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MetaQuotes Software Corp.
Moderator
185336
MetaQuotes Software Corp.  

New article How to Create Your Own Trailing Stop is published:

The basic rule of trader - let profit to grow, cut off losses! This article considers one of the basic techniques, allowing to follow this rule - moving the protective stop level (Stop loss level) after increasing position profit, i.e. - Trailing Stop level. You'll find the step by step procedure to create a class for trailing stop on SAR and NRTR indicators. Everyone will be able to insert this trailing stop into their experts or use it independently to control positions in their accounts.

Figure 11. Buttons and Indicators on the Chart After Starting the Sample_TrailingStop.

Author: Дмитрий

nerobot
85
nerobot  

Very useful. Thanks.


Steven


Jose Eduardo Morales Morales
5218
Jose Eduardo Morales Morales  

Thank you for this article, very helpful.

Mora 

Lorenz Funderburk
651
Lorenz Funderburk  

Yes, this article is very useful,  but an "update" for MT5 build 684 is required. When I tried to use this program (especially the sub-program: "sample_trailingstop.mqh"), I received the error message: "attempt to connect  by terminal of old build 674". I.e., the new update obviously requires a different format for orders.

Can anyone help? I need it desperately!

Thanks in advance!

L. Funderburk

onewithzachy
2271
onewithzachy  
locan.BBS:

Yes, this article is very useful,  but an "update" for MT5 build 684 is required. When I tried to use this program (especially the sub-program: "sample_trailingstop.mqh"), I received the error message: "attempt to connect  by terminal of old build 674". I.e., the new update obviously requires a different format for orders.

Can anyone help? I need it desperately!

Thanks in advance!

L. Funderburk

Hi locan.BBS,

I don't understand, what kind a help you're looking for ?, just update to 684 or re -install MT5 will update MT5 to 684.


Lorenz Funderburk
651
Lorenz Funderburk  
onewithzachy:

Hi locan.BBS,

I don't understand, what kind a help you're looking for ?, just update to 684 or re -install MT5 will update MT5 to 684.


Thanks, onewithzachy!

Soon afterwards, I discovered that a defective "Strategy Tester" is/was at fault. Now the "SAR_trailing" EA is working.

But unfortunately my entries are even before the SAR line takes effect. Thus price can slip lower (or higher when shorting) at the beginning and never trigger the SAR alarm. (In accordance with the old rule: "The market can stay overbought(/sold) longer than you can stay solvent!")

That seems to make it more or less useless for me, since one of the biggest problems in counter-trend trading is signal failure in cascading markets. If your EA is working all the time, you will obviously have to deal in countertrends, too, which is dangerous if you don't have a universal SL.

So I have decided to try the NRTR method.

But unfortunately there seems to be a REAL PROBLEM with the file "my_first_NRTR_trailing", as even with the original file (without my modifications) a "trailing error" is immediately triggered, while this is not the case with the "SAR_trailing" counterpart. I am using the exact same program which works with the "SAR" variation, with just the few specific modifications at the beginning for "NRTR". What could be the problem there and what can a "newbie" do about it?


Thanks in advance for your (or other) sage advice!

L. Funderburk


Pine Pienaar
58
Pine Pienaar  

Hi, I'm very new to the MQL5 community so please bear with me. How do I get this expert adviser to run in MT5? Is it possible or does it have copy rights?

Regards

Pine 

Alain Verleyen
Moderator
32416
Alain Verleyen  
Pine56:

Hi, I'm very new to the MQL5 community so please bear with me. How do I get this expert adviser to run in MT5? Is it possible or does it have copy rights?

Regards

Pine 

Hello,

You can use it without problem. See the documentation to learn how to run an expert advisor.

Lorenz Funderburk
651
Lorenz Funderburk  

I have been using the SAR trailing stop according to your program for several years, but I find that it no longer fits my requirments. So I want to try the NRTR method, which I hadn't installed before, by just changing the include call parameters in my EA. Everything else I am doing just as before.

But I am getting the following error message:

'fabct1cN.mq5'    fabct1cN.mq5    1    1
'my_first_ea_nrtrtrailing.mq5'    my_first_ea_nrtrtrailing.mq5    1    1
'Sample_TrailingStop.mqh'    Sample_TrailingStop.mqh    1    1
'OnInit' - function already defined and has body    fabct1cN.mq5    134    5
'OnTimer' - function already defined and has body    fabct1cN.mq5    258    6
'OnDeinit' - function already defined and has body    fabct1cN.mq5    265    6
'OnTick' - function already defined and has body    fabct1cN.mq5    285    6
'Lot' - constant cannot be modified    fabct1cN.mq5    480    4
'Lot' - constant cannot be modified    fabct1cN.mq5    820    22
'Lot' - constant cannot be modified    fabct1cN.mq5    820    37
'Lot' - constant cannot be modified    fabct1cN.mq5    851    22
'Lot' - constant cannot be modified    fabct1cN.mq5    851    37
possible use of uninitialized variable 'tm'    Sample_TrailingStop.mqh    248    20

9 error(s), 1 warning(s)        10    2


Any suggestions would be greatly appreciated!

Thank you in advance!

Regards,

Locan.BBS

igorsds
10
igorsds  

Thank you. Great article.

For who that are having problem with indicator nrtr: it's necessary download and compile the indicator, because it isn't a default one. Below, it follows the link: https://www.mql5.com/en/code/145

NRTR
NRTR
  • votes: 20
  • 2010.07.26
  • Dmitry Fedoseev
  • www.mql5.com
The NRTR (Nick Rypock Trailing Reverse) indicator draws the base line (support and resistance) and a target line.
Junqui
18
Junqui  
Hi everybody.......well, my question is ¿why this class have not SCOPE OPERATORS (::)?

I try the Parabolic SAR method but doing the backtest i see "invalid request" response.
12
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