Lesson 19: Close All Orders Function in MT4 on Request

The CloseOrder function in the context of trading on the MT4 or MT5 platform is a function used to close all currently open orders on a trading account. It is commonly used when you want to close all open orders of a specific currency pair or all orders on your entire trading account.

The process of performing a “Close All” usually involves the following steps:

1. Identify all open orders: Use functions such as OrderSelect() to loop through all open orders or positions on your account.
2. Close open orders: Use the OrderClose() function to close each open order or position. You may need to provide details such as volume, closing price, and the reason for closing the order.
3. Record and handle results: Check the result of each closing operation to ensure that the orders have been successfully closed and handle any errors that occur during the closing process.
4. Report the result: After closing all open orders, you may want to report the outcome, such as the total number of orders closed successfully or any issues encountered.

void CloseOrder(string type)
 {
   for(int i=OrdersTotal()-1 ; i>=0; i--)
    {
      if(OrderSelect(i,SELECT_BY_POS,MODE_TRADES))
      if(OrderSymbol()==_Symbol && OrderMagicNumber()==MagicNumber)
       {
        if(OrderType()==OP_BUY && type== "OP_BUY")
         {
          if(!OrderClose(OrderTicket(),OrderLots(),OrderClosePrice(),5,clrNONE))
            Print("Closed Order Buy Error ",GetLastError());
         }
       if(OrderType()==OP_SELL && type== "OP_SELL")
        {
         if(!OrderClose(OrderTicket(),OrderLots(),OrderClosePrice(),5,clrNONE))
          Print("Closed Order Sell Error ",GetLastError());
        }
     }
   }
}

The CloseOrder function is written to close open orders corresponding to the specified order type (OP_BUY or OP_SELL). Below is a description of each line of code:

1. Loop: The loop is used to iterate through all open orders on the trading account.
2. Check order: Each order is checked to determine whether it is a buy order (OP_BUY) or sell order (OP_SELL), and whether it belongs to the specified symbol and magic number.
3. Close order: If the order meets the above conditions, the OrderClose() function is called to close that order. Parameters include: order ticket number, volume to close, closing price, slippage, and trade color in the history tab.
4. Error handling: If the order closing fails, an error message will be printed to notify the user.

This function will close all open orders that match the specified order type, but it’s important to note that closing orders may cause financial loss if not done correctly, so make sure you clearly define which type of order you want to close before using this function.