Q-Follow Trailing Stop EA
Info
The Q-Follow Trailing Stop EA is a Expert Advisor for MetaTrader 4 that q-follow ea implements trailing stop functionality for both buy and sell orders. This Expert Advisor is designed to manage breakout trading scenarios.
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 Q-Follow Trailing Stop 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.
What this tool does
Q-Follow EA implements trailing stop functionality for both buy and sell 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: Quantora Trailing Stop Manager: Automatic Stop Loss for MT4 - another powerful expert for MetaTrader 4 traders.
Q-Follow EA implements trailing stop functionality for both buy and sell orders.Also recommended: e-trailing2: enhanced trailing stop expert advisor - similar expert with strong performance on MetaTrader 4.
This Expert Advisor is designed to manage breakout trading scenarios.
It allows for the placement of sell stop orders below the current price and buy stop orders above the current price, or both simultaneously.
Sell Stop Order Execution:
The sell stop order is triggered when the price falls below a defined trigger price. If the price continues to fall, the trigger price will also adjust downwards.
Buy Stop Order Execution:
The buy stop order is triggered when the price rises above a defined trigger price. If the price subsequently falls, the trigger price will also adjust downwards.
Trigger Price Initialization:
The trigger price is set at an initial distance from the current market price, configurable in pips (e.g., 50 pips).
Usage as a Tool:
This Expert Advisor functions as a management tool rather than a standalone trading system. When used strategically, it can be highly profitable.
Example Use Cases:
- Deploying the EA before a significant news event.
- Managing trades in consolidation patterns (like triangles) where a breakout is anticipated.
- Implementing a trailing stop buy order during a sharp, unexplainable price decline.
You may also like: e-trailing: automated trailing stop for all positions - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#include "include/stdlib.mqh"
extern int pipslong=300;
extern int pipsshort=300;
extern double lots=0.01;
extern int stoploss=300;
extern int trailingstop=100;
extern int takeprofit=100;
extern int slipage=30;.......
⚠ 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.