Trailing Profit Expert Advisor
Info
The Trailing Profit Expert Advisor is a Expert Advisor for MetaTrader 5 that the expert advisor (ea) efficiently manages all open positions in the terminal across various symbols and magic numbers. It operates with a unique strategy: waiting until the total profit reaches a specified minimum before initiating action.
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 Trailing Profit Expert Advisor
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) efficiently manages all open positions in the terminal across various symbols and magic numbers.
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: Equity Guard: Daily Loss, Max Drawdown, and Profit Target Protection for MT5 - another powerful expert for MetaTrader 5 traders.
The Expert Advisor (EA) efficiently manages all open positions in the terminal across various symbols and magic numbers.Also recommended: GER40 Evening Coil EA: 376% Profit with 10% Max Drawdown - similar expert with strong performance on MetaTrader 5.
It operates with a unique strategy: waiting until the total profit reaches a specified minimum before initiating action.
Once the total profit meets the minimum requirement, the EA activates profit drawdown tracking, ensuring a percentage-based approach to managing positions.
The 'percent_of_profit' parameter defines the drawdown threshold as a percentage of the total profit. For instance, with a 'minimum_profit' of 1000 and 'percent_of_profit' of 20, the EA will close positions if the profit falls to 800 (20% drawdown). If the profit grows to 2000, the drawdown limit adjusts to 400, allowing for a total profit of 1600 upon closing positions.
This dynamic drawdown mechanism ensures flexibility, adapting to changing profit levels. Setting the percentage to 0 acts as a total take profit, while 100 functions as a breakeven strategy, considering the dynamic nature of multiple orders.
Note: The EA operates on a 3-second interval, providing efficient and timely management of positions.
You may also like: Nikkei 225 EA: High Profitability with Low Volatility and Quiet Volume - 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.