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
Rodorush Trailing Stop
This MetaTrader 5 utility manages open positions by applying a trailing stop based on the Parabolic SAR indicator.
GitHub stars1
Forks0
Last update3 years ago1 Jul 2023
LicenceMIT
Overview
The Expert Advisor does not open new trades; it monitors an active position and incrementally adjusts the stop loss price according to the indicator's step and maximum parameters. It features a session timer that defines specific operating hours, automatically closing open positions when the time limit is reached. The program is designed to manage one position at a time and removes itself from the chart if no active trade is found.
- Parabolic SAR trailing stop logic
- Time-restricted trading sessions
- Automatic position closure at session end
- Self-removing execution after trade completion
Details
Author
Rodorush on GitHub
Type
Trade manager
Platform
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
Input parameters
Read from Rodorush Trailing Stop EA.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
step | double | 0.02 | Passo |
maximum | double | 0.2 | Máximo |
startHour | int | 9 | Hora de início dos trades |
startMinutes | int | 00 | Minutos de início dos trades |
stopHour | int | 17 | Hora de interrupção dos trades |
stopMinutes | int | 50 | Minutos de interrupção dos trades |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone Rodorush/TrailingStopEA 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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