This is a simple Expert Advisor with an implemented trailing stop.
It has only two parameters:
TrailingStop — the distance between the price and the Stop Loss level.
TrailingStep — protection against to frequent modification of position.
How TrailingStop works — the example of the Buy position:
Originally the StopLoss of a position is equal to zero, we wait for the following condition to be met
— i.e. when the Bid minus TrailingStop is greater than the position open price PriceOpen:
StopLoss is moved to the PriceOpen level (position open price):
now, when the position has StopLoss (i.e. when StopLoss is not equal to zero), wait for the following condition to be met:
— i.e. when the Bid minus TrailingStop minus TrailingStep is greater than the StopLoss price: So here we need to additionally check TrailingStep — this prevent position modification on every tick:
StopLoss is then moved to Bid minus TrailingStop:
Here is why we need a protection in the form of TrailingStep:
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/17263
An example of working with the trading history on Hedge accounts — reconstruction of positions.BIG DOG
The EA places pending stop orders BUY_STOP and SELL_STOP.