This MetaTrader expert advisor functions as a trade manager that automates stop loss adjustments for existing positions. It specifically waits until a trade reaches a user-defined profit threshold in points before initiating a trailing stop. The tool includes flexible filtering options to manage specific symbols, magic
Trade manager · MT5
AR Fractal Trailing Stoploss
This MetaTrader 5 expert advisor serves as a trade management utility that trails the stop loss of open positions using the Bill Williams Fractals indicator.
GitHub stars4
Forks1
Last update4 years ago29 Jul 2022
LicenceNone stated
Overview
AR Fractal Trailing Stoploss monitors active trades on the current symbol and updates the stop loss to the most recent fractal high for sell positions or fractal low for buy positions. The utility allows for a custom point offset to create a buffer from the candle extreme. It performs checks on every new bar of the selected timeframe to adjust the risk levels dynamically. The provided documentation is minimal.
- Automated fractal-based stop loss trailing
- Configurable point offset for stop levels
- Multi-timeframe fractal calculation support
- Symbol-specific position management
Details
Author
Andrukas8 on GitHub
Type
Platform
Markets
Any symbol
Timeframes
Any timeframe
Risk Profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA Files
Input Parameters
Read from AR_Fractal_Trailing_Stoploss.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
TslOffsetPoints | int | 30 | Points above/below Fractal candle offset |
TimeFrame | ENUM_TIMEFRAMES | 5 | Timeframe |
How to Install It
- 1Download the sourceUse "Download source (.zip)" above, or clone Andrukas8/AR_Fractal_Trailing_Stoploss from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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