tp sl trailing
Info
The tp sl trailing is a Expert Advisor for MetaTrader 5 that stop loss (stop loss) and take profit (take profit) initial setting if these properties are not set for the position. trailing works only for profitable positions.
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 tp sl trailing
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
stop loss (stop loss) and take profit (take profit) initial setting if these properties are not set for the position.
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: Professional Automatic Trailing Stop Utility for MetaTrader 5 - another powerful expert for MetaTrader 5 traders.
Also recommended: Expert Advisor ATR Trailing Stop - similar expert with strong performance on MetaTrader 5.
stop loss (stop loss
) and take profit (
take profit
) initial setting if these properties are not set for the position. trailing works only for profitable positions.
if
only zero values
is "true" - this means searching for positions having either stop loss, or take profit equal to zero. as soon as such a position is found:
if this is a buy position
a stop loss is set: current price (
bid
) minus stop loss
a take profit is set: current price (
bid
) plus take profit
if this is a sell position
a stop loss is set: current price (
ask
) plus stop loss
a take profit is set: current price (
ask
) minus take profit
if the
only zero values
parameter is "false", stop loss (
stop loss
) and take profit (
take profit
) parameters are disabled.
the ea works for all positions on the current symbol - unique magic number is not considered.
to see how it all works, uncomment the strings:
and launch the ea in the strategy tester.
You may also like: Candle Stop Trailing Expert Advisor - excellent alternative for expert users on MetaTrader 5.
Source Code
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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.