Moving Average Trailing Stop
NB: This EA will not work if you do not have existing trade positions. Positions are to be placed manually and the EA will place the trailing stop.
Moving Average Trailing Stop is an EA that specializes to modify the stop losses of current open positions.
This EA does not open positions but only modifies and manage the take profit, stop loss and closes the positions when user conditions are met.
This EA is helpful to traders who do not spend most of their time on the Market screen. The EA takes the task to manage that for you.
The trailing stop loss level is placed when the market retraces and the previous candle closes below the Moving Average. The "Modify Stop Loss" value of the input parameters is what determines how much the stop loss is away from the low of the candle that is below the Moving Average.
How to Use Moving Average Trailing Stop
The EA is easy and straight forward to use. All you have to do is :
- Allow Auto Trading
- Drag and drop the EA on the chart that corresponds to the open positions
- Set your "Modify Stop Loss" value and the EA will do the rest
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