Exp breakeven trailing SL
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Exp breakeven trailing SL
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.
Description & Settings
The Exp_breakeven_trailing_SL Expert Advisor transfers to break-even and/or trails positions on every currency pairs or only on the current one.
Adjustable parameters:
1. symbol:
The EA works only with current currency pair
or with every positions.2. magic:
the EA works with all magic numbers (set -1);
only with positions opened by user (set magic to 0);
or with positions opened by other Experts (set the corresponding magic).
3. Next come the break-even and trail sizes. If the parameters are set to 0, then the function will not enabled.
It is possible to choose break-even only, trail only, or both. If trail only is chosen, then the first Stop Loss transfer will be similar to break-even transfer.
Break-even parameters: plus points — how far the price has to go into the green in order to move Stop Loss by a single step from opening price in step breakeven points
Trail parameters: plus points — how far the price has to go into the green from opening price for negative Stop Loss, or from Stop Loss price, if it is in the green, in order to move Stop Loss by a single step in trailing step points.
If plus points of the trail are set less than plus points of the break-even, then break-even is triggered first, trail is triggered later.
Comments describe what is enabled — trail and/or break-even or all off, and also the the currency pair the Expert is working with.
