Mod Stop Reverse EA with Trailing Orders and Break-Even Levels
Info
The Mod Stop Reverse EA with Trailing Orders and Break-Even Levels is a Script for MetaTrader 4 that expert advisor operating on a "roly-poly" principle, enhanced with trailing stop orders and an indicator for break-even levels. The code is clear and understandable.
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 Mod Stop Reverse EA with Trailing Orders and Break-Even Levels
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
Expert Advisor operating on a "roly-poly" principle, enhanced with trailing stop orders and an indicator for break-even levels.
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-move slt pby mouse: intuitive stop loss and take profit management - another powerful script for MetaTrader 4 traders.
Expert Advisor operating on a "roly-poly" principle, enhanced with trailing stop orders and an indicator for break-even levels.Also recommended: trailing stop for all orders - similar script with strong performance on MetaTrader 4.
The code is clear and understandable.Mod Stop Reverse EA
This Expert Advisor utilizes a "roly-poly" or "bo-peep" logic, where positions are reversed upon certain conditions being met.
Key Features:
- Roly-poly mechanism for position reversal.
- Trailing stop functionality for pending orders.
- Integrated break-even level indicator.
- Clear and commented code for user understanding.
This EA is designed for traders who prefer automated strategies with built-in risk management features like trailing stops and break-even points.
You may also like: i-Total Stop Indicator - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#define MAGIC 1000
#include <stdlib.mqh>
extern string _Parameters_Trade="----- Параметры торговли";
extern bool UseTrailing=True; // Использовать трал
extern bool ProfitTrailing= False; // Тралить только профит
extern int TrailingStop = 20; // Фиксированный размер трала
extern int TrailingStep=1; // Шаг трала
extern int Slippage = 3; // Проскальзывание цены.......
⚠ 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.