Trailing Profit
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 Trailing Profit
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 Expert Advisor manages all open positions in the terminal (on all symbols and with all magic numbers). If the total profit has not reached "
minimum_profit
", the EA waits.
If the total profit has reached "
minimum_profit
", the EA sets a percent of profit drawdown and enables tracking.
The "
percent_of_profit
" parameter is specified in percent. For example, "
minimum_profit
" = 1000 and "
percent_of_profit
" 20. The total profit of all open positions has reached 1000. If the profit falls to 800 (1000 - 20%), positions will be closed. If the profit continues to grow, for example up to 2000, the allowable drawdown will be equal to 400 (2000 - 20%). That is, all positions will be closed with the total profit of 1600. There is no fixed drawdown limit, as I do not find it useful to use absolute values.
In theory, it is possible to set percentage = 0. It will function as a total Take Profit. It is possible to set percentage = 100, it will function as breakeven (do not forget, as some orders are being closed, others may become losing).
Attention! The Expert Advisor works with the 3-second interval:
