Total Equity trailing stop EA for MT4 | Forex Factory

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Total Equity trailing stop EA for MT4

  • #1
  • First Post: Feb 4, 2010 7:11am Feb 4, 2010 7:11am
Hello,
Does anybody know of an EA for MT4 that monitors the account equity and closes all trades if the equity drops a specified percentage from the account high? But also importantly if the stop is hit the EA will close all trades and then disable all EAs so that no further trades can be entered until EA trading is re-enabled.
I have had a search round on the forum but I didn't find anything.
Thanks.
  • #2
  • Feb 4, 2010 9:00am Feb 4, 2010 9:00am
Quoting matthew11
then disable all EAs so that no further trades can be entered
AFAIK there is no way to influence (disable) other EAs from within an EA. You can close any trades but not tell other EAs to stop opening new ones. (AFAIK means i could be wrong)

A solution would be to set a global variable by your stoploss-EA and have all your other EAs modified to check this variable before any trade.

Another more rigorous solution would be to make the stoploss EA completely shut down the metatrader application via Windows-API after it has successfully closed all open trades and successfully deleted all pending orders.
  • #3
  • Feb 4, 2010 10:13am Feb 4, 2010 10:13am
Hello 7bit,
Thank you very much for your comprehensive answer. I feared there wouldn't be an easy solution.
Matthew
  • #4
  • Feb 4, 2010 11:59am Feb 4, 2010 11:59am
Quoting 7bit
Another more rigorous solution would be to make the stoploss EA completely shut down the metatrader application via Windows-API after it has successfully closed all open trades and successfully deleted all pending orders.
Hello 7bit..
though i haven't searched around yet... if that's not very detailed
Can you explain it with some code, that can be added to such stoploss Ea's?
This aspect is VERY important for people who can't visually manage their EA's all time.
Thanks in advance
Regards
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #5
  • Feb 4, 2010 12:27pm Feb 4, 2010 12:27pm
hey mathew.... the equity trailing stoploss is an easy code.... only slightly more difficult than the typical trailing stop.....

it sounds like the use of global variables, as 7bit mentioned, is what would best suit your needs..... it would only involve a few lines of code......


//-----
all that aside,

yes, a single ea can control other ea's... the influence could be something as simple as prohibiting futher trades from the trade producing ea's .....

or it could change any or all working parameters of the other ea's..... such as lot size, profittargets, stoploss , pairs to trade , and on and on.....

the single ea does not have to be on the same computer as the trade producing ea's...... this is helpful if you leave ea's running on computers at other locations..... such as if your at work, you can control the ea's at home or some other location..... or vice versa....

this sort of ea will not be found on the net......h
to trade and code, keep both simple... no call to impress....h
  • #6
  • Feb 4, 2010 1:56pm Feb 4, 2010 1:56pm
Quoting 7bit
AFAIK there is no way to influence (disable) other EAs from within an EA. You can close any trades but not tell other EAs to stop opening new ones. (AFAIK means i could be wrong)
How about globals? Sorry, I guess I have globals on the brain. But, I guess it is possible if you modified each EA.

Quote
A solution would be to set a global variable by your stoploss-EA and have all your other EAs modified to check this variable before any trade.
Oh well, nevermind, we seem to be saying the same thing. But yeah, this is what I would do.
  • #7
  • Feb 5, 2010 4:05am Feb 5, 2010 4:05am
Hello,
Thank you all. I must admit my coding knowledge is practically nill. With the number of EAs available I had been hoping somebody was just going to say that it was an easy thing to do and they knew of one. It was though really something I was just thinking of as a final failsafe EA which 99.9% percent of the time would sit quietly in the background (as the trading EAs use stops), but would be there in case of the proverbial 'black swan'.
Matthew
  • #8
  • Feb 5, 2010 11:51am Feb 5, 2010 11:51am
untested:

Inserted Code
#define SW_SHOWNORMAL 1

#import "shell32.dll"
  int ShellExecuteA(int hWnd, string Verb, string File, string Parameter, string Path, int ShowCommand);
#import

/**
* start an external program but DON'T wait for it to finish
*/
void shell(string file, string parameters=""){
   ShellExecuteA(0, "open", file, parameters, NULL, SW_SHOWNORMAL);
}

/**
* shut down metatrader immediately
*/
void shutdown(){
  shell("taskkill", "/im terminal.exe");
}
  • #9
  • Feb 6, 2010 4:54am Feb 6, 2010 4:54am
Thanks 7bit,
I'll have a play around with your code and see how I go.
Matthew
  • #10
  • Feb 6, 2010 7:00am Feb 6, 2010 7:00am
Quoting matthew11
Thanks 7bit,
I'll have a play around with your code and see how I go.
Matthew
I would use the above code only as a last resort if you are dealing with commercial closed source EAs that cannot be turned off. It has some flaws, for example you cannot be 100% sure that in the small time between the closing of all open orders and the shutdown of MT4 one of the EAs finds time enough to open an new trade.

The most elegant and foolproof solution would be to disable an EA by immediately exiting it's start() function right at the top of the function if a certain global variable is set.

All EAs must be modified to contain this at the very beginning of the start function:
Inserted Code
int start(){
  if (GlobalVariableGet("trading_disbled") != 0){
    return(0);
  }

  // here follows the rest of the original start function
}
your stoploss EA would then first have to do the following:
Inserted Code
  GlobalVariableSet("trading_disabled", 1);
...and then close all open trades and orders.

After that none of the modified EAs will be able to do *anything* anymore because their start functions would always immediately return before doing anything else, until the variable is deleted or set to 0 again. You can access and change global variables from the metatrader menu also, so you can reset it with a few mouse clicks after it has been triggered.
  • #11
  • Feb 6, 2010 7:55am Feb 6, 2010 7:55am
perhaps this is what you want:
simple idea....

begin define one variable ContinueOpening=true
set it to false when your Equity level reach specified percentage

example :

if(AccountEquity() < specifiedpercentage)
{ CloseAll();
ContinueOpening=false;
}

Put this ContinueOpening==true at all your order commands logic.

You need to code it to all the EAs that being use in your account platform.

Then it wont trigger trades when the condition occured.
  • #12
  • Edited 12:51pm Feb 7, 2010 12:33pm | Edited 12:51pm
Quoting akukaya
perhaps this is what you want:
simple idea....

begin define one variable ContinueOpening=true
set it to false when your Equity level reach specified percentage

example :

if(AccountEquity() < specifiedpercentage)
{ CloseAll();
ContinueOpening=false;
}

Put this ContinueOpening==true at all your order commands logic.

You need to code it to all the EAs that being use in your account platform.

Then it wont trigger trades when the condition occured.
This would duplicate the logic that determines when to stop (in our case we wanted a trailing stop on the equity which is a bit more complicated) across every single EA, which is cumbersome to maintain and you have to specify the same stop conditions many times for every individual EA instance.

The OP wanted a separate trailing stop EA with all bells and whistles at one central place to give the stop signal and all the many trading EAs only to listen to this stop signal.
  • #13
  • Edited 10:53am Mar 13, 2011 10:46am | Edited 10:53am
Paid a programmer to create this. The trailing stop is a gem in which it places the stop x number of pips below previous bar so carefull which time frame you use it on. Also when the drawdown is hit this program closes all trades fifo order then shuts down ea's. test on demo first just aquired myself and not for sure if perfected. Also, logic knows if five/four digit broker and it doesn't matter what chart ea is on because it tracks all pairs on account. This can be an issue for multiple ea's
Attached File(s)
File Type: mq4 HIDDEN TP&SL_EAv.5.mq4   8 KB | 2,059 downloads
  • #14
  • Mar 1, 2012 11:15am Mar 1, 2012 11:15am
Hi Tekwell,
today I was looking for a similar Ea, I found it in another forum, but in there they say that it comes from ForexFactory.
I use to watch FF's Calendar every day, but I decided to join to thank you for sharing it with other peoples.

