Profit Loss Trail EA
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Profit Loss Trail EA
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.
Description & Settings
Place/remove a take profit.
Place/modify/delete a stop loss.
Manage all orders or specific ones having a certain ID. Parameters
ManageOrders
:
Order_By_Order = Manage separately each order.
Same_Type_As_One = manage same orders (all buy or all sell as one order, like basket system).
PutTakeProfit
: Put take profit in orders (yes/no).
TakeProfitPips
: Take Profit in pips.
PutStopLoss
: Put stop loss in order (yes/no).
StopLossPips
: Stop Loss in pips.
UseTrailingStop
: Use trailing stop loss (yes/no).
PutStopLossAfter
: Put stop loss in order if order has profit x pips.
TrailingStop
: Trailing stop loss in pips (distance to follow order).
TrailingStep
: Steps in pips to use for move stop loss.
UseBreakEven
: Use Break Even (Put stop loss only in profit) (yes/no).
BreakEvenAfter
: Put stop loss if order has profit x pips.
BreakEvenPips
: Pips from order open price to put stop loss.
DeleteTakeProfit
: Delete Take Profit if there is in order (yes/no).
DeleteStopLoss
: Delete Stop loss if there is in order (yes/no).
MagicNumber
:
>0: modify identifier orders (with special ID, this number is ID).
0: modify all orders (from ea or manually).
-1: modify only manual orders.
-2: modify only chart symbol orders.
SoundAlert
: Expert play sound in each operation.
ColorBackground
: Option to change color comments' background.
