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Universal trailing stop EA
Universal trailing stop EA Can run as a single Expert Advisor or a script, together with any Expert Advisor.
Depending on the variable TrailingStop, trailing may be performed using the fractals, the extremal values of bar in the past or using the specified points.
If TrailingStop is greater than 0, then trailing will be carried out with the specified points, which are defined in the variable TrailingStop. If TrailingStop is less than the minimal limit stops, trailing stops will be minimal.
If TrailingStop = 0 and Tip.Fr.or.Candl = 0, then trailing will performed using the fractals. The first corresponding fractal is used for the trailing.
If TrailingStop = 0 and Tip.Fr.or.Candl = 1, then trailing will performed using the minimal/ maximal price values of the previous candle.
If Magic = 0, then the trailing will performde on all orders with of this character, without the magic number. If the variable specified Magic magic number, respectively, will only trailing orders with the number of Magic.
If OnlyProfit = true, then trailed profit orders only.
If OnlyWithoutLoss = true, then orders trailed to the price level without loss only.
TrailingStopFrCn.mq4 8.43 kb, 60 downloads since 2014-10-10
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Let's talk about the TrailingStop MT4 Expert Advisor
https://mt4talk.com/viewtopic.php?pid=1910#p1910
The EA does one job exceptionally well: it tracks the price of your open trades and locks in profits or limits losses, all automatically! Whether you're into short-term bursts or long-term investments, TrailingStop can adapt to your style.
How this EA works:
TrailingStop constantly monitors your trades, be it buying or selling.
It calculates a dynamic stop-loss level based on your preferences.
If the market moves in your favor, TrailingStop adjusts your stop-loss, locking in profits.
If the market turns against you, it protects your investments by moving the stop-loss accordingly.
You can customize it with parameters like Magic Number, TrailingStop value, and more.
Adjustable Parameters:
OnlyProfit: Keep this on if you want to secure profits automatically.
OnlyWithoutLoss: Use this to decide whether to move stop-losses when there are no losses.
Magic: It's like a name tag for your trades, helpful if you have multiple EAs running.
TrailingStop: Set your preferred value for how much room the EA has to adjust stop-losses.
Tip.Fr.or.Candl: Choose 0 for Fractals or 1 for candlestick-based strategies.
Using the TrailingStop EA helps you:
Avoid the hassle of constantly monitoring your trades.
Lock in profits automatically when the market moves in your favor.
Protect your investments by adjusting stop-losses when the market turns against you.
Customize it to fit your trading style with adjustable settings.
In my opinion, the TrailingStop EA is a valuable tool for traders because it takes the stress out of monitoring trades and helps you maximize profits while minimizing risks. Plus, you can customize it to suit your trading style.
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