MetaTrader 5 Trading Scripts
Streamline your trading workflow with powerful one-time execution scripts. Automate routine tasks, manage positions efficiently, and enhance your trading operations.
Expert Advisors (Robots)
Automated trading systems that execute trades based on predefined strategies
Custom Indicators
Technical analysis tools for market analysis and signal generation
Trading Scripts
One-time execution tools for specific trading tasks and utilities
Understanding Trading Scripts
What are Trading Scripts?
Scripts are programs that execute once when launched, performing specific tasks like closing all positions, setting stop losses, or calculating position sizes. Unlike Expert Advisors, they don't run continuously and are perfect for one-time operations.
Using Scripts Effectively
- 1Install script in MT5/MQL5/Scripts folder
- 2Double-click script in Navigator panel
- 3Configure input parameters if needed
- 4Click OK to execute the script
- 5Check Experts tab for execution results
Script Safety Tips
- • Understand what the script does before running
- • Be cautious with position-closing scripts
- • Monitor errors in Experts Tab
Script vs EA vs Indicator
Common Script Categories
Position Management
- • Close all open positions
- • Close profitable trades only
- • Close losing trades only
- • Partial position closing
- • Move stops to break-even
- • Trailing stop implementation
Order Management
- • Delete all pending orders
- • Modify stop loss levels
- • Modify take profit levels
- • Cancel specific order types
- • Batch order modifications
- • Order expiration management
Risk Management
- • Position size calculator
- • Risk assessment tools
- • Margin requirement calculator
- • Profit/loss calculator
- • Risk-reward ratio analysis
- • Portfolio risk evaluation
Account Protection
- • Equity protection scripts
- • Daily loss limit enforcement
- • Drawdown alerts
- • Account balance monitoring
- • Emergency position closure
- • Trading time restrictions
Analysis Tools
- • Trade history analysis
- • Profit/loss reports
- • Performance statistics
- • Win rate calculations
- • Average trade duration
- • Monthly/weekly summaries
Utility Scripts
- • Chart screenshot capture
- • Symbol information display
- • Market hours calculator
- • Currency converter
- • Spread monitoring
- • Server time display
Practical Script Examples
Emergency Close All Positions
A critical script that immediately closes all open positions. Useful during high-impact news events or when you need to exit the market quickly.
Position Size Calculator
Calculates optimal position size based on account balance, risk percentage, and stop loss distance. Essential for proper risk management.
Break-Even Script
Automatically moves stop loss to break-even point when trades reach a specified profit level. Protects against losses while allowing for further gains.
Daily P&L Report
Generates comprehensive daily trading reports including win rate, average profit/loss, and performance metrics.
Script Development and Usage Best Practices
Development Guidelines
- • Keep scripts simple and focused on one task
- • Include proper error handling and validation
- • Add user confirmations for destructive actions
- • Provide clear feedback on execution results
- • Test thoroughly on demo accounts
- • Document script functionality and parameters
Common Pitfalls
- • Not adding required "WebRequest" endpoints
- • Not turning on "Algo Trading"
- • Not turning on "Allow Algo Trading" within Common tab
Usage Best Practices
- • Create a script library for frequently used tasks
- • Use keyboard shortcuts for quick script access
- • Schedule scripts for routine maintenance tasks
- • Keep scripts updated with platform changes
- • Monitor script performance and effectiveness
- • Share useful scripts with trading community
Security Considerations
- • Only use scripts from trusted sources
