MT4 Trailing Stop EA
The Trailing stoploss EA is an intelligent robot that trails StopLoss along with the price, generating high profits and providing an optimum exit point. It helps you to catch highest pips in the unpredictable markets. Try trailing stoploss when you are unsure about how long the market will move, and this EA will exit your Trade at the optimum level generating high profits.
The MT4 Trailing Stop EA is designed for MetaTrader 4 platform. It provides best risk management strategy to maximize profits and effectively manage your trades. Trailing stop EA intelligently trails stoploss to the precise levels and provides optimum exit point (aka Trailing stop limit) while protecting against potential market reversals. Here is the complete list of features:
- Universal Bot: The MT4 Trailing Stop EA applies to all currency pairs traded on the MetaTrader 4 platform. Regardless of the specific currency pair on which the EA is installed, it will trail and manage the stop-loss levels of all open trades across different currency pairs.
- Automated Trailing Stop: The MT4 Trailing Stop EA automatically adjusts the stop-loss level for all trades across multiple currency pairs on MT4 platform. This means that once the trailing stop is set, it will trail all open trades, regardless of the currency pair.
- Profit Protection: The trailing stop functionality is designed to protect profits by dynamically adjusting the stop-loss level as the trade moves in the trader’s favor. It allows traders to capture more significant gains during favorable market conditions while protecting against potential reversals.
- Customizable Parameters: Traders can customize the trailing stop parameters such as trailing start pips, trailing step pips and ATR settings.
- ATR settings: Trader can either adjust trailing stop loss according to pips or ATR.
- Currency pair settings: As it is a multicurrency EA, there are 3 options available which are always changeable inside settings
- Allow trailing stoploss only for the current chart.
- Allow trailing stoploss for all currency pairs and charts.
- Allow trailing stoploss for specific currency pairs and chart.
- Trade Optimization: By utilizing the trailing stop feature, traders can optimize their trades by capturing larger profits during trending markets while allowing room for potential market fluctuations. It helps traders stay in winning trades longer and exit trades at optimal levels.
- User-Friendly Interface: The MT4 Trailing Stop EA offers a user-friendly interface that simplifies the installation, configuration, and monitoring process. All Traders from Beginner to Expert level can easily set up the trailing stop order functionality without the need for extensive technical expertise.
- Live Market: The MT4 Trailing stoploss EA has the ability to run in the live market and demo account across all charts & pairs including Forex, Cryptos, Metals, Commodities, Stocks etc.
How it works
- Install MT4 trailing stoploss EA into your MetaTrader 4 platform
- Load the EA file onto the chart
- Adjust trailing stoploss settings according to your preferences
- You can either allow pips based trailing stoploss
- Or you can allow ATR based trailing stoploss
- Select currency pairs according to your trading preferences
- You can either allow trailing stoploss only for the current chart
- Or you can allow trailing stoploss for all currency pairs and charts
- Or you can allow trailing stoploss for specific currency pairs and charts
- The Trailing stoploss EA will be running on one chart, but it will be trailing the stoploss of all the charts on MT4 platform.
Example for Buy trade
Let’s take an example of Trailing Buy Order with following parameters
Trailing start = 10 pips
Trailing step = 5 pips
The trailing stoploss triggers when the Buy order goes into 10 pips of profit. The stoploss is always trailing 5 pips away from the market price. The stoploss is lower than the market price so that whenever there is a strong reversal, the trade will exit away. In the below example all the market reversals smaller than 5 pips are ignored. The trade gets Exit when there is a strong market reversal eventually closing the Buy trade at optimum profit level.
Example for Sell trade
Let’s take an example of Trailing Sell Order with following parameters
Trailing start = 10 pips
Trailing step = 5 pips
The trailing stoploss triggers when the Sell order goes into 10 pips of profit. The stoploss is always trailing 5 pips away from the market price. The stoploss is lower than the market price so that whenever there is a strong reversal, the trade will exit away. In the below example all the market reversals smaller than 5 pips are ignored. The trade gets Exit when there is a strong market reversal eventually closing the Sell trade at optimum profit level.
How to set Trailing Start and Trailing step pips
Choosing the right ‘Trailing steps’ is very important. If trailing steps is too small, your trade might exit by a small market reversal. On the other hand, if trailing steps are too large, your trade might miss the optimum exit point. One way to deal with this situation is to use ATR based trailing steps that adjusts itself according to the chart and market conditions. In this case, the 5 pips trailing step is an optimum number on the M5 EURUSD chart. If you go to higher timeframe, you should increase trailing start and steps according to the candle size.
In conclusion, the MT4 Trailing Stop EA is Multi currency expert advisor for traders seeking to enhance their trading performance and manage their trades with precision. By automating the trailing stop functionality, this expert advisor provides traders with a powerful solution to protect profits, minimize losses, and optimize their trading results. Whether you are a novice or an experienced trader, the MT4 Trailing Stop EA will become an invaluable asset for your trading, helping you navigate the markets with confidence and achieve greater success.
- Allow Trailing Stop?: Set to True if you want to enable the Trailing Stop feature, which adjusts the stop-loss level as the trade moves in your favor. Set to False to disable the Trailing Stop feature.
- Apply To: Select the desired option to determine which trades the Trailing Stop feature will be applied to:
All Pairs: Trailing Stop will be applied to all trades across the entire MT4 account.
Current Pair: Trailing Stop will only be applied to trades of the current currency pair.
Custom Pairs: Trailing Stop will only be applied to the specified custom currency pairs.
Enter Comma Separated Custom Pairs without space: If you selected the “Custom Pairs” option in the previous setting, specify the custom currency pairs you want the Trailing Stop feature to be applied to. Enter the currency pairs separated by commas without spaces. For example: EURUSD,GBPUSD,GOLD.
- Trailing Based on: Select whether you want the Trailing Stop to be based on pips or ATR (Average True Range).
ATR: The Trailing Stop will be based on the Average True Range indicator.
Pips: The Trailing Stop will be based on a specified number of pips.
- Trailing start pips: If “Trailing Based on” is set to Pips, specify the number of pips from the highest profit level reached before the Trailing Stop starts adjusting the stop-loss level.
- Trailing step pips: If “Trailing Based on” is set to Pips, specify the number of pips as the step or increment for adjusting the stop-loss level as the trade moves in your favor.
- ATR Period: If “Trailing Based on” is set to ATR, specify the number of periods to calculate the Average True Range indicator.
- ATR Multiplier: If “Trailing Based on” is set to ATR, specify the multiplier to adjust the calculated ATR value. This multiplier allows you to control the sensitivity of the Trailing Stop to market volatility.