Tracking - MetaTrader 4 Expert - MQL5 #8702 | MT4 EA Download - MetaTrader 4 Resources
Manage all orders in the terminal. If there is no required profit - it waits. Suitable for both manual trading and expert advisors who lack trailing stops.
If the desired profit is reached, a retracement is set. and track it. Retracement is expressed as a percentage. Assume the following parameters are set: Minimum profit = 1000. The percentage is 20. The order reaches a profit of 1000. If the profit drops to 800 - close the order. If the price moves further, say to 2000, the allowed retracement will be 400. That is, the order will be closed when the total profit is 1600. There is no fixed drawdown limit as I don't think using absolute values is useful.
In theory, it is possible to set percentage = 0. It will act as a total take profit. You can set percentage = 100 and it will act as breakeven (don't forget that because some orders are closing, other orders may lose money).
attention! ! The EA works independently of the arrival of quotes (except for the first one). To change parameters in the trading mode, change the chart and/or timeframe, the EA needs to be disabled using the button! Additionally, its status needs to be checked after each compilation.
Attachment download
📎 trailing_profit.mq4 (2.79 KB)
Source: MQL5 #8702
Tracking - MetaTrader 4 Expert - MQL5 #8702 | MT4 EA Download - MetaTrader 4 Resource Usage and Screening Suggestions
This content can be used as a data entry for foreign exchange EA, indicators, trading systems or quantitative strategies. When reading, it is recommended to make a judgment based on the platform version, trading type, time period, risk control method and historical discussion background. Do not use it directly based on the title or a single point of view.
If the content involves MT4/MT5, ForexFactory, MQL source code, TradingView indicators or strategy discussions, you can give priority to the parameter logic, backtest environment, market stage, execution cost and failure conditions, and then decide whether to continue downloading, reviewing or secondary development.
Risk warning
For any EA, indicator or automatic trading strategy, it is recommended to first conduct historical backtesting, simulation account verification and small capital testing. Grid, Martin, high frequency, recovery and examination strategies especially require setting the account risk upper limit, single variety risk upper limit and manual deactivation conditions.
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