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
MT4 Trail Stoploss
This MetaTrader 4 expert advisor functions as a trade manager to automate the trailing of stop-loss levels for active positions.
GitHub stars1
Forks0
Last update3 years ago25 Feb 2023
LicenceMIT
Overview
MT4 Trail Stoploss monitors trades matching a specific magic number and symbol, activating only after the profit reaches a predefined pip threshold. Once triggered, the EA adjusts the stop-loss to maintain a fixed distance from the current market price, helping to lock in unrealized gains. The utility handles both long and short positions and features a minimal code structure focused strictly on exit management.
- Pip-based trailing stop activation
- Magic number trade identification
- Automatic stop-loss modification for buy and sell orders
- Configurable trail start and stop distances
Details
Author
puneethdc99 on GitHub
Type
Trade manager
Platform
MetaTrader 4 (MQL4)
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 Stoploss.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
TrailStart | double | 30 | Trail start in pips |
TrailStop | double | 10 | Trail stop in pips |
LotSize | double | 0.01 | Fixed lot size for each trade |
MagicNumber | int | 123 | Unique identifier for trades |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone puneethdc99/MT4_TrailStoploss from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 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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