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Re: MT4 Trading Utilities, Chart Tools & Add-ons

bilbao, Fri Mar 27, 2020 7:50 pm

EA Trade protector

this trailing stop is a bit different because it is based on a concept called proportional trailing stop.
what it does is setup a % ratio of pips to be protected by a trailing stop depending on how well the trend moves.
When you set the % ration, the expert advisor will move the stop loss to “x %” of the distance between the current market price and the price where the order was activated/executed.
Here’s the formula for Proportional Stop Loss=|Current Price-OrderOpen Price|x Ratio-Spread.
Parameters Explained:

logging=1 means that if you want logs in the expert\files directory, 0 if you do not want that.
nTrailingStop=35 means that 35 pips for initial trailing stop until the trade reaches:profit=nPropSLThreshold.

nPropSLThreshold=12 means that 12 pips after reaching this the profit proportional trailing stop will be activated.
dPropSLThreshold=0.35 This is the multiplying factor and calculated by :(PropSL=Profit*dPropSLRatio-Spread)
nUseEscape=0. 1 or 0 escape misplaced trades as soon as they reach some minimal profit.
nEscapeLevel=0. This is the loss size in pips you want your trade to be terminated as soon as it will reach the next high.
nEscapeTP=35. This is the take profit level in pips. If you set this to a negative number then it will be a trading loss that you have determined and are willing to risk.
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