I'm seeking a trailing stop EA that surely must exist, any ideas?

Ok!! I got v6 working.

All I had to do was download it from the paper clip area.

Looks great, and works well...

Hurraa hurraa!!!!

Hi all, Two suggestion for improvement,

-setting for optionally set stop loss in server at the same time with the opening any orders
-option for split exit (% values) with trailing stop + 2 MA cross (sma-ema-lwma..) /or When price cross MA (+ pip range value)

Regards

Hi Guys,

Herewith a major upgrade to this EA. Also I have renamed it(sorry Ben)

Use of the Compuforex Trailing Stop
Typical User default settings are as follows :-
MagicNumber = -1
Own_Symbol_Only = false
Trail_Start = 10
Trail_Max = 50
Trail_Percent = 50
Trail_Min = 5
Use_Decay = true
Decay_Rate = 1
Exp_Decay = true
Wait_Bars = 4
Min_Mod = 0.5
Audio_Alert = true



The trailing stop has the following feature/functions :-

1. Trail starts at number of pips defined by the user;
2. EA will trail your order by a % of the profit as defined by the user e.g. 50% trail>>>>20 pips profit = 10 pips trail;
3. rail is limited to a maximum trail by the user e.g. 50% of profit until trail reached 50 pips, thereafter trail at constant 50 pips;
4. The EA can reduce(or decay) the trail % at a user defined rate per bar;
5. The user can choose to have the EA accelerate the trail decay;
6. The user can have the EA wait before the trail decay commences;
7. User can define the minimum pip change to the trail to reduce trade thread activity;
8. User can choose whether to have an audio annunciation of trail commencement;
9. A lot of attention has been given to order persistence. You can close the EA or crash the platform and the EA will pick up where it left off, having recorded all trade information to file. When reloading the EA, the file is verified against existing trades and old data discarded, new data added and only valid data is used.
10. There is more screen output that keeps the user informed as to the EA's activity.
11. The EA will trail multiple currencies simultaneously, automatically correcting for 4/5 digit brokers and 2/4 digit instruments;
12. The user can choose to use on only a single currency if required.;
13. The user can elect to trail only a specific MagicNumber if required

A brief explanation of the settings :-

MagicNumber - Use this to set a specific MagicNumber to be trailed. This is when you are using this EA in conjunction with another EA. Set this to -1 to trail all MagicNumbers(including manual trades).
Own_Symbol_Only - if set to true, will ONLY trail the currency pair of the chart on which the EA is loaded.
Trail_Start - This is the number of pips in profit a trade must be for the EA to commence trailing a trade.
Trail_Max - As profit increases, so will the trail....this setting sets the maximum number of pips in trail that the trail will be allowed.
Trail_Percent - this is the % of profit to trail by. A big % equals a long trail. E.g 100% would be break even. 5% would be a very tight trail.
Trail_Min - this is used in conjunction with the trail decay. The trail % is reduced over time(per bar) down to this value in this case 5%.
Use_Decay - Tell the EA if you want to use the trail decay or not.
Decay_Rate - this is the rate at which the trail decay will occur. In this example, the trail will reduce from 50% at a rate of 1% per bar.There is more than 1 way to use this bcause an additional variable is the timeframe of your chart. You could run this on the M1 chart which would result in a decay rate of 1% per minute. You could also run on the M5 which would result in a decay rate of 12% per hour,etc, etc.....
Exp_Decay - this is for an exponential decay. In this case, the initial decay rate is by default 1% and you cannot change that. On the first bar, the trail is reduced by 1%, on the next bar it is reduced by 2% and then 4% on the next bar. My thinking is this would be good for catching breakouts.
Wait_Bars - Oncethe trail is running at the Trail_Percent, this setting will tell the EA to wait before it starts to decay the trail. You may want to trail at 75% for 30 minutes and then only start winding in the trail.
Min_Mod - This setting tells the EA not to adjust the trail with every single 1/10 pip but will only make changes every 0.5 pips. This reduces thread activity which may be a factor if you are trading several EA's(think of 'Trade Context is Busy').
Audio_Alert - Enables or diables the trail commencement audio alarm(was more useful for me for testing).

