e-Moving In WL2: Automated Stop Loss Adjustment
Info
The e-Moving In WL2: Automated Stop Loss Adjustment is a Expert Advisor for MetaTrader 4 that automated stop loss adjustment for open positionsthe expert advisor is designed to move the stop loss of open positions to breakeven once they reach a specified profit level. The primary distinction of the e-MovingInWL2 Expert Advisor compared to e-MovingInWL is the inclusion of two additional parameters: AllSymbols and Magic.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use e-Moving In WL2: Automated Stop Loss Adjustment
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
Automated Stop Loss Adjustment for Open PositionsThe Expert Advisor is designed to move the stop loss of open positions to breakeven once they reach a specified profit level.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: Visual Trader Simulator Edition - another powerful expert for MetaTrader 4 traders.
Automated Stop Loss Adjustment for Open PositionsThe Expert Advisor is designed to move the stop loss of open positions to breakeven once they reach a specified profit level.
Also recommended: Awesome Oscillator Trader 2 - Continuation of modification - similar expert with strong performance on MetaTrader 4.
The primary distinction of the e-MovingInWL2 Expert Advisor compared to e-MovingInWL is the inclusion of two additional parameters: AllSymbols and Magic. These parameters offer more flexible selection of monitored positions.
The e-MovingInWL2 Expert Advisor can be installed on a single chart (AllSymbols=True) or multiple charts (AllSymbols=False). The moment the stop loss is moved to breakeven can be announced audibly (UseSound=True).
The Expert Advisor offers the following configurable parameters:
AllSymbols=True - Monitor positions across all symbols. If True, the Expert Advisor will track positions for all symbols. If False, it will only monitor positions for the current symbol.
Magic=-1 - Position identifier, MagicNumber. If less than zero, the Expert Advisor will track positions with any MagicNumber. Otherwise, it will only track those whose MagicNumber matches the specified value.
LevelProfit=25 - The profit level in points that a position must reach for its stop loss to be moved to breakeven.
LevelWLoss=1 - The breakeven level in points to which the position's stop loss will be moved after its profit reaches the LevelProfit in points.
ShowComment=True - Display comments.
UseSound=True - Use an audible alert for trade operation success or failure.
SoundSuccess="expert.wav" - Name of the success sound file.
SoundError="timeout.wav" - Name of the error sound file.
NumberOfTry=2 - Number of trade attempts in case of errors.
You may also like: Profit Loss Trail EA - excellent alternative for expert users on MetaTrader 4.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.