Hi Forexclown, sorry for my late answer, didn't see your question. It is very important that the EA I posted is only a stop EA, so it doesn't buy or sell. You have to buy or sell manuell, then the EA will trail your stop's. Second point is, don't copy the .ex4 file into the expert folder, copy the .mq4 file into the erxpert folder, then it should work.
Erkro
Ignored
Hi Ekro,
This was an old post of yours... regarding the Jacko Anti Hedging EA. I have the .ex4 file, but cannot find the .mq4 file. Could you point me in the right direction please?
It is a stop loss that trails the high of a long trade or the low of a short trade. So (for a long trade) as the high goes higher, the stop loss is set higher, increasing profits (or decreasing losses). If you have Metatrader platform, there is a good description in the help files.
Note: there is a big difference between a trailing stop that is managed on your PC, or one that is managed on the broker's server. It's important to understand the difference.
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Joined Sep 2006
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Status: Trend Trader
|277 Posts
I am using the trailing stop EA, which is BRILLIANT!! Thanks guys!
But I am having a problem with the profit target. I tried 100, entered in the external inputs on the chart, and was stopped at 0. The next try resulted in 1 pip.
Been quite some time since anyone has posted here, but I have used the trailing stops EA with success (though it has limitations - e.g. it won't trail multiple positions).
I incorporate Jacko's thoughts into my trading scheme to a great extent, though I have my own system that seems to be working well overall, but can really be improved with better entries. But I am in a situation where I literally need to look at my charts in the morning and then work all day. My job is such that I am unable to monitor trades with any consistency. I can again look at the charts at the end of the day, but then I sleep (a necessary and wonderful thing) but again am not monitoring trades closely.
Despite my efforts at conservatism in trying to enter at a round number after a solid dip, near a trend line, I am basically stuck with placing LIMIT orders, but would much prefer to have a way to monitor price once it reaches that current entry level level as opposed to entering a position immediately upon reaching that price. Then, when price reverses by X number of pips (depending on the currency pair and volatility - I do deviate from Jacko in that I trade other currency pairs at different trailing stops and I look at more than one long-term trendline.), I'd enter with the trend rather than against it. Not a new concept, just having trouble being able to do it with limited monitoring capability. Soooooo.... I am hoping someone may be interested in working with me to find out exactly how I want to approach this monitoring thing and develop an EA to do that. I'd also like the same EA to trail the stops of all open positions, and incorporate money management to determine trade size and trailing stop size. All this part of the method could be automated. However, the actual chart analysis and selection of those appropriate trigger prices would still be a manual process based on the individual's view of the charts. I'm only looking for a way to optimize the entry point without needing to be there monitoring.
Anyone out there that is proficient in MQL that would be interested in working on this? I'd be happy to provide all details of the trading system and how the EA would be used.
I don't know enough about MQL to know how difficult of a program it would be, but I don't think it would be too bad.
If interested, e-mail me at geezep at yahoo dot com.
hi, I just added the EA to mt4. I turned expert advisers on and attached the V3 of the EA to an open chart of EUR/USD. I left the default settings on (could not find profit trailing to set it to zero for some reason...). Of course the EA name and a smiley face show up on the upper right hand corner of the screen. I have no open positions...
Now, does the EA management work as soon as I open a position? I tried opening a position on demo and nothing happened. The EA does not place any orders at any specific price, despite my multiple attempts at refreshing the terminal.
In post 7 there is is a link to trailingstop.mq4 EA.
Suppose you create a buy order with say a TP of 30 pips (300 on 5 digit brokers), and a stop loss of 20 pips (200 on a 5 digit broker). The great thing about this EA is that it allows trailing even when you are NOT in profit.
My question to an Expert coder is: What modifications do I need to make to allow me to use this EA on a 5 digit broker.
When you attach the EA to a chart, a window pops up and you can change the settings here. For a 5 digit broker do I just add another zero to all pip values?
One of the options is "Trailing stop", and the default setting is set to 7- what does that mean? Does it mean that you must have a minimum stop loss of 7 pips before you can use the EA?
