at r-based stop loss manager
Info
The at r-based stop loss manager is a Library for MetaTrader 5 that this is a comprehensive stop loss and trailing stop management class for metatrader 4/5 (mt4/mt5). it provides a set of methods to calculate stop loss levels using various methods and manage trailing stops.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use at r-based stop loss manager
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
this is a comprehensive stop loss and trailing stop management class for metatrader 4/5 (mt4/mt5).
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: Fibo Candles Indicator-Based Trading Signals Module - another powerful library for MetaTrader 5 traders.
this is a comprehensive stop loss and trailing stop management class for metatrader 4/5 (mt4/mt5). it provides a set of methods to calculate stop loss levels using various methods and manage trailing stops.Also recommended: Price Channel Stop Indicator Trading Signals Module - similar library with strong performance on MetaTrader 5.
the class includes an enumeration of stop loss calculation methods (fixed pips, atr-based, swing high/low, and percentage of price) and trailing stop methods (fixed distance, atr-based, step, and breakeven).
it also defines a structure for storing stop loss calculation results, including the stop loss price level, distance in points and pips, validity flag, and error message.
the class constructor initializes the stop loss manager with the trading symbol, timeframe, and atr period. it also calculates the symbol point size, pip size, and broker minimum stops level.
the init method initializes the stop loss manager with the provided symbol, timeframe, and atr period. it validates the symbol data and creates the atr indicator handle.
the calculatestoploss method is the universal stop loss calculation method, which takes the calculation method, trade direction, entry price, and parameters as input. it returns a stop loss result structure.
the class provides specific methods for each stop loss calculation method: calculatefixedpipssl, calculateatrsl, calculateswingsl, and calculatepercentsl. these methods calculate the stop loss price based on the selected method and return a stop loss result structure.
the calculatetakeprofit method calculates the take profit price based on the risk:reward ratio, trade direction, entry price, and stop loss price.
the calculatetrailingstop method is the universal trailing stop calculation method, which takes the trailing method, trade direction, entry price, current stop loss, and current price as input. it returns the new stop loss level.
specific methods for each trailing stop method are provided: trailfixed, trailatr, trailstep, and trailbreakeven. these methods calculate the new stop loss level based on the selected trailing method.
utility methods are included for converting pips to points, points to pips, and pips to price distance.
the class also provides methods to get atr indicator values, swing high/low prices, and normalize prices to symbol digits.
the adjustforstopslevel method adjusts the stop loss price to meet the broker's minimum stops level.
the class is designed to be flexible and extensible, allowing for easy integration into trading strategies and risk management systems.
You may also like: WPR-Based Trailing Stop Module - excellent alternative for library users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "This code is provided AS IS and intended for educational purposes only. Professional trading EAs and indicators - robotfx www.robotfx.org"
#property description "This code is provided AS IS and intended for educational purposes only. Professional trading EAs and indicators - robotfx www.robotfx.org"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_label1 "buy sl"
#property indicator_type1 draw_line.......
⚠ 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.