BreakEven&TrailingStop - MetaTrader 4 Library - MT4/MT5 Resources
This library has two functions: BreakEven and TrailingStop.
BreakEven: This is a function that makes StopLoss==OrderOpenPrice( ) when the condition is met: the difference between price and OrderOpenPrice is greater than BreakEven (defined as input variable).
TrailingStop: This is a function that makes StopLoss follow the price by a certain number of points (defined as the input variable (TrailingStop)), provided that the price moves in the right way and the difference between the price and OrderOpenPrice is greater than TrailingStop.
Attachment download
📎 breakeven_5_trailingstop.mq4 (2.92 KB)
Source: MQL5 #15301
BreakEven&TrailingStop - MetaTrader 4 Library - MT4/MT5 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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