Hey traders! Exciting news for those of you using the TradeProtector EA on MetaTrader 4. The latest version, TradeProtector 1.1, has just rolled out with some cool updates that will streamline your trading experience.
Check out the full details here: TradeProtector 1.1 on MQL5
What’s New in TradeProtector 1.1?
- Symbol-Specific Processing: The new version now checks the currency pair before processing orders. Unlike version 1.0, which handled all orders regardless of the symbol, this EA now focuses only on the orders from the same currency pair. For example, if you’re trading EURGBP and EURUSD, simply attach TradeProtector 1.1 to the respective charts to use!
- Trailing Stop Fix: We’ve ironed out a minor calculation issue for trailing stops on SELL orders. Previously, the spread was mistakenly included in the trailing stop value calculation, but that’s been fixed.
Changes and Fixes in Version 1.2:
- New SL Algorithm: If there’s no stop loss (SL) set, the EA now establishes an initial SL based on the current price. The trailing stop operates normally until your profit reaches the specified threshold in pips, after which a proportional SL kicks in. The formula is as follows:
- SL = OrderOpenPrice() +/- dPropSLRatio(Bid/Ask - OrderOpenPrice()) +/- Spread
- Logging Levels: We’ve made logging levels more meaningful! You now have three logging options: 0 for no logging, 1 (default) for logging only SL changes, and 2 for a detailed diagnostic log.
Customizable Parameters:
Here’s a quick rundown of the key parameters you can set:
- logging: extern int logging=1; // choose from 0, 1, or 2 for logging level
- nInitialSL: extern int nInitialSL=15; // your initial stop loss in pips
- nTrailingStop: extern int nTrailingStop=35; // initial trailing stop in pips
- nPropSLThreshold: extern int nPropSLThreshold=12; // profit threshold for proportional trailing stop in pips
- dPropSLRatio: extern double dPropSLRatio=0.35; // multiplying factor for proportional SL
- nUseEscape: extern int nUseEscape=0; // set to 1 to escape misplaced trades at minimal profit
- nEscapeLevel: extern int nEscapeLevel=0; // size of loss at which to terminate the trade
- nEscapeTP: extern int nEscapeTP=35; // take profit level in pips
- nSleep: extern int nSleep=0; // delay after new bar
- nSlip: extern int nSlip=2; // maximum price slip allowed
These updates are designed to give you more control and precision in your trades. Make sure to test out the new features and let us know how they work for you. Happy trading!
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