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Interactive Stop Loss

The EA allows a trader to place stop loss invisible for brokers and thereby prevent false breakthroughs and unwanted stop loss triggering. When you use standard stop loss, the price may break through stop loss before moving to the direction of an open order and therefore the orders is closed. Interactive Stop Loss removes standard stop loss of the open order and adds a horizontal line instead. After this it maintains the order until the line is crossed by the price. And then it finally closes the order. The order is close only after a candle is closed beyond the stop loss line, and not after a short term contact as it happens in case of standard stop loss.

The EA can work on all trading instruments at a time and on a current instrument of a chart it has been attached to. The EA can also work with orders using a magic identifier (for example with orders of another EA) or with all orders irrespective of the magic identifier.

Parameters

  • MAGIC - magic number of the EA's orders. Value: -1 - orders with any magic number.
  • slippage - allowed slippage to close orders;
  • interactive - enables interactive stop loss mode.
  • close_mode - mode of closing orders by interactive stop loss. Values: CLOSE - the EA closes the order after the candle is closed beyond the interactive stop loss line, CROSS - orders are closed after the price crosses the interactive stop loss line.
  • sl_name_begin - prefix to name interactive stop loss lines automatically
  • sl_line_color - color interactive stop loss lines.
  • x_btn and y_btn - distance to the upper right corner of the button panel from the beginning of the chart by х and у correspondingly.
  • alert - enable/disable alerts.

How to Trade

After you attach the EA to the chart it will remove stop losses of all orders and adds horizontal lines instead which hereafter will be used for maintaining trades. If you need to return orders to their initial state, press Interactive button at the top of the chart. The EA will return all stop losses to their initial state. If you do not need interactive stop loss when you attach the EA to the chart, set the interactive parameter to false. When you enable Interactive mode, the dealing center knows nothing about your stop losses and that is why possibility of its manipulations is eliminated.

After you enable Interactive mode Set SL button appears on the right side of Interactive button. You can add stop losses which will be unnoticed by the broker clicking this button (see pictures).

By default the EA closes orders only after the price crosses the interactive stop loss line and the candle is closed beyond the interactive stop loss line. But if you need to save standard stop loss and hide your stop losses from the broker, change close_mode parameter from CLOSE to CROSS.

Alerts

Alerts with a sound signal are provided to let the trader know about closing the order in proper time. Alert informs about time of the closed order, its ticket, close price and profit. If the trader wrongly drags the stop loss line on inappropriate level, the EA will correct it and send an alert. If you do not need alerts, you can disable them in settings setting alert parameter to false.

Language of alerts corresponds to the terminal's language settings. For the Russian language alerts are displayed in Russian, for English and other languages - in English.

Testing

Download a demo version if you want to backtest the EA in the strategy tester or using a demo account: https://www.mql5.com/en/market/product/9381.

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PROTECT YOUR FTMO Account in a simplest way Must-Have   Account Protector for any Prop-trading Account and Challenge MT4 / MT5 Expert Advisor that protects your Forex Prop Trading account from an unexpected drawdown! FTMO Protector  is a Tool that lets you manage trades and control your profit and loss across multiple Robots and currency pairs using a simple parameters and settings. Use as many EAs and Instruments you need, the Protector will: 1.   Calculate your midnight (01:00 System time) Bal
The product will copy all  Discord  signal   to MT4   ( which you are member  ) , also it can work as remote copier.  Easy to set up. Work with almost signal formats, support to translate other language to English Work with multi channel, multi MT4. Work with Image signal. Copy order instant, auto detect symbol. Work as remote copier: with signal have ticket number, it will copy exactly via ticket number. How to setup and guide: Let read all details about setup and download Discord To MetaTrade
50% off. Original price: $375 Reward Multiplier is a semi-automatic trade manager based on pyramid trading that opens additional orders with the running profit of your trades to maximize return exponentially without increasing the risk. Unlike other similar EAs, this tool shows potential profit/loss and reward to risk ratio before even entering the first trade! Download Demo here  (starting lot is fixed at 0.01) Guide + tips here MT5 version   here You only open the first order. When your t
The most friendly Copier interactive interface, the most abundant easy-to-use functions, and the best Copy solution.     EASY   : Easy to use, load and select the Master or SLAVE to use easily FAST:   Quickly copy orders, algorithmic optimal follow-up mechanism, priority calculation of new signals, priority queue processing received special signals Multiple:   1. Support multiple signals to be sent at the same time, multiple accounts can select multiple accounts to copy at the same time 2. Mul
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Versão 1.20 2021.06.09
Important changes have been made to the Interactive Stop Loss code.
1. Now different copies of Interactive Stop Loss, on different charts, do not conflict with each other in terms of symbol and magic.
2. Removed the input parameter "symbol". Since the operation of one copy of Interactive Stop Loss on all symbols at once contradicts its concept. Now, each symbol should have its own chart and its own Interactive Stop Loss on it!
3. The design of the buttons of the GUI utility has been changed to a more pleasant one.
Versão 1.10 2020.07.27
Recompiling for a new build