I hope it'll work for me too.

Thanks a lot
Stefano


Quoting Trekwell
Paid a programmer to create this. The trailing stop is a gem in which it places the stop x number of pips below previous bar so carefull which time frame you use it on. Also when the drawdown is hit this program closes all trades fifo order then shuts down ea's. test on demo first just aquired myself and not for sure if perfected. Also, logic knows if five/four digit broker and it doesn't matter what chart ea is on because it tracks all pairs on account. This can be an issue for multiple ea's
Italian (but not only) support for Exness.
  • #15
  • Nov 20, 2017 7:34am Nov 20, 2017 7:34am
Among Trailing Equity EA's, as per my experience, Equity Sentry is the best one.

 

  1. Account equity drops to a certain level (money/percentage/pips)
  2. Account equity reaches a certain level (money/percentage/pips)
  3. Open trades (floating loss/profit) reaches certain level

It will close all running EA's and will shutdown your MT4 terminal (best in case you are copying signals from other traders)

EA can perform several actions on Trigger:

  1. Close open trades
  2. Delete pending orders
  3. Disable Autotrading on MT4 terminal, which makes all EA‘s to stop any operations or simply prevent them from opening, modifying or closing any trades on the account. EA disables Autotrading in a very simple manner by clicking the „Autotrading“ button pro grammatically in the top MT4 toolbar.
  4. Close MT4 terminal completely.

Attached File(s)
File Type: zip Equity Sentry 1.4.zip   202 KB | 1,097 downloads
.................
  • #16
  • Apr 26, 2018 7:29pm Apr 26, 2018 7:29pm
Quoting KashifNawaz
Among Trailing Equity EA's, as per my experience, Equity Sentry is the best one. Account equity drops to a certain level (money/percentage/pips) Account equity reaches a certain level (money/percentage/pips) Open trades (floating loss/profit) reaches certain level It will close all running EA's and will shutdown your MT4 terminal (best in case you are copying signals from other traders) EA can perform several actions on Trigger: Close open trades Delete pending orders Disable Autotrading on MT4 terminal, which makes all EA‘s to stop any operations...
Why do you guys keep recommending this EA? It does not work on account equity but on P/L. See attached image.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 901 KB
  • #17
  • May 23, 2018 10:51am May 23, 2018 10:51am
Quoting Trekwell
Paid a programmer to create this. The trailing stop is a gem in which it places the stop x number of pips below previous bar so carefull which time frame you use it on. Also when the drawdown is hit this program closes all trades fifo order then shuts down ea's. test on demo first just aquired myself and not for sure if perfected. Also, logic knows if five/four digit broker and it doesn't matter what chart ea is on because it tracks all pairs on account. This can be an issue for multiple ea's {file}
this EA doesn't work?
  • #18
  • Feb 9, 2020 6:24am Feb 9, 2020 6:24am
Quoting Trekwell
Paid a programmer to create this. The trailing stop is a gem in which it places the stop x number of pips below previous bar so carefull which time frame you use it on. Also when the drawdown is hit this program closes all trades fifo order then shuts down ea's. test on demo first just aquired myself and not for sure if perfected. Also, logic knows if five/four digit broker and it doesn't matter what chart ea is on because it tracks all pairs on account. This can be an issue for multiple ea's {file}
This ea shows 42 errors lol laughable get your money back
  • #19
  • Last Post: Sep 7, 2024 11:41am Sep 7, 2024 11:41am
Quoting Gadge007
{quote} This ea shows 42 errors lol laughable get your money back
well, the code is quite decent, and it failed due to update of MT4 builds rule
please find corrected version attached.

all credits to FOREXflash!
Attached File(s)
File Type: mq4 HIDDEN TP&SL_EAv.5_jw.mq4   8 KB | 313 downloads
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