Trailing
This professional-grade solution for MetaTrader 4 helps traders achieve greater efficiency in their daily workflow. 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 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.
Description & Settings
Manages all orders in the terminal. If there is no required profit - it waits. Suitable both for manual trading and for expert advisors that lack trailing stop.
If the required profit is reached, sets the drawdown. And trails by it. Drawdown is in percent. Suppose that the following parameters are set: minimum profit = 1000. Percentage is 20. Orders reach a profit of 1000. IF the profit falls to 800 - closes them. If the price moves further, for example, reaches 2000, the allowed drawdown will be 400. That is, the orders will be closed at a total profit of 1600. There is no fixed drawdown limit, as I do not find it useful to use absolute values.
In theory, it is possible to set percentage = 0. It will act as a total take profit. It is possible to set percentage = 100, it will act as breakeven (do not forget, as some orders are being closed, others may become losing).
Attention!! The EA works independently of the arrival of quotes, except the first one. To change the parameters in trading mode, change the chart and/or timeframe, it is necessary to disable the EA using the button! Also, it is necessary to check its status after each compilation.
