Timed Trailing Stop Loss

Timed Trailing Stop Loss

1. Initial Stop Loss Setup:

   • Automatically applies an initial stop loss (in points) immediately when a trade is opened.
   • Provides peace of mind by ensuring every trade is protected against unfavorable price movements.

2. Dynamic Trailing Stop:

   • Adjusts the stop loss at the close of each candle based on a fixed point distance.
   • Moves the stop loss incrementally closer to the current price, locking in profits as the market moves in your favor.

3. Works Across All Timeframes:

   • The EA adapts to any chart timeframe, whether you're trading on the 1-minute or daily chart.
   • Trailing adjustments occur in sync with the candle closures of the active chart.

4. Completely Hands-Free:

   • Once set up, the EA handles all stop-loss adjustments automatically, allowing traders to focus on strategy development and analysis.

5. Customizable Settings:

   • Input parameters for setting:
     • Initial Stop Loss: Specify how far the stop loss is placed when the trade is opened.
     • Trailing Stop Points: Define the fixed distance the stop loss adjusts at each candle close.

6. Optimized for Precision:

   • Ensures the trailing stop continues to adjust beyond the trade’s open price, capturing maximum profits in trending markets.

How It Works

1. Trade Opening:

   • The EA detects when a new trade is opened and immediately sets an initial stop loss based on the user-defined value (e.g., 650 points).

2. Candle Close Detection:

   • At the close of every candle, the EA recalculates and adjusts the stop loss:
     • Buy Trades: Moves the stop loss higher by the trailing distance (e.g., 150 points).
     • Sell Trades: Moves the stop loss lower by the trailing distance (e.g., 150 points).

3. Trailing Stop Logic:

   • The stop loss will continue to adjust incrementally, locking in profits as the market moves favorably, even surpassing the trade’s opening price.

4. Trade Closure:

   • If the price hits the dynamically adjusted stop loss, the trade is closed automatically, securing profits or minimizing losses
   • Technical Details

1. Technical Details

   • Platform: MetaTrader 4 (MT4)
   • Input Parameters:
     • InitialStopLoss (default: 650 points): Sets the initial stop loss when the trade is opened.
     • TrailingStopPoints (default: 150 points): Defines the trailing stop distance per candle close.