How do I install this Script on MetaTrader 4?

Download the file, open MetaTrader 4 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Script?

Drag the Script from the Navigator onto your chart and adjust the input parameters as needed.

Is this compatible with MetaTrader 4?

Yes, this Script is built specifically for MetaTrader 4.

Is this Script safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Script on multiple charts?

Yes, you can apply multiple indicators on the same chart.

Can I customize the settings of this Script?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free e-so trailing expert advisor Script for MetaTrader 4

MetaTrader 4 script

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e-so trailing expert advisor

Info

The e-so trailing expert advisor is a Script for MetaTrader 4 that e-so trailing expert advisorthis expert advisor is designed for users who catch reversals with stop orders. the entire trading strategy involves placing stop orders at a certain distance from the market and moving them following the price.

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-so trailing expert advisor

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

e-so trailing expert advisorthis expert advisor is designed for users who catch reversals with stop 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.

e-so trailing expert advisor

this expert advisor is designed for users who catch reversals with stop orders. the entire trading strategy involves placing stop orders at a certain distance from the market and moving them following the price. an important aspect 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 run away from the price. this is precisely what the e-sotrailing expert advisor does – it trails stop orders.

Also recommended: trailing stop for all orders - similar script with strong performance on MetaTrader 4.

the e-sotrailing expert advisor can be attached to a single chart or multiple charts. if attached to one chart with the allsymbols=true parameter, the advisor will trail all stop orders. when attaching to multiple charts, the advisor should be used with the allsymbols=false parameter to prevent different advisor instances from interfering with each other. this allows for different trailing stop sizes and steps to be set for different charts.

the following parameters can be configured in the expert advisor:

allsymbols = false - manage stop orders for all symbols.

magicnumber = -1 - order identifier. if -1, it will trail orders with any magic number.

trailingstop = 20 - fixed trailing stop size.

trailingstep = 3 - trailing step.

usesound = true - use sound alert.

showcomment = true - display comment (advisor parameters).

clmodifybuy = aqua - color for buy modification indicator.

clmodifysell = tomato - color for sell modification indicator.

You may also like: E-LO Trailing - excellent alternative for script users on MetaTrader 4.

Source Code

#property copyright "RobotFX"
#property link "https://robotfx.org"
extern bool  AllSymbols   = False;     // Управлять всеми стоповыми ордерами
extern int   MagicNumber  = -1;        // Идентификатор ордеров
extern int   TrailingStop = 20;        // Фиксированный размер трала
extern int   TrailingStep = 3;         // 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

.......

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⚠ 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.