Trail Stops PRO
Trailing Stops Pro is a highly advanced trailing stop program. It comes with 12 different trailing stops and helps you to manage your trade and stops easily. You can specify a trail start, that means the trailing stop will be started after your positions has reached the selected profit points. Additionally you can set a trail distance as well as activate and deactivate the trailing stop for each position separately. For your convenience the program has a very easy to use app panel.
For a detailed description and user guide take a look here: https://www.mql5.com/en/blogs/post/745850
Included Trailing Stops
This is the normal MetaTrader trail. The stop loss will be trailed with a fixed distance to the market price
- BAR LH1
Sets the stop loss below the previous bar or candle low on BUY positions or above the previous bar high on SELL positions. Additionally you can add a distance. I.e. you have an open BUY position on EURUSD. The previous candle low is 1.18100 and your distance is set to 10 points (100 pips). This means your trailing stop will be set to 1.18000. This trailing method is very useful for breakouts and small timeframe news trading.
- BAR LH3
Identical to BAR LH1 but the stop loss will be set in relation to the third last candle.
- BAR LH5
Identical to BAR LH1 but the stop loss will be set in relation to the fifth last candle.
- Tick 6
This trailing stop builds a moving average based on the last 6 raw ticks. This trailing method is ideal for scalping and fast moving markets. It's the mixture of being tight to the market but not getting stopped out too early like it often happens with the straight trail. An additional trailing distance can be specified.
- Tick 12
Identical to Tick 6 but the moving average is based on the last 12 raw ticks.
- Tick 20
Identical to Tick 6 but the moving average is based on the last 20 raw ticks.
Trails the stop loss below the last low (on BUY positions) or last high (on SELL positions) created by an outside bar. This trailing method is very useful for trends or ranges. An additional trailing distance can be specified.
Set the stop loss below the last trend low on BUY positions or above the last trend high for SELL positions. As we all know "the trend is your friend" this trailing stop is ideal for trends. Additional trailing distance can be specified.
Sets the stop loss based on the Supertrend indicator. Supertrend settings like period and multiplier can be set on the Trail Stop PRO properties (see below). Additional trailing distance can be specified.
Sets the stop loss based on a Exponential Moving Average. EMA settings like period and shift can be set on the Trail Stop PRO properties (see below). Additional trailing distance can be specified.
Sets the stop loss based on Simple Moving Average. SMA settings like period and shift can be set on the Trail Stop PRO properties (see below). Additional trailing distance can be specified.
If you want to see chart indications for outside bars, trend or supertrend just search the market for "ToolBox 360".
Trail Stops PRO Properties
- Dark interface: Sets the app panel to a dark or bright color
- Panel scale: Panel scale in percent
- Trail line start color: Set the color of the trail start line
- Debug messages: Prints out debug messages and helps to find errors
- Supertrend settings: Period and multiplier settings for Supertrend.
- EMA / SMA settings: Period and shift settings for EMA / SMA
- Tester settings: See remarks below
Unfortunately the MT5 tester has some limitation. You cannot open any positions manually and the app panel won't work. Those limitations do not apply for demo or live accounts! To use the program inside the tester some settings have to be specified:
Open position: A position will be opened in the selected direction on the first tick. Of course this won't apply for demo or live accounts
Trail start: Start trail after the position is the specified points in profit
Trail distance: Trail distance in points/pips
Trailing type: Set the trailing type (see above for available trailing types)
Like for any other EA, you have to activate Algo-Trading in order to use the program