Envelopes Trailing Stop
The Envelopes Trailing Stop is a tool that implements trailing of the stop loss order after the price based on the Envelopes trend indicator.
The utility provides all the necessary parameters for customization, which allows to select the optimal configuration for any user.
The EA allows to choose the trailing line depending on the type of the trade. For example, buy trades can be trailed based on the lower line of the indicator, and sell trades can be trailed based on the upper line.
The Magic parameter allows to simultaneously work with other experts on the account.
In the normal operation mode, the EA does not trade on its own, but it can be tested in the Strategy Tester. When run in the tester, the demonstration mode is activated, and trades are generated randomly. This allows to evaluate the tool and to choose the best settings.
- Magic - magic number: 0 - trailing of all trades, 1>= - trailing of trades with the specified Magic;
- Stop Level - stop level;
- Slippage - slippage;
- Tester SL - stop loss of trades in the tester;
- Tester TP - take profit of trades in the tester;
- ENVELOPES SETTINGS - settings of trailing based on the Envelopes indicator;
- Use Envelopes Trailing - use trailing based n the Envelopes indicator;
- Envelopes Timeframe - timeframe of the indicator;
- Envelopes Period - period of the indicator;
- Envelopes Type - method of the indicator;;
- Envelopes Applied Price - applied price;
- Envelopes Buy Line - line for trailing buy trades;
- Envelopes Sell Line - line for trailing sell trades;
- Envelopes Deviation - deviation of the indicator;
- Envelopes Shift - shift of the indicator;
- Envelopes Symbol - trading instrument: CurrentSymbol - current instrument, AllSymbols - all instruments.