Free MT4 Equity Management EA Created with ChatGPT – Secure Profits & Boost Earnings

Creating an EA to Secure Account Balance While Increasing Profits After Achieving Target Earnings
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Creating an EA to Secure Account Balance While Increasing Profits After Achieving Target Earnings

We asked ChatGPT (GPTs) to create a handy tool (Expert Advisor – EA) to assist traders. This EA is designed to help secure your account balance while aiming for additional profits after reaching your target earnings.

When you’ve hit your profit goal but want to continue trading without risking your account balance, this EA automatically closes all open positions if your equity drops below a specified threshold.

Note: Even with EAs (software), sudden market volatility can lead to unexpected outcomes. Always proceed with caution, although EAs tend to be more reliable than manual trading.

GPT Used: EA Creator

Request Details and Execution Results

This time, ChatGPT provided an EA that can be used almost as-is.

Request Details

Please create a new EA with the following specifications:

# Parameters

Target Balance = 0

Secure Balance = 0
(Feel free to add any other necessary parameters.)

# Specifications

Once all positions are closed, the EA resets and “forgets” that the Target Balance was exceeded. It will not trigger again until the equity surpasses the Target Balance once more.

After the equity exceeds the “Target Balance,” if it drops below the “Secure Balance,” the EA will force-close all open positions.

ChatGPT Output Result

The following MQL4 code was generated based on the above specifications. This EA force-closes all positions under specified conditions.
//+------------------------------------------------------------------+
//|                                         EA_EquityManager         |
//|                                             Copyright 2024, SeSe |
//|                                     https://fx-trading-gym.info/ |
//+------------------------------------------------------------------+
#property copyright "Copyright 2024, SeSe"
#property link      "https://fx-trading-gym.info/"
#property version   "1.00"
#property strict

input double TargetBalance = 0; // Target Balance
input double SecureBalance = 0; // Secure Balance

bool targetExceeded = false;

int OnInit() {
   return(INIT_SUCCEEDED);
}

void OnDeinit(const int reason) {}

void OnTick() {
   double equity = AccountEquity();

   if (equity > TargetBalance) {
      targetExceeded = true;
   }

   if (targetExceeded && equity < SecureBalance) {
      CloseAllPositions();
      targetExceeded = false;
   }
}

void CloseAllPositions() {
   for (int i = OrdersTotal() - 1; i >= 0; i--) {
      if (OrderSelect(i, SELECT_BY_POS)) {
         if (OrderType() == OP_BUY || OrderType() == OP_SELL) {
            if (!OrderClose(OrderTicket(), OrderLots(), OrderClosePrice(), 3, clrRed)) {
               Print("Failed to close order: ", OrderTicket(), " Error: ", GetLastError());
            }
         }
      }
   }
}
Explanation

Parameters:

TargetBalance: The equity level you aim to exceed.

SecureBalance: The minimum equity level you want to maintain.

Initialization (OnInit): No special initialization required.

Tick Event (OnTick):

Checks the current equity (AccountEquity).

If the equity exceeds the TargetBalance, it sets the targetExceeded flag to true.

If the equity falls below the SecureBalance after exceeding the TargetBalance, it closes all positions and resets the flag.

CloseAllPositions Function:

Closes all open positions and logs errors if any occur.

Download

You can download the created EA below. While basic functionality has been tested, we cannot compensate for any losses incurred from its use. Please use it at your own risk and verify its operation thoroughly.

Click : MT4 Equity Management EA

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