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🔃 Last Updated on April 26, 2024
CloseIfProfitorLoss (CLP)-Closing positions in MetaTrader when the total profit/loss is reached, with the profit trailing function.
Virtual stops can be enabled as a separate order, and calculations and closing can be done separately for BUY and SELL positions.
The Utility CloseIfProfitorLoss (CLP) is an advanced feature in MetaTrader that allows traders to automatically close their positions when the total profit or loss reaches a certain level.
Additionally, this feature comes with a profit trailing function, which enables traders to set virtual trailing stops and take profits.
Essentially, this means that the trader can set the system to automatically close their position at a specific level of profit or loss without having to monitor the trade constantly.
This feature can be a valuable tool for traders who want to manage their risk more effectively and optimize their trading strategies.