Trade Management Expert Adviser (Trailing Stop EA) for MT4
Break Even & Trade Management expert adviser is Trailing Stop EA for MT4. A multipurpose expert adviser that is coded to manage open positions and to let the winning trades run to fetch maximum pips. This Trailing Stop EA for MT4 works with Meta Trader 4 Forex trading platform & can be used in multiple ways. (as shown in below picture)
Features of Trailing Stop EA for MT4
The Trailing Stop EA for MT4 offers Multiple Features as Explained Below:
- Set initial Take Profit as defined by the user
- Set initial Stop Loss as defined by the user
- Set Stop Loss to Break Even (order open price) After Specified Pips in profit
- Trailing Stop EA for MT4 feture can be used in two ways:
- Trailing stop defined in pips – EA will start trailing after specified pips move in profit.
- Trail by Hi or Low of previous candle – EA will set take profit before previous candle hi or low defined in the picture. (for Swing Traders-Work best on H4 or Higher Time frames as shown in the below Figure).
Break Even Feature:
If Break_Even Field is set to True: Trailing Stop EA for MT4 allows you to set the pips to trigger the Expert Adviser to move your stop loss at break even (trade open price) after the initial target is reached (specified in BE-Pips).
Trailing Stop EA for MT4 will automatically adjust your stop loss to break even once specified pips are moved in profit. Unlike many of the other break even Expert Adviser, Trailing Stop EA for MT4 allows you to set a custom break-even point.
Trail Stop Feature:
When Trail Stop feature is set to TRUE, Trailing Stop EA for MT4 will consider Break_Even as FALSE.
Now you have two options;
- Trail Stop by Previous Candle High or Low: Trail stop by previous candle hi or low works best for swing traders.
- In Long (Buy) trades, stop loss is moved at the low price of previous candle.
- In Short (Sell) trades, stop loss is moved at the high price of previous candle.
Please see the below picture that explains the concept. This feature should be used on Larger Time Frames for Best Results. To enable this feature you have to set “Trail_by_Hi_Lo” to True.
- Trail by Points: When Use_Trail_ Stop is TRUE and “Trail_by_Hi_Lo” set to FALSE, Now Trailing Stop EA for MT4 will trail the StopLoss with the specifies number of pips.
Some General Settings required in MT-4 for Proper Functioning:
In order for the Trailing Stop EA for MT4 to alter your trades automatically, you must make sure that “Ask manual confirmation” is unchecked under the Common tab of the EA (above).
You’ll also need to make sure “Ask manual confirmation” is unchecked in your Meta Trader 4 options (below).
Go to Tools > Options to access the screen in the image below. All of the check boxes on the left should be checked in order for this break even expert adviser to make adjustments to your live trades.
Lastly, make sure your Expert Advisers button is turned on in your Meta Trader 4 platform. If your settings are correct, you should be able to drag this trade management EA onto any chart, enter your values, and walk away from your screen.
This is particularly useful when trading larger time frames, however, adjusting your stop loss is a good money management practice on any time frame. Hope you like this break even and trade management expert adviser (Trailing Stop EA for MT4) for MT4.
We are so confident about Trailing Stop EA for MT4 to offer you 100% Money Back Guarantee. If you are not satisfied with the results of our Trailing Stop EA for MT4 and found this is not working as per the the above mentioned criteria, you can claim your money back with 30 Days. (refund terms apply)
Regular Price of this Expert Adviser is $ 199.99 , But for a limited period of time this indicator is available for $79.00 only. Download the trial version to check whether this suits you.
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