You are welcome to ask questions but please don't ask me what settings work best. You need to experiment and determine those....

As always, feedback and bugs please..........

I modified this to add ID as part of the label names.
There were other problems that will occur as mentioned in comments.
I have been through this before with other indicators and EAs not properly removing their own objects and removing objects created by other indicators or even hand drawn like trendlines or text placed on the chart.

Robert

Of course the simple solution is to run this in a chart of its own.........

Of course but I already have 9 charts open looking for trade setups.
I use a tenth chart for trade management that has some indicators that show current profit/loss on each order plus the basket using label objects. I use that to place closeall scripts when a basket level is reached even though the trailing stop is still active. My version of trailing stop now has 8 types to chose from.

Robert

The cheek of it!!!!!!! Don't you have planes to fly?

Hi first of all Thank You for creating and sharing this ea...
I just installed this and was wondering if there is an option to show a trailing stop line...or maybe there is one and i did something wrong..??
I am currently at 25 pips with activation @ 10 pips... trail at 10% but i don't think it has activated.

64punisher,

Yes, you should see a line indicating the trailing stop.....assuming you are running the EA on the same chart of the currency pair being controlled.

You can also check in the chart properties>>colors tab, the last selection is color for stop levels.....is that a suitable color?

Also, can you see the actual stoploss in the stoploss column of the terminal?

There should also be comments on the screen indicating the status of the trail.....it should be telling you how many pips are locked. If not, check that the magicnumber matches the trade.

Kenny thank you for spending the time to do this, I can see how helpful this will be in my strategy.

I apologize if this is a dumb question but I want to make sure I understand this properly;

Say for example you found yourself a doozy of a trade and it rides for 300pips the SL will pull out once the price, still +250 pips, retraces back 50 pips because the max SL can be is 50 pips from the highest price, is that correct?

thank you again

after attempting to set this up on my last trade the trailing stop didnt come into effect, is this because im not using any other EA's to give me the "magic number"?

I had assumed the magic number was the TP set up when i set the trade.

Yes, that is correct.

No. If you want this EA to control your manual trades, set the MagicNumber to -1(for all trades) or to 0(for manual trades). All manual trades have a MagicNumber of 0 assigned by the terminal. MagicNumber has nothing to do with the magic of having your trade hit TP.

i guess i need to research this magic number more

Hi Kenny
I'm glad I found your latest MM EA yesterday. I'm testing it now.
I wonder if you can put hedge function in it. Hedge and hedge the hedge with possibility to determine lot-size and how many levels the hedge the hedge should be.
An other thing I do by hand is when I have say 10 orders and 5-6 of them are in profit and one is 30-40 pips negative, I use the profit orders for close the negative one at BE. The profit can come from any currency pair to close out the biggest looser. I use to do that by hand and I have searched for an EA that can do it. Do you think that is possible to do. Thanks!!

I feel half retarded because i cant get this to work still, i am attempting to use it with Bag's 5/12 method, am I the only one having issues?

Thank you, thank you!

Good Trading

This is a trade management EA correct? ie. we could use a script to put on both a long and short trade within the same currency and this EA would stop out the loser and trail the trade in profit.

I like the look of the equity curve on the first page and that seems to be the way to do it!

Thanks in advance.

That's one way of using it, yes

I just realised what this EA is missing Kenny (nudge nudge)

A simple TP and SL setting, just in case price doesn't go your way and of course for when it does.

Sorry to bump in with another EA.

Could KennyHubbard, Mr Pip or anyone correct this EA?

It works on 4 digits broker but recently it stopped working. When it is activated, the Trailing stop From Begining EA kicks in the trail at 2 pips no matter how many pips I asked it.

Is it because my broker has changed to 5 digits or my broker MIG Swiss just forbidded it now?

Greatly appreciate your help.
Thanks in advance