Breakeven Trailing SL Manager
- Utilities
-
Hafiz Muhammad Usama Sadique
Welcome to my official MQL5 developer profile. - Version: 1.0
- Activations: 5
Breakeven Trailing SL Manager;
This utility Manager is a simple utility that protects your manual trades automatically. Attach it to any chart and it watches all manual positions on your account, on every symbol. It does not open trades and it ignores trades opened by other Expert Advisors.
How it works
When a trade moves in profit by the Breakeven Price, the Stop Loss is moved to the exact entry price.
When the price moves the same distance again, the Stop Loss is moved to entry plus that distance, locking in profit.
If Trailing is enabled, the Stop Loss keeps following the price in steps of the same distance until it is hit.
It works for both Buy and Sell trades. The Stop Loss is only ever moved in your favor, and Take Profit is never changed.
Inputs
Breakeven Price: price distance used for breakeven and for each step (default 0.1)
Trailing: enable or disable step trailing (default false)
Notes
The Breakeven Price is a price distance, not account currency. For example, 0.1 on XAUUSD means a 0.1 price move.
If the broker rejects a Stop Loss change because of stops level or freeze level, the EA waits and retries when the price allows.
Algo Trading must be enabled in the terminal.
Works on hedging and netting accounts.
