Place a trailing stop Expert Advisor that will follow a moving average on any current position.
This little expert advisor, can handle a position exit in your absence. A trailing stop can sometimes be difficult to set, volatility can change, the value of the Pip can change depending on the underlying used. A moving average automatically adapts to volatility, and follows the course according to its dynamics.
The setting of this algorithm makes it possible to adapt the stop follower to totally personalized parameters, the follower stop can be defined according to all available moving average parameters.
It works on the MT4 platform provided by your broker
1. Enter the number of the position to be managed (Terminal Order Column)
2. Choose the type of moving average you want to use
. NEW : choose your moving average type in a drop-down menu
3. Set the period of the moving average to use.
4. Define the timeframe on which the trailing stop will be defined (0 corresponds to the time unit of the current chart)
. NEW : Choose your time unit in a drop-down menu
5. Click OK, and that’s it …
Your platform must remain connected to manage the stop, but you can safely stay away, the stop will automatically adjust to the desired stop value …
You can continue to manage your stop even if the expert advisor is running, so if you manually go back to the point of entry or to a key level for a position to buy, the stop will not evolve only when the moving average goes back over the current stop.
In case of accidental disconnection, or stop of your computer, no stress, a stop in hard follows your position on the value of the preceding candle, thus, your position is always protected …
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