TP SL Trailing
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 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.
Description & Settings
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.
