Here are 8 MT4 trailing stop EA‘s you can use to manage your trades as well as locking profits in profitable trades.
Trailing stop loss is an important part of forex risk trading management as well as trade management.
Sometimes the default trailing stop feature of the MT4 trading platform does not really satisfy a forex trader the way he wants to apply trailing stop to his trades.
Who knows, you might be in a toilet, or on the phone with a friend you haven’t talked for a very long time and you have a profitable trade running and whilst you are away from the screen, the market can make a drastic move against your trade and the worse thing is, you have not locked any profit.
That’s where trailing stop expert advisors come in handy.
Here’s the list of 8 trailing stop ea’s starting with the first one…
#1: e-Trailing.mq4 expert advisor
How This MT4 Trailing Stop EA Works
- works on one chart at a time therefore if you have trades open in different charts, you need to upload to each chart
- creates automatic trailing stop for all trades that are open or will be opened in the future.
- AllPositions-trailing stop is used for all positions
- Profit Trailing-if “true”, it activates trailing stop as soon as your trade starts making profits and protect(locks in your profits) and if “false”, trailing stop is activated as soon as a new position is opened.
- TrailingStop-this tells you the size of the trailing stop in pips
- TrailingStep-this is hte step of the trailing stop
- UseSound-option to use sounds or not.
- NameFileSound-the name of the sould file
Download Link to This MT4 Trailing Stop Expert Advisor
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#2: Swiss_Army_EA_V1.51.ex4-Expert Advisor
How This Trailing Stop EA Works
- if you want to apply breakevens, trailing stops, setting and removing take profits and stop losses and variety of conditions for closing trades, this expert advisor is suitable for that.
- this expert advisor will print to the screen what it allowed to do which helps you figure out what it does.
- you also need to spend a bit more time to to really learn how to use it.
Here’s the link to the guidelines if you are a first time use and want to have big of information on it:
MT4 Trailing Stop EA Download Link
#3: Tight_Trailing-Stops.mq4 Expert Advisor
How This Trailing Stop Expert Advisor Works
- this expert advisor sets really tight stop loss order and trailing stops.
- you may have an issue using this expert advisor with some forex brokers
- If you set “UseTightStop” to true, it will setup a trailing stop
- “TrailingAct” is the number of pips you set to start the trailing stop starts to trail. Example, if you want the trailing stop to activate when the trade is in 15 pips of profit then set TrailingAct to 15.
- “TrailingStep” is the amount in pips you want to trailing stop to trail by.
#4: BreakEvenExpert_v1.mq4 Expert Advisor
How This Trailing Stop EA Works
- this expert advisor is pretty good…what it does is sets the stop loss to breakeven when “x” amount of pips in profit is achieved.
- In the figure above, note that “Breakeven=30” simple means that this expert advisor will move your stop loss to breakeven once 30 pips profit has been achieved.
#5: TrailingStop.mq4-expert advisor
How This mt4 Trailing Stop Expert Advisor Works
- this trailing stop ea modifies trailing stop loss on all open trades that are in profit on teh current account and the charts where it is attached to.
- it also closes all trades and can also take specified profits when the entire trading account is in profit.
- For parameter, have a look at its intruction manual: Trailing_Stop_Manual
Download Link For EA
#6: EMATrailingStop_v1.4.mq4 Expert Advisor
How This mt4 Trailing Stop Expert Advisor Works
- how this trailing stop ea works is by using a trailing stop based on exponential moving average.
- so you set the “EMA Period” to 13 means that it will use the 13 EMA to trail stop your trades.
- If you set “TrailAllSymbols” to “true”, it will trail all the currency pairs, not just the pair it is attached to on the chart.
- “CloseWhenProfit”…you set this parameter to start trailing the sum of all profits gained from all open trades so when it reaches a value you’ve set, all the trades will be closed.
- If you set “TrailOnlyInProfit” to “true” then it will activate a trailing stop on only those trades that are in profit. If “false” it will trail all the trades.
