Exp_CandleStop_Trailing - MetaTrader 5 Expert - MT4/MT5 Resources

The Expert Advisor moves the Stop Loss Candle Stop indicator of open positions along the established channel boundaries using the established channel boundaries. The stop loss is modified only when the bar changes based on the data of the newly closed bar, to prevent the loss from ending up fixed at the current price.

The Expert Advisor offers the possibility to display the indicators used in it on the current chart directly from the Expert Advisor. No need to manually install indicators on charts. This is very convenient because after installing the Expert Advisor on the chart, the indicator is automatically displayed on the chart. The input parameters of this indicator are always the same as those of the Expert Advisor.

Input parameters of EA trading:

 //+------------------------------------------------------------------------+
//| Input parameters of EA trading |
//+------------------------------------------------------------------------+
Input unit UpTrailPeriods= 5 ; //Search for high point period
Input unit DnTrailPeriods= 5 ; //Search for the period of low points
Input unit deviation = 10 ; //Slip 

Figure 1 Working chart of Exp_CandleStop_Trailing Expert Advisor

Attachment download

📎 candlestop.mq5 (6.62 KB)

📎 exp_candlestop_trailing.mq5 (18.08 KB)

Source: MQL5 #1408