Comments on: Trailing Stop in MetaTrader 4

By: admin

admin — Thu, 19 Jan 2012 08:57:12 +0000

I really don’t know if running an infinite loop inside start() function is a good idea.

By: admin

admin — Thu, 19 Jan 2012 08:56:47 +0000

The input parameter “StopLoss” is used to set a fixed stop-loss only once. You should use the input parameter “TrailingStop” if you want it to trail your profit.

By: Rick

Rick — Wed, 18 Jan 2012 23:11:06 +0000

Note that I put your code in my own script that does an infinite loop in the start(). So not sure if something needs to be refreshed or something?

By: Rick

Rick — Wed, 18 Jan 2012 23:09:45 +0000

Does this always keep the SL to the value I set StopLoss to when moving in the profit direction all the time? I have this implemented and it doesn’t look like it is. So if I set the S/L to 10 right when this script starts it does set 10 pips away from current price. But it doesn’t seem to be updating itself as the price moves in the profit direction. I’m looking for something that keep the S/L 10 pips at all times but only when moving in the profit direction. Am I missing something?

By: admin

admin — Wed, 07 Dec 2011 17:04:46 +0000

To stop the trailing stop from moving backwards with the price, you have to check if the stop-loss you are trying to apply is higher (lower for short positions) than the existing one, and call OrderModify() only if it is. To prevent cluttering the post with the code, you can either upload your EA to some file sharing site (like DropBox) and just post the links here, or switch to our EA forum and attach the .mq4 files to your posts directly.

By: Charles

Charles — Wed, 07 Dec 2011 15:54:57 +0000

I meant how can i stop the trailing stop from moving backwards…

By: Charles

Charles — Wed, 07 Dec 2011 15:54:20 +0000

Hi – I think the logic in the above post is right. The only problem is that the trailing stop will move backwards if price moves backwards. How can I stop the price moving backwards? I am trying a few variations with no luck. I won’t post any more code as it clutters the thread however I can send the EA when its finally working right to you to post on your site.

By: Charles

Charles — Mon, 05 Dec 2011 04:59:37 +0000

I prepared an EA on the idea I had above and based on the information you gave to ronnie k regarding different trailing stop levels. I believe this code works however it does give some funny information when its calculating the stop loss. the stop loss appears to be the same as the other currency pairs at times. However eventually it settles on the correct stop loss. The other thing is that if there is a starting stop loss then the trailing stop would calculate from this stop loss (eg 40 pips as below) rather than the price at the initial trade. I am not sure how to stop this. it would be good if you could verify the code as the stop loss seems to move backwards with the price at times as well.

//+------------------------------------------------------------------+
//|                                                    Blueprint.mq4 |
//|                                                 |
//+------------------------------------------------------------------+
extern double InitialTrailingStop = 10;	
extern double trailing_stop_percentage = 20;
extern double SecTrailingStop = 20;
extern double sec_trailing_stop_percentage = 40;
extern double ThirdTrailingStop = 30;
extern double thr_trailing_stop_percentage = 50;
extern double FourthTrailingStop = 40;
extern double fourth_trailing_stop_percentage = 60;
extern double FifthTrailingStop = 60;
extern double fifth_trailing_stop_percentage = 70;
 
// Set it to some value above 0 to activate stop-loss	
extern double StopLoss = 40; 	
 
//+------------------------------------------------------------------+
//| expert initialization function                                   |
//+------------------------------------------------------------------+
int init()
  {
//----
 
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert deinitialization function                                 |
//+------------------------------------------------------------------+
int deinit()
  {
//----
 
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert start function                                            |
//+------------------------------------------------------------------+
int start()
  {double PointValue;
  for (int i = 0; i  0) && (Bid - OrderOpenPrice() >= TSTP))
         { TSTP = NormalizeDouble((Bid - OrderOpenPrice()) * trailing_stop_percentage / 100, Digits);
         { if (OrderStopLoss()  0) && (Bid - OrderOpenPrice() >= TSTP2)) 
          { TSTP2 = NormalizeDouble((Bid - OrderOpenPrice()) * sec_trailing_stop_percentage / 100, Digits); 
          { if (OrderStopLoss()  0) && (Bid - OrderOpenPrice() >= TSTP3))
         { TSTP3 = NormalizeDouble((Bid - OrderOpenPrice()) * thr_trailing_stop_percentage / 100, Digits);
          { if (OrderStopLoss()  0) && (Bid - OrderOpenPrice() >= TSTP4))
         { TSTP4 = NormalizeDouble((Bid - OrderOpenPrice()) * fourth_trailing_stop_percentage / 100, Digits);
          { if (OrderStopLoss()  0) &&  (Bid - OrderOpenPrice() >= TSTP5))
          { TSTP5 = NormalizeDouble((Bid - OrderOpenPrice()) * fifth_trailing_stop_percentage / 100, Digits);
          { if (OrderStopLoss()  0) && (OrderOpenPrice() - Ask >= TSTP))
         { TSTP = NormalizeDouble((OrderOpenPrice() - Ask) * trailing_stop_percentage / 100, Digits);
         { if ((OrderStopLoss() > (Ask + InitialTrailingStop * PointValue)) || (OrderStopLoss() == 0))
         {OrderModify(OrderTicket(), OrderOpenPrice(), Ask + TSTP, OrderTakeProfit(), Red);
       }
       }
       }
 
