Show Visible Pairs #

When opening the MT4 EM App, set the Visible Pairs box to show active orders within the main window. Do this via a right-click > Visible Pairs and checking the Open Positions box as shown below. This setting will make it easier to view MT4 EM-managed orders.

MT4 Exit Manager - Show Visible Pairs

If you prefer to show only specific pairs, uncheck the Open Positions box and add/remove the desired pairs to show in the main window. Keep in mind, though, that doing so will not display all active positions.

Strategy Creation – The Dynamic Money Manager #

The primary functionality of MT4 EM is within the Dynamicy Money Manager (DMM). Open the DMM by right-clicking within the main window, selecting Strategy, or via the Main Toolbar > Strategy > New menu item.

MT4 Exit Strategy Functions

The DMM provides automated exit functions such as; double reverse, half-reverse, reverse, double, triple, half, stop and reverse, and more. Additional features include; restarting, alerts, timed Trading, direction allocation, and sophisticated money management, all within a user-friendly interface.

Functions #

First, create a strategy click a function in the lower-left section to activate it, then place it in the top grid section by clicking an empty cell. Stack functions up to seven levels deep within each grid.

MetaTrader Exit Function List

  1. Clear – removes the function.
  2. Close – closes a trade.
  3. Reverse – changes the direction of a position.
  4. Double-Reverse – increases position size by 100% and changes its direction.
  5. Half-Reverse – decreases position size by 50% and changes its direction.
  6. Half – reduces a position’s size by 50%.
  7. Doubles the position size.
  8. Triples the position size
  9. Quadruples the position size.
  10. Trailing Stop

Risk Management #

The DMM contains various parameters for Risk Management as they pertain to the enabled Strategy. Check the Strategy is Enabled box and then set the parameters to be applied once the Strategy is enabled.

MT4 Risk Management

  • Max Used Margin % – the percent of margin that will be available for all positions. Once exceeded, additional trades are prohibited.
  • Max Floating P/L % – allows Trading while the parameter of open positions P/L remains lower than the set amount.
  • Max Pip Value – the maximum allowable pip value of a position. When exceeded, additional trades are prohibited.
  • Close All when P/L % > – all trades are closed when the P/L greater than the specified percent.
  • Close All when P/L % < – all trades are closed when the P/L is less than the specified percent.
  • Don’t Trade if Spread > the specified amount in pips.
  • Cell size, pips – sets the main grid cell size.
  • Break Even (+) – moves the take profit level to the desire pips beyond the break-even point.

DMM – Functions Tab #

The Grid Display or cell size in the example above has a value of 15 pips. Therefore, when the profit/loss (P/L) for a pair moves to -15 pips, the double reverse function will trigger, then when it reaches -15 pips once more, the position will triple and son. On the positive side, when the P/L reaches 120 pips, the position will close. Adjust the grid size using the Cell-sized pips box in the lower right corner.

MT4 Exit Strategy Functions

Change the Grid Size initially or during a Strategy—the Grid Size updates in real-time within the Main Window of the MT4 EM Application.

DMM – Restarting Trades Tab #

The Restarting feature creates new positions once they have been closed by ty the X function. Open the DMM window and chose the Restarting Tab.

MT4 Exit Manager Auto Restart Entry

Parameters available are directions to restart after a winning position is closed, a losing position is closed, and the number of times to restart. Additionally, the entire Strategy resumes by checking the Apply after the “Close all when…” triggers” box.

The restarting feature is helpful for short-term Trading where the take profit level is relatively close to the break-even point. Thus, allowing the ability to lock in profits while reentering for another opportunity. These methods and are the makings of an excellent risk management system.

DMM – Alerts Tab #

Set visual and audio alerts within the Alerts tab. To place an alert, click the desired grid box. To remove an alert, click the desired grid once more. Use the Alert Settings button to access the type and frequency of alerts.

DMM Alerts Tab DMM Alerts 


DMM – Timed Trades Tab #

Trades may be placed manually or automatically both within the MT EM interface or initiated by MetaTrader 4. Open the DMM window in the MT4 EM Application and then select the Timed Trades Tab.

Listed currency pairs that are in the connected MetaTrader 4 instance become available in this tab. Select the desired currency pair from the drop-down menu in the upper left and then click the Add button. Buy or Sell directions, as well as lot size or pip value parameters, are available. A lot size of 0.01 is 1,000 units, while pip values round to standard notation.

