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A trailing stop is a tool that helps many Forex traders to protect their profits and limit their losses. With the Supertrend Trailing Stop MT4 EA, you can have your trades' stop-loss levels follow the famous Supertrend indicator line.
Supertrend Trailing Stop MT4 EA is an expert advisor that can manage stop-loss of your orders.
In particular, this expert advisor can use the Supertrend line for stop trailing purposes.
Supertrend is a popular indicator among traders — it is based on a mix of price averaging and ATR.
Other than being a good source of entry and exit signals, Supertrend indicator is remarkable for stop-loss allocation as well.
Trailing a stop-loss to te Supertrend line can be a good strategy to let the trend's profit run.
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 Supertrend Trailing Stop MT4 EA, the stop-loss follows the Supertrend Line.
There are several advantages of using MT4 Supertrend Trailing Stop expert advisor:
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.
➥ Download MQLTA MT4 Supertrend Trailing Stop
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.