Ultimate Trailing Stop EA
This EA Utility allows you to manage (with advanced filtering) unlimited open orders (manual or EA) with trailing stops based on 12 methods: fixed, percent, ATR Exit, Chandelier Exit, Moving Average, Candle High Low Exit, Bollinger Bands, Parabolic, Envelope, Fractal, Ichimoku Kijun-San, and Alligator. The trailing stop can be either real or virtual, and you can exit fully or with a partial close percent on touch or bar close. Visualize all orders and their trailing stop levels in a sophisticated on-screen display.
Try the free version for AUDJPY, USDJPY, USDCAD, NZDUSD.
Note: EA can be run with the visual backtester to simulate trading to see how it looks and feels before purchase or for testing trade ideas.
For a more detailed description, check out the blog.
How the Ultimate Trailing Stop EA is unique?
Most trailing stops are classified as simple trailing stop systems that protect a fixed pip or percentage of the open trade profit, and some follow a single indicator. But this utility can:
- Automatically trail your open positions using one of twelve trailing algorithms.
- Choose between a real or virtual trailing stop, and get out fully or partial percent, on bar touch or bar close.
- Manage unlimited open orders (manual or EA) of different symbols on one chart.
- Filter open orders based on symbol, magic number, comment, or ticket.
- Display all controlled orders in an advanced display showing each trade's open trade info and trailing stop levels, along with dynamically updating pips to level, pips & dollar profit.
- [NEW] Visualize indicators on chart, along with open order arrows, pip & profit visual tracking. Click on any controlled symbol in dashboard to switch to that symbol's chart.
- [NEW] Visualize trailing SL (and open price & TP) on chart, and deploy trade panel for fast partial closing and order info.
How this expert advisor works
The working process looks like this:
You open any number of orders, manually or using EAs.
UTS EA monitors these orders and moves the SL value in favor of selected algorithm.
UTS EA closes all or part of the position at SL value.
Ultimate Trailing Stop EA Inputs:
Trailing Stop Method — Choose from 12 different trailing stop algorithms.
Stop Loss Type — Choose between Real or Virtual Stop.
Touch or Close — Close on touch (default), or when Bar closes over(under) virtual stop. Close method works only when virtual stop is enabled.
Close Percent — Works with virtual to partially close your position at a desired percent.
Threshold in pips — Start trailing stop when your trade reaches X pips in profit.
Pip Step — Indicates how much instrument needs to move before your trailing stop re-adjusts.
Trailing Time Frame — Adjust any of the 10 indicator-based trailing stops to a particular time frame.
SL Adjustment in Pips — Adjust the trailing stop up or down in pips from whatever method you determine. Positive values push the trail stop further away in pips and negative values pull it closer in.
StopLoss Pips - Set the SL in pips for controlled trades which do not already have a SL.
TakeProfit Pips - Set the TP in pips for controlled trades which do not already have a TP.
Indicator Settings :
- Percent — trails at percent profit
- Fixed — trails at a fixed pip profit
- ATR Exit — trails at close +/- multiple of atr
- Moving Average — trails at moving average line
- Chandelier Exit — trails at highest high / lowest low +/- multiple of atr
- Candle High Low Exit — trails at the highest / lowest candle range
- Bollinger Bands— trails at Bollinger Bands
- Parabolic SAR— trails at Parabolic SAR levels
- Envelope — trails at Envelope Bands
- Ichimoku Kijun-Sen — trails at the the Ichimoku Kijun-Sen (Blue) line
- Alligator — trails at the jaw, teeth or lips of the Alligator indicator
Filter (Symbol, Magic Number, Comment, Ticket) — With dropdown menu: None, Equal, Not Equal, Contain, Not Contain. These filters allow you to include (exclude) specific symbols, magic numbers, comments, tickets or parts of them. For example, if Symbol contains USD, you will trade all USD based symbols. If Magic Number equals 80260, 40260, you will manage only these magic numbers.
- added ability of Pips to move to BE to account for commission
- added Breakeven Adjustment in pips to allow for a custom +/- of pips to add to/subtract from BE.
- provided a fix for UTS zoom. UTS should now work with different zoom levels and higher resolutions and proportional changes when font size is changed.
- added the ability for ATR Exit, Chandelier Exit, and Candle High Low Exit to work with Channel Mode (SL lines on both sides of price) or Trend Mode (SL lines in direction of trend).
- added Active in Profit option. If Active in Profit=true, then it moves the trailing stop above breakeven only when position is profitable.
- added 2 modes of partial take profit:
MODE Pips: Pips based partial 3 levels deep
MODE Percent: Percent of existing take profit 3 levels deep
- any selections of the above partial take profits will be drawn on chart as horizontal lines with labels, ticket and magic: Example: VTP1(20 pips, 50%), #16599976, M:999
- added option to make existing TP into partial TP1.
- added visual support for the ATR and Candle trailing stop methods when applying the template (Apply Indicator Template = true). In order for the template to work on ATR method, the indicator ATR-Exit needs to be installed on your MT4; in order to work on Candle method, the indicator Candle-High-Low-Exit needs to be installed.
Apply indicator template = false // true applies the indicator trailing stop method to chart.
For example, if using MA method, then you will see the MA on chart adjusted to the parameters you have defined.
- changed the look and feel of dashboard to make it more interactive and beautiful
- added symbol switcher: clicking on dashboard symbol switches chart symbol
- added the option to move dashboard to different corners of the screen
- added the possibility of hiding the comment and magic number columns
- dashboard grid can be reordered by any column
major upgrade in charting objects:
- added the visualization of trailing indicators on chart
- added open order Pip/Profit visual tracking on chart
- added trade management panel to open order, for fast partial closing
- added visualization of (trailing) stop loss, take profit and open price with distance in Pips/Profit to reach the lines
- added pips to breakeven
added additional controls to test EA in StrategyTester