- “EMAShift” simple means the bar of the EMA that is used as a trailing stop. If set to zero (0), it will do it on ever ema bar tick.
- With “magicNumber.from” and “magicNumbe.to you” controls which numbers should it trail. Magic number 0 are usually for manual trades which means if you decide to put 0, this ea will monitor and trail manual trades along with chosen magic numbers.
#7: TrailingWithPartialClose.mq4 Expert Advisor
How This Trailing Stop Forex Expert Advisor Works
- if you want a trailing stop forex expert advisor that closes partial positions when each target is reached then this is the one.
- there are 6 different types of trailing stops you can apply here.
- Best option is to download it and play around with it on a demo trading account and figure it out because there’s quite a lot of parameters to it.
#8: Trade_protector-1.2.mq4 Expert Advisor
How This Trailing Stop EA MT4 Works
- this trailing stop is a bit different because it is based on a concept called proportional trailing stop.
- what it does is setup a % ratio of pips to be protected by a trailing stop depending on how well the trend moves.
- When you set the % ration, the expert advisor will move the stop loss to “x %” of the distance between the current market price and the price where the order was activated/executed.
- Here’s the formula for Proportional Stop Loss=|Current Price-OrderOpen Price|x Ratio-Spread.
- logging=1 means that if you want logs in the expert\files directory, 0 if you do not want that.
- nTrailingStop=35 means that 35 pips for initial trailing stop until the trade reaches:profit=nPropSLThreshold.
- nPropSLThreshold=12 means that 12 pips after reaching this the profit proportional trailing stop will be activated.
- dPropSLThreshold=0.35 This is the multiplying factor and calculated by :(PropSL=Profit*dPropSLRatio-Spread)
- nUseEscape=0. 1 or 0 escape misplaced trades as soon as they reach some minimal profit.
- nEscapeLevel=0. This is the loss size in pips you want your trade to be terminated as soon as it will reach the next high.
- nEscapeTP=35. This is the take profit level in pips. If you set this to a negative number then it will be a trading loss that you have determined and are willing to risk.
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Hello. Nice recommendations but i couldnt find the trailing ea in my mind. I will explain it with an example. Lets say I have opened a short on AUDUSD from 0.7660 and I am pretty sure that it will go to at least 0.76.. I want to trail my profit every “x” pips after 0.76.. but locking in 60 pips profit at least. If you know is there an EA like that or manually i can do this on MT4 ? I wonder what would happen if I set my SL to 0.76 and then trail command on MT4.
Thanks for your help.
I want to trail my profit .. let s say 60 pips is guaranteed but i want to trail ..
It really depends upon you how many pips away you want to trail stop your profitable trade. You place it too close and you get stopped out easily. Best way I thing is to use swing high/swing lows and manually trail stop your trades.
Quite a handy page, really.
There is one that you could mention which is called “silent tracker” (petit-trader.com). It works by applying an Elder % of profit, e.g. 40% or 50%. The second function offered by the expert, which may become precious is that it will record the full profit/loss history of the order, and the positive profit history associated to the trailing stop; this profit history will help refining the settings of the trailing stop strategy.
This is the expert that I use because I have another professional activity.
Their website also offers a tool for more active traders (day traders), which enables a trailing stop as well, it is a script so can be combined with an expert. Especially useful when you already have an expert that detects opportunities (having only one expert per chart is a MT4 limitation that I’ve never understood). The main function of that script is the calculation of the ideal position size and soft pending orders, but the other application of the script is a trailing stop strategy which is modifiable at all times.
Thanks for the heads up, Adam.
Other traders/readers of this blog may find that useful.
does brokers block these ea’s? or can i use them without any problem in real accounts..works perfectly in demo accounts
if they work perfectly in demo account, then they should work well in live accounts as well and I don’t see why any forex broker would block them either.
I’m not a coder, can’t answer “techie” stuff.