Timed Trailing Stop Loss
- Utilitaires
- Version: 1.0
- Activations: 5
-
Initial Stop Loss Setup:
- Automatically applies an initial stop loss (in points) immediately when a trade is opened.
- Provides peace of mind by ensuring every trade is protected against unfavorable price movements.
-
Dynamic Trailing Stop:
- Adjusts the stop loss at the close of each candle based on a fixed point distance.
- Moves the stop loss incrementally closer to the current price, locking in profits as the market moves in your favor.
-
Works Across All Timeframes:
- The EA adapts to any chart timeframe, whether you're trading on the 1-minute or daily chart.
- Trailing adjustments occur in sync with the candle closures of the active chart.
-
Completely Hands-Free:
- Once set up, the EA handles all stop-loss adjustments automatically, allowing traders to focus on strategy development and analysis.
-
Customizable Settings:
- Input parameters for setting:
- Initial Stop Loss: Specify how far the stop loss is placed when the trade is opened.
- Trailing Stop Points: Define the fixed distance the stop loss adjusts at each candle close.
- Input parameters for setting:
-
Optimized for Precision:
- Ensures the trailing stop continues to adjust beyond the trade’s open price, capturing maximum profits in trending markets.
How It Works
-
Trade Opening:
- The EA detects when a new trade is opened and immediately sets an initial stop loss based on the user-defined value (e.g., 650 points).
-
Candle Close Detection:
- At the close of every candle, the EA recalculates and adjusts the stop loss:
- Buy Trades: Moves the stop loss higher by the trailing distance (e.g., 150 points).
- Sell Trades: Moves the stop loss lower by the trailing distance (e.g., 150 points).
- At the close of every candle, the EA recalculates and adjusts the stop loss:
-
Trailing Stop Logic:
- The stop loss will continue to adjust incrementally, locking in profits as the market moves favorably, even surpassing the trade’s opening price.
-
Trade Closure:
- If the price hits the dynamically adjusted stop loss, the trade is closed automatically, securing profits or minimizing losses
- Technical Details
-
Technical Details
- Platform: MetaTrader 4 (MT4)
- Input Parameters:
- InitialStopLoss (default: 650 points): Sets the initial stop loss when the trade is opened.
- TrailingStopPoints (default: 150 points): Defines the trailing stop distance per candle close.
