e-Trailing2: Enhanced Trailing Stop Expert Advisor
Info
The e-Trailing2: Enhanced Trailing Stop Expert Advisor is a Expert Advisor for MetaTrader 4 that e-trailing2: enhanced trailing stop expert advisorthis is a new, improved version of the e-trailing expert advisor. It features an added Magic Number parameter for more flexible position selection and separate trailing stop parameters for buys and sells.
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-Trailing2: Enhanced Trailing Stop Expert Advisor
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
e-Trailing2: Enhanced Trailing Stop Expert AdvisorThis is a new, improved version of the e-Trailing Expert Advisor.
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: Viva Las Vegas Betting Strategies EA - another powerful expert for MetaTrader 4 traders.
e-Trailing2: Enhanced Trailing Stop Expert AdvisorThis is a new, improved version of the e-Trailing Expert Advisor.
Also recommended: Detect Friday of The First Week of The Month - To Detect NF P Day - similar expert with strong performance on MetaTrader 4.
It features an added Magic Number parameter for more flexible position selection and separate trailing stop parameters for buys and sells.The TrailingStart parameter now replaces ProfitTrailing. It allows setting the initial stop level, accepting both positive (break-even) and negative values. The EA can be attached to a single chart (AllSymbols=True) or multiple charts (AllSymbols=False).
Configurable Parameters:
AllSymbols
=True - Monitor positions across all symbols. If True, the EA tracks positions on all symbols. If False, it only monitors the current symbol.
Magic
=-1 - Position Identifier (Magic Number). If negative, the EA monitors positions with any Magic Number. Otherwise, it only tracks positions matching the specified Magic Number.
TrailingStart
=3 - Initial trailing stop level in points relative to the opening price. The stop will be set here once the price exceeds the TStop+TrailingStep level.
TStop.Buy
=50 - Trailing stop size in points for buy positions.
TStop.Sell
=35 - Trailing stop size in points for sell positions.
TrailingStep
=3 - Trailing step in points. This prevents excessive dealer requests.
ShowComment
=True - Display comments.
UseSound
=True - Use sound alerts for trade operation success or failure.
SoundSuccess
="expert.wav" - Sound file name for successful operations.
SoundError
="timeout.wav" - Sound file name for failed operations.
NumberOfTry
=2 - Number of trade attempts in case of errors.
You may also like: Wipeout - 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.