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

202
BreakEven Expert
this expert advisor is pretty good…what it does is sets the stop loss to breakeven when “x” amount of pips in profit is achieved.
In the figure above, note that “Breakeven=30” simple means that this expert advisor will move your stop loss to breakeven once 30 pips profit has been achieved.
These users thanked the author bilbao for the post (total 2):
Ricstar_8, Jedidiah
what we want: 1+1+1+1+1+1+1+1+1=9 <3
what market delivers: 1+2+8+7-4+0-5+8-4-5+1=9 :problem:

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

203
Trailing Stop EA

works on one chart at a time therefore if you have trades open in different charts, you need to upload to each chart
creates automatic trailing stop for all trades that are open or will be opened in the future.
Parameters:

AllPositions-trailing stop is used for all positions
Profit Trailing-if “true”, it activates trailing stop as soon as your trade starts making profits and protect(locks in your profits) and if “false”, trailing stop is activated as soon as a new position is opened.
TrailingStop-this tells you the size of the trailing stop in pips
TrailingStep-this is hte step of the trailing stop
UseSound-option to use sounds or not.
NameFileSound-the name of the sould file
what we want: 1+1+1+1+1+1+1+1+1=9 <3
what market delivers: 1+2+8+7-4+0-5+8-4-5+1=9 :problem:

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

204
Swiss Army EA
if you want to apply breakevens, trailing stops, setting and removing take profits and stop losses and variety of conditions for closing trades, this expert advisor is suitable for that.
this expert advisor will print to the screen what it allowed to do which helps you figure out what it does.
you also need to spend a bit more time to to really learn how to use it.
what we want: 1+1+1+1+1+1+1+1+1=9 <3
what market delivers: 1+2+8+7-4+0-5+8-4-5+1=9 :problem:

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

205
this expert advisor sets really tight stop loss order and trailing stops

you may have an issue using this expert advisor with some forex brokers
Parameters:


If you set “UseTightStop” to true, it will setup a trailing stop
“TrailingAct” is the number of pips you set to start the trailing stop starts to trail. Example, if you want the trailing stop to activate when the trade is in 15 pips of profit then set TrailingAct to 15.
“TrailingStep” is the amount in pips you want to trailing stop to trail by.
what we want: 1+1+1+1+1+1+1+1+1=9 <3
what market delivers: 1+2+8+7-4+0-5+8-4-5+1=9 :problem:


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

206
TrailingStop

this trailing stop ea modifies trailing stop loss on all open trades that are in profit on the current account and the charts where it is attached to.
it also closes all trades and can also take specified profits when the entire trading account is in profit.
For parameter, have a look at its intruction manual
These users thanked the author bilbao for the post (total 2):
mosiskv, Jedidiah
what we want: 1+1+1+1+1+1+1+1+1=9 <3
what market delivers: 1+2+8+7-4+0-5+8-4-5+1=9 :problem:

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

207
EMA Trailing Stop
how thsi trailing stop ea works is by using a trailing stop based on exponential moving average.
so you set the “EMA Period” to 13 means that it will use the 13 EMA to trail stop your trades.
If you set “TrailAllSymbols” to “true”, it will trail all the currency pairs, not just the pair it is attached to on the chart.
“CloseWhenProfit”…you set this parameter to start trailing the sum of all profits gained from all open trades so when it reaches a value you’ve set, all the trades will be closed.
If you set “TrailOnlyInProfit” to “true” then it will activate a trailing stop on only those trades that are in profit. If “false” it will trail all the trades.
“EMAShift” simple means the bar of the EMA that is used as a trailing stop. If set to zero (0), it will do it on ever ema bar tick.
With “magicNumber.from” and “magicNumbe.to you” controls which numbers should it trail. Magic number 0 are usually for manual trades which means if you decide to put 0, this ea will monitor and trail manual trades along with chosen magic numbers.
These users thanked the author bilbao for the post (total 2):
mosiskv, Chickenspicy
what we want: 1+1+1+1+1+1+1+1+1=9 <3
what market delivers: 1+2+8+7-4+0-5+8-4-5+1=9 :problem:

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

208
EA trailing With Partial Close

if you want a trailing stop forex expert advisor that closes partial positions when each target is reached then this is the one.
there are 6 different types of trailing stops you can apply here.
Best option is to download it and play around with it on a demo trading account and figure it out because there’s quite a lot of parameters to it.
These users thanked the author bilbao for the post:
mosiskv
what we want: 1+1+1+1+1+1+1+1+1=9 <3
what market delivers: 1+2+8+7-4+0-5+8-4-5+1=9 :problem:

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

209
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.
These users thanked the author bilbao for the post:
Kiwi
what we want: 1+1+1+1+1+1+1+1+1=9 <3
what market delivers: 1+2+8+7-4+0-5+8-4-5+1=9 :problem:


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