Understanding Stop Loss and Take Profit in MetaTrader 5

When trading, managing your risk is crucial, and that's where Stop Loss and Take Profit come into play. If your trade gets closed by a Stop Loss, the volume will double. On the flip side, if it’s closed by a Take Profit, the minimum volume is applied. You can use the OnTradeTransaction function to check whether your trade was closed due to Stop Loss or Take Profit activation.

In the latest updates, the ENUM_DEAL_REASON enumeration was introduced in build 1625. Here’s a quick look at the key deal reasons:

You can easily verify this in the OnTradeTransaction function. Essentially, it provides a straightforward and reliable way to identify whether a trade resulted from a Take Profit or Stop Loss.

As of build 1626, this Expert Advisor can only be tested live. You can do this by running it on a chart or in debug mode using real data (simply hit F5 in the MetaEditor). Here’s a handy code snippet to determine if it was a Take Profit or Stop Loss that triggered your trade:

      if(deal_symbol==m_symbol.Name() && deal_magic==m_magic)
         if(deal_entry==DEAL_ENTRY_OUT)
           {
            if(deal_reason==DEAL_REASON_SL)
               ExtLot*=2.0;
            else if(deal_reason==DEAL_REASON_TP)
               ExtLot=m_symbol.LotsMin();
           }

Keep this in mind as you navigate through your trades. Understanding these key elements can significantly enhance your trading strategy!