expert advisor template with trailing stop
Info
The expert advisor template with trailing stop is a Expert Advisor for MetaTrader 4 that this is a template for expert advisor coders to decrease their coding time. it contains trailing stop, autolots (true or false) and function scanning previous candles to find the lowest and the highest order price in the past.
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 template with trailing stop
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 is a template for expert advisor coders to decrease their coding time.
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 is a template for expert advisor coders to decrease their coding time. it contains trailing stop, autolots (true or false) and function scanning previous candles to find the lowest and the highest order price in the past. ready to use buy, buystop, sell, sellstop scripts.
Also recommended: e-signal of trade expert advisor - similar expert with strong performance on MetaTrader 4.
there is a lot more innovations to make it work better like buy, sell block or max orders opened on current symbol. magic number etc.
eatemplate v3.mq4 contains my comments to show you how every line in my code works;
eatemplateclean v3 doesn't contain my comments.
eateamplateworking v3 is simply ea, that shows template in action.
hello!
i have updated my template! now orders are set with magic number which prevents script from modifying your orders set manually. now you can trade by hand and by script in same time without errors!!!
also there is now ba ( stoploss moving to order opening price + spread to make order safe )
now template contains buystop and sellstop orders with easy inputs modyfing order lifetime and distance from actual price in pips.
added working template to show the way, my template works.
second update!
i also added max spread limit. if spread is bigger than "maxspread" orders wont open.
You may also like: e-news-lucky$ - automated news trading expert advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
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⚠ 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.