Input the desired time to start trades using the fields in the upper right corner and check the Open Positions at, box. To record statistics, check the Start Recording box in the top middle of the Timed Trades Window. You can then view these statistics once the Strategy is closed within the reporting tabs at the bottom of the main application window.

Manual Trading #

Trades may also be placed by right-clicking the active grid in the main application window and selecting New Market Order. Alternatively, place a manual trade using the Trade Menu > New Market Order sequence from the main toolbar.

New Market Order

Trading within the MT4 EM Application is streamlined while leaving more options to MetaTrader initiated and Timed Trades.

There are, however, a few additional features available for manual trading by selecting Trading > New Market Order from the main toolbar.

New Custom Market Order


Manually Close Trades #

Close Trades in the MT4 EM App via the X function in the left column or via the X in the right of the Trades Tab. 

MT4 Exit Close Trades


MetaTrader 4 Initiated Trades #

Trades initiated using MetaTrader 4 either manually or via Expert Advisors and Scripts are also managed when the MT4 EM is actively connected. Once the PipeServer Script is attached to an MT4 chart and the MT4 EM App runs, trades become automatically associated with no other actions necessary.

MetaTrader 4

Equity and Allocation Gauges #

Located on the left side of the main window are Used Margin and Floating P/L gauges. Double click each gauge to set alerts.

Equity Gauges

The bottom of the main window displays individual currency allocation gauges. These gauges represent the percent of a currency among the active positions.

Allocation Gauges

Set a global alert by clicking the bell icon in the upper right corner of the allocation gauges. Edit specific alerts by clicking the desired currency gauge.

Break-Even (+) #

When a double reverse adjusts a position, reverse, or other function, a Break-Even value appears as a blue line in the grid.

Break Even Marker

The Break-Even marker helps analyze exit levels and free up needed margin for future function triggers while ensuring to lock in profits at safe levels.

When used margin or pip values are high, the Break-Even feature can guide you to positions that may better serve the overall Strategy if they were to be closed.

When the Break-Even (+) feature is applied the take profit level moves the desired pips beyond the Break-Even mark to ensure a positive profit. 

P/L Graph #

A helpful tool to get a quick overview of the current P/L or Equity status is the Balance Graph accessible via the Trading > Balance Graph menu item from the main toolbar. Right-click within the graph to select from various options such as:

  • Balance& Equity – displays equity P/L data in dollar amount.
  • Percentage – displays equity P/L data as a percentage.
  • Auto-Scroll – adjusts the chart to keep it in full view during real-time updates. Equity Alerts – adds an alert to the graph.

Profit - Loss Graph


  • Gold Line – Floating P/L
  • Grey Line – Equity
  • Blue Line – Relative Balance

Scroll over the chart to see a popup of the above values.

Right-click the graph to add alerts. Alerts may be dragged up/down the chart to their desired positions. Right-click the alerts to display additional options.

Reporting Windows #

The bottom of the application contains MT4 Exit Manager’s reporting windows.

Reporting Window

Trades – lists the active trades managed by the MT4 EM Application

Recordings Tab

Recordings – contains recorded Strategy Statistics.

Recordings Tab

Double or right-click a recording in the Recordings Tab to open a recording.

Strategy Recording

The top left section contains parameters set in the Strategy.

The top right section includes additional Strategy information such as ROI% (Return on Investment and NSF (non-sufficient funds). NSF – the number of times when there were not enough funds to carry out a Strategy function.

Click the Export button to create a .csv file for use in Excel or a similar application for further analysis.

A careful review of the Strategy recording statistics can help plan function placements for your overall Strategy and, more importantly, individual currency pairs. For example, if there is a consistently losing pair, investigate further; perhaps the daily trading average will hint at where to place the close function.

Furthermore, if your Strategy reports too many NSF’s, you are most likely overtrading your account. In this case, trade fewer pairs if they are all profitable and decrease the starting size for each pair in your Strategy. These and other tips can significantly enhance the success of your trading.

Activity – reports strategy activity such as new positions with associated P/L, restarting, and more.

Activities Tab

Journal – lists subscription status (first entry on each run), connections, new trade information, and more.

Journal Tab


MT4 EM Data Folder #

Locate the Data Folder via the File > Open Data Folder menu item.

MT4 EM Data Folder

The Data Folder contains valuable information such as logs for individual review and to send to support staff for assistance.

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