Expert Advisor for Order Management and Trailing
Info
The Expert Advisor for Order Management and Trailing is a Expert Advisor for MetaTrader 4 that this expert advisor (ea) is designed to manage and support open orders. The EA allows for filtering orders based on several criteria:- Magic Number (mg): Set to '0' for manually opened orders, or a positive integer for orders opened by a specific EA.
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 Expert Advisor for Order Management and Trailing
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
This Expert Advisor (EA) is designed to manage and support open orders.
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: e-trailing2: enhanced trailing stop expert advisor - another powerful expert for MetaTrader 4 traders.
This Expert Advisor (EA) is designed to manage and support open orders.Also recommended: e-signal of trade expert advisor - similar expert with strong performance on MetaTrader 4.
The EA allows for filtering orders based on several criteria:
- Magic Number (mg): Set to '0' for manually opened orders, or a positive integer for orders opened by a specific EA.
- Symbol List (list_symbols): Specify a comma-separated list of symbols (e.g., "EURUSD,GBPUSD") for the EA to manage. Leave blank to manage all symbols.
- Only Current Symbol (onlycurrentsymbol): Set to 'false' to allow the EA to manage orders across multiple symbols if a symbol list is provided.
Further customization includes defining the 'dimension' for order management:
- Value in Currency (valueincurrency): Apply operations based on a specific currency value, deposit currency value, or a percentage of the deposit.
The EA offers the following key functionalities:
Trailing Profit Enable (trailprofit_on): Activate trailing stop functionality for overall profit.
Take Profit Enable (takeprofit_on): Activate take profit for overall profit.
Stop Loss Enable (stoploss_on): Activate stop loss for overall profit.
Partial Close Enable (partclose_on): Activate partial closure of orders.
Number of Trailing Stops (n_trailing): Configure trailing stop levels from 0 to 11. This applies only to orders of the current symbol.
Important Note: If trailing profit is enabled and the total profit for selected orders exceeds the trailing threshold, partial closure will be executed, and the 'personal' trailing stop functionality will not be applied.
You may also like: e-news-lucky$ - automated news trading expert advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
extern string setup_expert = "========== ==========";
extern int mg = 880; // : > 0 - , 0 - , > 0 -
extern datetime timecontrol = d'2010.01.01 00:00'; //
extern int newbarinperiod = -1; // <= 0 - , -1 -
extern bool valueincurrency = false; //
extern bool onlycurrentsymbol = true; // list_symbols
extern string list_symbols = "eurusd,gbpusd,audusd,nzdusd,eurgbp"; //
extern int slippage = 3; // .......
⚠ 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.