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 · MT4 · MT5
Fractals Trailing Stop
This expert advisor is a utility for MetaTrader 4 and MetaTrader 5 designed to manage stop-loss levels for existing trades.
GitHub stars15
Forks3
Last update1 year ago30 Oct 2024
LicenceApache-2.0
Latest release1.041 year ago
Overview
Fractals Trailing Stop utilizes Bill Williams' Fractals indicator to dynamically adjust the stop loss as new fractal points form on the chart. Users can configure the number of bars to scan and specify which fractal occurrence to use for the exit level. The tool includes filtering options for magic numbers, comments, and trade types, alongside notification features and a graphical user interface for manual control.
- Automated fractal-based trailing stop
- Magic number and trade comment filtering
- On-chart graphical control panel
- Configurable profit threshold for trailing activation
Details
Author
EarnForex on GitHub
Type
Trade manager
Platform
MetaTrader 4 (MQL4) and MetaTrader 5 (MQL5)
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
Topics
expert-advisorforexfractalsmetatradermetatrader4metatrader5mql4mql5mt4mt5
Input parameters
Read from MQLTA MT5 Fractals Trailing Stop.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Comment_1 | string | ==================== | Expert Advisor Settings |
BarsToScan | int | 10 | Bars To Scan (10=Last Ten Candles) |
FractalToUse | int | 1 | Fractal Number to Use (1 = First, 2 = Second, ...) |
ProfitPoints | int | 0 | Profit Points to Start Trailing (0 = ignore profit) |
Comment_2 | string | ==================== | Orders Filtering Options |
OnlyCurrentSymbol | bool | true | Apply To Current Symbol Only |
OnlyType | ENUM_CONSIDER | All | Apply To |
UseMagic | bool | false | Filter By Magic Number |
MagicNumber | int | 0 | Magic Number (if above is true) |
UseComment | bool | false | Filter By Comment |
CommentFilter | string | | Comment (if above is true) |
EnableTrailingParam | bool | false | Enable Trailing Stop |
Show all 22 inputs
| Name | Type | Default | Description |
|---|---|---|---|
Comment_3 | string | ==================== | Notification Options |
EnableNotify | bool | false | Enable Notifications feature |
SendAlert | bool | true | Send Alert Notification |
SendApp | bool | false | Send Notification to Mobile |
SendEmail | bool | false | Send Notification via Email |
Comment_3a | string | ==================== | Graphical Window |
ShowPanel | bool | true | Show Graphical Panel |
ExpertName | string | MQLTA-FRTS | Expert Name (to name the objects) |
Xoff | int | 20 | Horizontal spacing for the control panel |
Yoff | int | 20 | Vertical spacing for the control panel |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone EarnForex/Fractals-Trailing-Stop from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts or MQL5/Experts.
- 3Copy the filesCopy the .mq4 / .mq5 file into Experts, and any .mqh files into the Include folder the code expects.
- 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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