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REGISTER PARTICIPANTS Expert Simpletrailingstop Mt4

Discussion in 'Forex Market MQL5' started by James Goldman, Sep 29, 2020.

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  1. James Goldman

    James Goldman Moderator
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    #simpletrailingstop

    simpletrailingstop-logo-200x200-2495.png

    This Expert Advisor doesn't trade and can't be backtested.

    Trailing Stops automatically update the Stop order price as the market price moves in your favor.

    Dynamic Trailing Stop
    With a Dynamic Trailing Stop, the stop will trail in the direction of the trade for every 0.1 pips that the trade is profitable.

    For example: You buy the EUR/USD at 1.3000(0) and place a 20 pip stop at 1.2980(0) and check the Trailing Stop box to activate a Dynamic Trailing Stop.

    • The EUR/USD then rises by 30.2 pips to 1.3030(2)
    • With every single 0.1 of a pip, your stop automatically moves up. After this 30.2 pip move, your stop will now have moved to 1.3010(2)
    • The stop will continue to rise if the EUR/USD rises
    • If the EUR/USD falls, the stop will remain at 1.3010(2). If the EUR/USD falls to 1.3010(2) your stop will execute and close your trade at the next best available price in the market
    Input Parameters
    • Trail = true - Enable/Disable AutoTrail
    • TrailingStop = 15 - Default 15 pips auto trail, Manually choose the trail pip according to your requirement

    simpletrailingstop-screen-1071.png

     

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