Free MT4 & MT5 Risk Management EA

Every open trade shows up in the panel with symbol, direction, and live profit. Quick-action buttons sit on the same row: close, break-even, risk-free, and three partial-close levels. Toggle the P/L view between dollars and percent of balance.

Two separate buttons on every open position. BE moves stop-loss to the entry price. RF moves it just past entry to lock in a small profit. Use them when price reaches a key level instead of clicking through the modify dialog every time.

Define three percentages — 50% / 25% / 10% by default — and close that fraction of any open position with a single click. Stepped exits at TP1, TP2, and TP3 without recalculating volume each time.

Switch between three sizing modes in one click: % of account balance, fixed dollar risk, or fixed lot. The expert reads tick value, point size, and stop distance live, then calculates the volume that matches your risk before the order is sent.

Click Buy or Sell and the expert draws your entry, SL, and TP lines on the chart. Drag any line to adjust the price level, then click Set to send the order. No more switching to the order ticket window in the middle of a trade.

Every executed trade flows automatically into a web dashboard that calculates win rate, R-multiple, profit factor, max drawdown, equity curve, and per-symbol / per-day / per-hour breakdowns. Stop guessing whether your edge is real, see it in numbers.

Most setups behave differently depending on the active session. Toggle the Sessions overlay and the expert highlights Tokyo, London, and New York hours directly on the chart, with a separate colour for each. You see at a glance whether your trade is firing during a high-volatility window or during the quiet handover. Combine with our economic calendar for context on which sessions carry high-impact events.

The Candle Timer shows you how many seconds remain until the current bar closes — directly on the chart, in any timeframe. Useful when you are waiting for a confirmation candle to close before pulling the trigger, instead of staring at price hoping you will catch the moment.

The expert captures the chart automatically at two moments that matter most: the moment your order opens, and the moment it closes. Both screenshots get attached to the trade in the dashboard. When you review a winning or losing trade days later, you see exactly what the chart looked like in real time — not what you reconstruct from memory.

The single biggest reason traders do not keep a journal is the work of writing one. The expert removes that step entirely. Every executed trade is sent to your BrokerSift dashboard with symbol, direction, entry, exit, lot size, profit/loss, gross/commission/swap breakdown, and timestamps — already filled in. You add notes and tags when you review. Read more on our free Trading Journal page.

Click Buy, drag your SL line, click Set. Three actions, one second — no order ticket, no mental math, no missed entries because you were calculating volume on a separate calculator.

Risk percentage, partial close levels, and order settings live in a dedicated Tools tab. Set them once and the chart stays clean for the rest of your session.

The MT5 and MT4 versions are both free to download. There are no in-app purchases or feature locks. One license activates up to five trading accounts so the same key covers your demo, live, and prop firm challenge accounts.

Risk per trade is enforced by the expert before the order is placed. If your stop-loss distance changes, the lot size auto-recalculates so you never accidentally over-leverage a setup.

Focus on execution instead of manual position-size calculations. ✓ Faster execution ✓ Cleaner workflow ✓ Automatic chart screenshots

Keep every trade within strict challenge risk limits automatically. ✓ Consistent 1% risk ✓ Drawdown monitoring ✓ R-multiple tracking

Manage demo, live, and prop accounts from one unified dashboard. ✓ Up to 5 terminals ✓ Centralized analytics ✓ Consolidated trade history

Turn trading patterns into measurable data and performance insights. ✓ Symbol breakdowns ✓ Day/hour analytics ✓ Hidden performance leaks

Market orders for instant execution. Pending orders (Buy Limit, Buy Stop, Sell Limit, Sell Stop) are auto-detected based on where you draw your entry line relative to current price. No need to pick the order type manually.

Choose risk in percent of balance, in dollars, or as a fixed lot. The expert recalculates volume every time you move the SL line so the dollar risk stays exactly where you set it — even when spread widens or you change pairs mid-session.

Take profit in stages instead of one shot. Hit 50% to close half at the first target, 25% at the second, 10% at the third — then run the remainder with stop-loss already at break-even.

Drag the entry, SL, and TP lines until they match your plan. The expert shows live distance in points and live dollar risk on each label, so you can see the trade math before you commit by clicking Set.

Pick MT4 or MT5 from the download section above. Save the .ex4 or .ex5 file to your computer.

Open MetaTrader, go to File → Open Data Folder → MQL5 (or MQL4) → Experts. Drop the file inside, then restart MetaTrader.

Drag the expert onto any chart. In the Inputs tab, paste your license key. Enable AutoTrading in the toolbar. The license server confirms within a second and the trade panel becomes active.

Click Buy or Sell, drag the SL and TP lines, click Set. The trade lands in your journal dashboard within 60 seconds, complete with the entry chart screenshot.

A practical walk-through: pick a setup on EURUSD, decide where the stop-loss invalidates the idea, and let the expert size the position correctly for your risk percentage.

How to read the BrokerSift economic calendar, plan around high-impact events, and use the expert's drag-line entry to react when the move actually happens.

The two buttons look similar but solve different problems. Break-even removes the trade's loss potential. Risk-free locks in profit. Pick the right one based on what price has actually done since you entered.

Win rate is half the story. Profit factor, R-multiple, and max drawdown finish it. Walk through your performance dashboard and learn which metrics to act on and which to ignore.