trailing
Info
The trailing is a Expert Advisor for MetaTrader 4 that manages all orders in the terminal. if there is no required profit - it waits.
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 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
manages all orders in the terminal.
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.
Also recommended: e-trailing2: enhanced trailing stop expert advisor - similar expert with strong performance on MetaTrader 4.
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.
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"
extern double percent_of_profit =33;
extern double minimum_profit = 1000;
double profit,profit_off,result;
bool trail_enable=false,close_start=false;
int init()
{
profit_off=0;
result = 0;.......
⚠ 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.