CandleStop - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Real author:
Indicator for tracking stop loss in Expert Advisor trading. There are separate input parameters for setting the upper and lower boundaries of the channel:
Input unit UpTrailPeriods= 5 ; //Search for high point period Input unit DnTrailPeriods= 5 ; //Search for the period of low points
The indicator was first implemented in MQL4 and published in the code base of mql4.com on October 28, 2007.
Figure 1 CandleStop indicator
Attachment download
📎 candlestop.mq5 (6.62 KB)
Source: MQL5 #1407
CandleStop - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
CandleStop - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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