Expert Advisor ATR Trailing Stop
Info
The Expert Advisor ATR Trailing Stop is a Expert Advisor for MetaTrader 5 that the expert advisor (ea) adjusts the stop loss of an open position along the channel border constructed using atr_trailing. The stop loss is updated only when a new bar forms, based on the data from the recently closed bar, ensuring that the stop loss remains close 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 Expert Advisor ATR Trailing Stop
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 (EA) adjusts the stop loss of an open position along the channel border constructed using ATR_Trailing.
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: Market Miner Expert Advisor - another powerful expert for MetaTrader 5 traders.
The Expert Advisor (EA) adjusts the stop loss of an open position along the channel border constructed using ATR_Trailing. The stop loss is updated only when a new bar forms, based on the data from the recently closed bar, ensuring that the stop loss remains close to the current price.Also recommended: Weekly Day Reversal Expert Advisor - similar expert with strong performance on MetaTrader 5.
This EA offers a unique feature: it can display the indicator used within the EA directly on the chart, eliminating the need for manual installation. This ensures that the indicator's input parameters always match those of the EA, providing a seamless and convenient visualization.
Here's the code snippet enabling this functionality:
Expert Advisor Input Parameters: Image:
Exp_ATR_Trailing 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 int period_atr=14; //r period
input double sell_factor=2.0;
input double buy_factor=2.0;
input uint deviation=10; //slippage
int inpind_handle;
int min_rates_total;
#include <charts\chart.mqh>.......
⚠ 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.