function library for maintaining positions with a simple trailing stop
Info
The function library for maintaining positions with a simple trailing stop is a Library for MetaTrader 4 that with the help of this library it is possible to implement the ability to maintain positions with a simple trailing stop in any expert advisor. this library is universal and is designed to be able to connect to virtually any ea using the #include compiler directive and granting the ea the ability to maintain positions with a simple trailing stop.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Libraries folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use function library for maintaining positions with a simple trailing stop
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
with the help of this library it is possible to implement the ability to maintain positions with a simple trailing stop in any expert advisor.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Library works on MetaTrader 4. Place the file in the MQL4/Libraries folder and restart the terminal.
Description & Settings
Related: standard library - another powerful library for MetaTrader 4 traders.
with the help of this library it is possible to implement the ability to maintain positions with a simple trailing stop in any expert advisor. this library is universal and is designed to be able to connect to virtually any ea using the #include compiler directive and granting the ea the ability to maintain positions with a simple trailing stop.
Also recommended: BB MA C D Functions - similar library with strong performance on MetaTrader 4.
in order to connect the library to an ea it is necessary to make the following changes:1. insert the compiler directive before the declaration of functions:
2. declare the global variables:
3. declare the external parameters:
4. insert the line at the end of the start() function:
5. place the library file a-simpletrailing.mqh into the terminal folder ...\experts\include\
once the library is connected, the ea will have the following external parameters:
the trailingpositions() function can take on the following parameters:
- symbol name ("" - current symbol);- operation (-1 - any position, 0 - buy, 1 - sell);- magicnumber (-1 - any magic number).
this allows to narrow the scope of the trailing stop operation. for example, trail only euro:
or trail only pound sells:
and if the ea uses a magic number, then it must be passed to the maintenance function:
You may also like: Custom Functions: iacfunc, iaofunc, and ibearsbullsfuncs - excellent alternative for library users on MetaTrader 4.
Source Code
extern string _p_trailing = "---------- ";
extern bool usetrailing = true; //
extern bool profittrailing = true; //
extern int trailingstopbuy = 50; //
extern int trailingstopsell = 50; //
extern int trailingstep = 5; //
void trailingpositions(string sym = "", int op = -1, int mn = -1)
{
double p, pp;
int i, k = orderstotal();.......
⚠ 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.