Trade smarter: 3 scripts that change the game!
Scripts are small programs for MetaTrader 5 designed to perform a specific action — like partially closing trades, reversing positions, or automatically calculating SL and TP levels.
They don’t run on every tick or follow the chart. Instead, they execute only when launched — making them perfect for automating everyday trading actions. Best of all, scripts eliminate human error: no typos in pending orders, no missed inputs, just precise and instant execution.
Use promo code OIL202 when depositing $202 or more to receive a 202% drawdown bonus. New clients also receive a +15% welcome bonus on their first deposit from $100 — a strong head start!
Here are 3 incredibly useful scripts for MetaTrader 5:
1. Partial Close Buy Orders
The Partial Close Buy Orders script gives you flexibility in managing open Buy positions by allowing you to take partial profits. It’s a powerful tool for gradually exiting trades, minimizing risk, and locking in gains.
How it helps your trading:
• Lock in profits during uncertainty: If the price moves in your favor but you anticipate a pullback or market hesitation, you can close part of your position to secure gains.
• Reduce exposure: By closing a portion of your trade, you decrease the size of your open position, lowering potential losses if the market turns against you.
• Optimize exits: You can scale out of trades at different take-profit levels to make the most of price movements.
2. Auto SL/TP by Risk:Reward
The Auto SL/TP by Risk:Reward script automatically sets Stop Loss (SL) and Take Profit (TP) based on your predefined Risk:Reward ratio. It’s an essential tool for structured trading and smart capital management.
How it helps your trading:
• Consistent risk control: Always know your risk relative to your potential gain. For example, a 1:2 ratio means you’re aiming to earn $2 for every $1 you risk.
• Improve long-term profitability: Even with a lower win rate, applying a consistent Risk:Reward strategy can lead to net profits over time.
• Faster trade execution: Once in a trade, no need to manually calculate or set SL/TP — the script does it for you instantly.
3. Basket Closer Profit/Loss
Basket Closer Profit/Loss is your emergency stop for total account risk control. This script automatically closes all open trades (both winning and losing) when your account reaches a predefined profit or loss threshold.
How it helps your trading:
• Limit daily/weekly/monthly losses: Set a maximum drawdown you’re willing to accept. When this level is reached, the script closes all trades to protect your capital.
• Secure profits: If you’ve hit a target profit for your session, the script can close all trades to lock it in and avoid giving it back on a reversal.
• Portfolio-level control: Instead of managing each trade individually, you monitor the total P&L across all positions and act accordingly.
These scripts are completely free and ready to download: Partial Close Buy Orders, Auto SL/TP by Risk:Reward, Basket Closer Profit/Loss
To install:
1. Download the script(s)
2. Open your terminal, go to File → Open Data Folder
3. Navigate to Scripts, paste the files inside
4. Restart the terminal, drag the script onto the chart — done!
And don’t forget: Use promo code OIL202 with a deposit of $202 or more to get a 202% bonus for drawdown coverage! New to the platform? Get a 15% welcome bonus with your first deposit from $100!
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