Using Trailing Stop Loss in MQL4 EA

[anuj71]

Hello,

I am attempting to develop a trailing stop loss feature for my EA. Here is the logic:

1. Obtain the entry price of the open trade.
2. Determine the trailing price: Entry Price + Take Profit.
3. Define the trailing gap as follows: For Buy orders, Bid - Trailing Gap; For Sell orders, Ask + Trailing Gap.
4. Adjust the stop loss of each individual open trade according to the above conditions.

I am not sure what mistake I am making; it is not working as expected.

Note: This post is not a duplicate of https://www.mql5.com/en/forum/462040 . The previous post was to understand the concept of Trailing Stop Loss, while this post is to code the Trailing Stop Loss. Please do not mark this thread as a duplicate.

extern double Trailing = 5.0;
extern double Trailing_TP = 30.0;  //Take Profit
extern int Magic = 1; // Trailing Gap
BuyLimitMagic   = Magic + 1;
SellLimitMagic  = Magic + 11;
BuyStopMagic    = Magic + 111;
SellStopMagic   = Magic + 1111;
   if(Digits == 3 || Digits == 5)
      Pips = 10.0 * Point;
   else
      Pips = Point;
void trailing_buy(int trailingbuy_magic, double& BuyEntryPrices[]) {
    double price_0;
    if (trailingbuy_magic == BuyLimitMagic)
        price_0 = EntryPriceRecentOrder(BuyLimitMagic, BuyEntryPrices);
    else if (trailingbuy_magic == BuyStopMagic)
        price_0 = EntryPriceRecentOrder(BuyStopMagic, BuyEntryPrices);
    for (int pos_8 = OrdersTotal() - 1; pos_8 >= 0; pos_8--) {
        OrderSelect(pos_8, SELECT_BY_POS, MODE_TRADES);
        if (OrderSymbol() == Symbol() && OrderMagicNumber() == trailingbuy_magic) {
            if (OrderType() == OP_BUY) {
                // Find the entry price for the current order
                double entryPrice = BuyEntryPrices[OrderTicket()];
                // Calculate the trailing stop level based on the entry price
                double trailingStopLevel = entryPrice + Pips * Trailing;
                // Check if current Bid is above the trailing stop level
                if (Bid > trailingStopLevel) {
                    // Check if the current stop loss level is less than the new trailing stop level
                    if (OrderStopLoss() < trailingStopLevel) {
                        // Modify the stop loss to the new trailing stop level
                        OrderModify(OrderTicket(), entryPrice, trailingStopLevel, OrderTakeProfit(), 0, Blue);
                        return;
                    }
                }
            }
        }
    }
}
void trailing_sell(int trailingsell_magic, double& SellEntryPrices[]) {
    double price_0;
    if (trailingsell_magic == SellLimitMagic)
        price_0 = EntryPriceRecentOrder(SellLimitMagic, SellEntryPrices);
    else if (trailingsell_magic == SellStopMagic)
        price_0 = EntryPriceRecentOrder(SellStopMagic, SellEntryPrices);
    for (int pos_8 = OrdersTotal() - 1; pos_8 >= 0; pos_8--) {
        OrderSelect(pos_8, SELECT_BY_POS, MODE_TRADES);
        if (OrderSymbol() == Symbol() && OrderMagicNumber() == trailingsell_magic) {
            if (OrderType() == OP_SELL) {
                // Find the entry price for the current order
                double entryPrice = SellEntryPrices[OrderTicket()];
                // Calculate the trailing stop level based on the entry price
                double trailingStopLevel = entryPrice - Pips * Trailing;
                // Check if current Ask is below the trailing stop level
                if (Ask < trailingStopLevel) {
                    // Check if the current stop loss level is greater than the new trailing stop level
                    // Also, check if the current stop loss is not already at 0.0 (uninitialized)
                    if (OrderStopLoss() > trailingStopLevel || OrderStopLoss() == 0.0) {
                        // Modify the stop loss to the new trailing stop level
                        OrderModify(OrderTicket(), entryPrice, trailingStopLevel, OrderTakeProfit(), 0, Red);
                        return;
                    }
                }
            }
        }
    }
}
double EntryPriceRecentOrder(int EntryPriceRecentOrder_magic, double& BuyEntryPrices[], double& SellEntryPrices[]) {
    ArrayResize(BuyEntryPrices, 0);
    ArrayResize(SellEntryPrices, 0);
    for (int i = 0; i < OrdersTotal(); i++) {
        if (OrderSelect(i, SELECT_BY_POS, MODE_TRADES)) {
            if (OrderSymbol() == Symbol() && OrderMagicNumber() == EntryPriceRecentOrder_magic) {
                if (OrderType() == OP_BUY) {
                    ArrayResize(BuyEntryPrices, ArraySize(BuyEntryPrices) + 1);
                    BuyEntryPrices[ArraySize(BuyEntryPrices) - 1] = OrderOpenPrice();
                } else if (OrderType() == OP_SELL) {
                    ArrayResize(SellEntryPrices, ArraySize(SellEntryPrices) + 1);
                    SellEntryPrices[ArraySize(SellEntryPrices) - 1] = OrderOpenPrice();
                }
            }
        }
    }
}

[Michael Charles Schefe]

I recommend searching codebase for Ronz. It already does what you have put in your bullet points.

[anuj71]

Michael Charles Schefe #:
I recommend searching codebase for Ronz. It already does what you have put in your bullet points.

Thanks for the suggestion, I looked into Ronz codebase, it interesting and most of the things i looking for. Between what the issue with my current codes?

[Fernando Carreiro]

@anuj71, please don't misuse the "Complain" link to request removal of your topics. I have cancelled the complaint.

This topic already has other posts, so it will not be removed.

Just continue the discussion here with your new post "with proper explanation and updated code" as per your words in the complaint.