How do I install this Expert on MetaTrader 5?

Download the file, open MetaTrader 5 -> 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 Expert?

Drag the Expert Advisor from the Navigator panel onto a chart, enable AutoTrading, and allow live trading in the settings.

Is this compatible with MetaTrader 5?

Yes, this Expert is built specifically for MetaTrader 5.

Is this Expert 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 Expert on multiple charts?

Yes, but each chart can only run one Expert Advisor at a time. You can run multiple EAs on different charts.

Can I customize the settings of this Expert?

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

Free Candle Stop Trailing Expert Advisor Expert for MetaTrader 5

MetaTrader 5 expert

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Candle Stop Trailing Expert Advisor

Info

The Candle Stop Trailing Expert Advisor is a Expert Advisor for MetaTrader 5 that the expert advisor moves the stop loss of an open position along the border of a channel built using an indicator. The stop loss is adjusted only when a new bar is formed, based on the data of the recently closed bar, ensuring that the stop loss is eventually pinned to the current price.

Usage

This tool is typically used for automated trading on major forex pairs and gold.

Platform

This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).

Setup

Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.

How to Install and Use Candle Stop Trailing Expert Advisor

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

The expert advisor moves the stop loss of an open position along the border of a channel built using an indicator.

Typical Use Case

This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.

Compatible Platform & Setup

This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.

Description & Settings

Related: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - another powerful expert for MetaTrader 5 traders.

The expert advisor moves the stop loss of an open position along the border of a channel built using an indicator. The stop loss is adjusted only when a new bar is formed, based on the data of the recently closed bar, ensuring that the stop loss is eventually pinned to the current price.

Also recommended: Professional Automatic Trailing Stop Utility for MetaTrader 5 - similar expert with strong performance on MetaTrader 5.

This expert advisor offers a unique feature: it can display the indicator used within the EA directly on the chart, eliminating the need for manual installation. This provides convenience as the indicator is automatically displayed with matching input parameters, ensuring consistency between the EA and the displayed indicator.

Input Parameters:

Fig. 1: Exp_Candlestop_Trailing Expert Advisor's Working Chart

You may also like: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - excellent alternative for expert users on MetaTrader 5.

Source Code

#property copyright "robotfx"
#property link "https://robotfx.org"
#property version   "1.00"
input uint uptrailperiods=5; //searching period for the high               
input uint dntrailperiods=5; //searching period for the low
input uint deviation=10;  //slippage
int inpind_handle;
int min_rates_total;
#include <charts\chart.mqh>
cchart cchart;

.......

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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.