E-LO Trailing
Info
The E-LO Trailing is a Script for MetaTrader 4 that this expert advisor is designed for those who catch the continuation of price movement using limit orders. The entire tactic involves placing limit orders at a certain distance from the market and moving them as the price changes.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use E-LO Trailing
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
This expert advisor is designed for those who catch the continuation of price movement using limit orders.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: e-v trailing by profit expert advisor - another powerful script for MetaTrader 4 traders.
This expert advisor is designed for those who catch the continuation of price movement using limit orders. The entire tactic involves placing limit orders at a certain distance from the market and moving them as the price changes. The key point is that orders are pulled towards the price, meaning they only move if the price has moved away from the orders. The orders do not move away from the price. This is exactly what the E-LO Trailing expert advisor does - it trails limit orders. The E-LO Trailing expert advisor can be placed on one chart or multiple charts. If placed on one chart with the parameter allsymbols=true, the expert advisor will trail all limit orders. If placed on multiple charts, the expert advisor can only be used with the parameter allsymbols=false, so that different copies of the expert advisor do not interfere with each other. This allows for different trail sizes and steps to be set for different charts. The following parameters can be configured in the expert advisor: - allsymbols=true - Manage all limit orders. - trailingstop=120 - Fixed trail size. - trailingstep=20 - Trail step. - usesound=true - Use a sound signal. - showcomment=true - Show a comment. - clmodifybuy=aqua - Color of the buy modification icon. - clmodifysell=tomato - Color of the sell modification icon.Also recommended: e-so trailing expert advisor - similar script with strong performance on MetaTrader 4.
You may also like: trailing stop for all orders - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
extern bool AllSymbols = True; // Управлять всеми лимитными ордерами
extern int TrailingStop = 120; // Фиксированный размер трала
extern int TrailingStep = 20; // Шаг трала
extern bool UseSound = True; // Использовать звуковой сигнал
extern bool ShowComment = True; // Показывать комментарий
extern color clModifyBuy = Aqua; // Цвет значка модификации покупки
extern color clModifySell = Tomato; // Цвет значка модификации продажи
bool gbNoInit = False; // Флаг неудачной инициализации.......
⚠ 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.