good.
Another instance is when you are trying to execute a multiple profit-taking strategy. During normal price behavior, you plan to exit manually, depending on what triggers you may have. However, the price suddenly spiked in your favor and you know that if you execute your usual profit-taking strategy, you will be leaving money on the table. Hence, hit that Close All Orders script and secure all the profits of your positions almost instantly.
Download Close ALL MT4 indicator
Script 1 :
Close all script if you drop on pair window will close all pending orders of that pair, else will close all.
Install this script in SCRIPT directory : Close All positions
Script 2 :
Close only buy trades script.
Close BUY trades
Script 3 :
Close only sell trades script.
Close SELL Trades
Script 4 :
Close all pending trades script.
Close Pending Trades
Conclusion
At the very least, MQL4 Close All Orders makes it convenient for you to close all of your positions in a single click of a button or certain trigger. At the worst case, it can be your “panic button.” And when it comes to panic buttons, it’s better to have one when you need it versus needing it, and you don’t have one.
