trailing stop with magic number
Info
The trailing stop with magic number is a Expert Advisor for MetaTrader 4 that trailing stop really supports our trading by shifting the stop loss to the profit area so that we can always automatically secure our trades. we will start the code by specifying the input trailing stop parametersglobal variablewhen we run this ea, the oninit () function will be executed for the first time and in this function we will validate and initialize the input variables.
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 stop with magic number
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
trailing stop really supports our trading by shifting the stop loss to the profit area so that we can always automatically secure our trades.
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.
trailing stop really supports our trading by shifting the stop loss to the profit area so that we can always automatically secure our trades.we will start the code by specifying the input trailing stop parameters
global variable
when we run this ea, the oninit () function will be executed for the first time and in this function we will validate and initialize the input variables.
every time a price movement (tick) occurs on the chart where this ea is paired, the ontick () function will be executed. inside the ontick () function will call the settrailingstop () function
function settrailingstop()
other standard functions required is getpippoint()
if you have any questions, please leave them in the comments or you can also join our group sharing (in indonesian)
we also provide the signalforex app
you can support us by downloading and continue to use the signalforex app to support your trading more profitably
You may also like: e-moving in wl2: automated stop loss adjustment - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
input bool istrailingstop = true; //trailing stop
input int trailingstart = 15; //trailing start (pips)
input int trailingstep = 5; //trailing step (pips)
input int magicnumber = 0; //magic number
double mypoint = 0.0;.......
⚠ 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.