Trailing stop is a very popular technique in Forex trading. With the High/Low Trailing Stop MT4 expert advisor, you can have your orders' stop-loss assigned to a recent High or Low automatically.
MT4 High/Low Trailing Stop EA is an expert advisor that can manage stop-loss of your orders in automatic mode.
In particular, this expert advisor can use the recent Highs and Lows to set the stop-loss for your orders.
Recent Highs and Lows can be important levels of support or resistance and can act as good values for stop-loss.
Trailing a stop-loss to a recent High or Low can be a good strategy in some situations.
Risk management is one of the most important aspect in trading. Having a stop-loss will protect you from margin calls and big losses.
In many cases, it is useful to have a trailing stop, which is a "moving stop". A trailing stop is a stop-loss where the value is updated when the price moves in the favor of the trade.
There are many types of trailing stop — it can be a fixed step change or it can follow some indicator.
In the case of MT4 High/Low Trailing Stop expert advisor. the stop-loss follows the value of recent Highs or Lows.
There are several advantages in using MT4 High/Low Trailing Stop EA:
This expert advisor supports the following input parameters to be configured by the trader:
You can download the expert advisor using the link below and install it by following the presented instructions.
The installation is very easy to perform; the same is the use. Once you run the expert advisor, you can set all the necessary input parameters.
Make sure you enable Live Trading in the Common tab when attaching the EA and also in the platform's menu Tools→Options→Expert Advisors. Otherwise, it won't be able to modify orders.
To install the EA, please follow the instructions below:
Or you can read a more detailed instruction on how to perform the installation.
You can open a trading account with any of the MT4 Forex brokers to freely use the presented here expert advisor for MetaTrader 4.