         if ((sec_trailing_stop_percentage > 0) && (OrderOpenPrice() - Ask >= TSTP2))
         { TSTP2 = NormalizeDouble((OrderOpenPrice() - Ask) * sec_trailing_stop_percentage / 100, Digits);
         { if ((OrderStopLoss() > (Ask + SecTrailingStop * PointValue)) || (OrderStopLoss() == 0))
         { OrderModify(OrderTicket(), OrderOpenPrice(), Ask + TSTP2, OrderTakeProfit(), Red);
       }
       }
       }
 
 
      if ((thr_trailing_stop_percentage > 0) && (OrderOpenPrice() - Ask >= TSTP3))
         { TSTP3 = NormalizeDouble((OrderOpenPrice() - Ask) * thr_trailing_stop_percentage / 100, Digits);
         { if ((OrderStopLoss() > (Ask + ThirdTrailingStop * PointValue)) || (OrderStopLoss() == 0))
         { OrderModify(OrderTicket(), OrderOpenPrice(), Ask + TSTP3, OrderTakeProfit(), Red);
        }
        }
        }
 
    { if ((fourth_trailing_stop_percentage > 0) && (OrderOpenPrice() - Ask >= TSTP4))
         { TSTP4 = NormalizeDouble((OrderOpenPrice() - Ask) * fourth_trailing_stop_percentage / 100, Digits);
         { if ((OrderStopLoss() > (Ask + FourthTrailingStop * PointValue)) || (OrderStopLoss() == 0))
         { OrderModify(OrderTicket(), OrderOpenPrice(), Ask + TSTP4, OrderTakeProfit(), Red);     
        }
        }
        }
        } 
     if ((fifth_trailing_stop_percentage > 0) && (OrderOpenPrice() - Ask >= TSTP3))
         { TSTP4 = NormalizeDouble((OrderOpenPrice() - Ask) * fifth_trailing_stop_percentage / 100, Digits);
         { if ((OrderStopLoss() > (Ask + FifthTrailingStop * PointValue)) || (OrderStopLoss() == 0))
         { OrderModify(OrderTicket(), OrderOpenPrice(), Ask + TSTP5, OrderTakeProfit(), Red);
        }
 
        }
        }
 
       else if ((OrderStopLoss() != Ask + StopLoss * PointValue) && (StopLoss != 0))
            OrderModify(OrderTicket(), OrderOpenPrice(), Ask + StopLoss * PointValue, OrderTakeProfit(), Red);
 }
}
 
//----
 
//----
   return(0);
}
//+------------------------------------------------------------------

By: Charles

Charles — Sun, 04 Dec 2011 02:45:31 +0000

I’m going to try and program a percentage trailing stop with different trail stop levels.
Eg – 20% @ 10 pips
40% @ 30 pips
50% @ 60 pips

etc

By: Charles

Charles — Sun, 04 Dec 2011 02:43:35 +0000

This is the trailing stop % EA I got working.

extern double TrailingStop = 8;	
extern double trailing_stop_percentage = 20;
// Set it to some value above 0 to activate stop-loss	
extern double StopLoss = 0; 	
 
//+------------------------------------------------------------------+
//| expert initialization function                                   |
//+------------------------------------------------------------------+
int init()
  {
//----
 
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert deinitialization function                                 |
//+------------------------------------------------------------------+
int deinit()
  {
//----
 
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert start function                                            |
//+------------------------------------------------------------------+
int start()
  {double PointValue;
  for (int i = 0; i  0) && (Bid - OrderOpenPrice() >= TSTP))
         { TSTP = NormalizeDouble((Bid - OrderOpenPrice()) * trailing_stop_percentage / 100, Digits);
         {
            if (OrderStopLoss()  0) && (OrderOpenPrice() - Ask >= TSTP))
         { TSTP = NormalizeDouble((OrderOpenPrice() - Ask) * trailing_stop_percentage / 100, Digits);
         {
            if ((OrderStopLoss() > (Ask + TrailingStop * PointValue)) || (OrderStopLoss() == 0))
            {
               OrderModify(OrderTicket(), OrderOpenPrice(), Ask + TSTP, OrderTakeProfit(), Red);
            }
         }
        } else if ((OrderStopLoss() != Ask + StopLoss * PointValue) && (StopLoss != 0))
            OrderModify(OrderTicket(), OrderOpenPrice(), Ask + StopLoss * PointValue, OrderTakeProfit(), Red);
      }
	}
 
 
//----
 
//----
   return(0);
  }
//+------------------------------------------------------------------