Hey fellow traders! Today, I want to introduce you to a powerful tool that can help you manage your trades more effectively: the Exp_breakeven_trailing_SL Expert Advisor. This EA is designed to take your positions to break-even and even trail them across any currency pairs you're trading.
Here are the adjustable parameters:
- Symbol:
- This EA can work solely with the current currency pair.
- Alternatively, it can manage all your open positions.
- Magic Number:
- Set it to -1 to let the EA work with all magic numbers.
- If you want it to manage only the trades you opened, set the magic to 0.
- To work with trades from other EAs, just input the corresponding magic number.
Next up are the break-even and trailing stop sizes. If you set these parameters to 0, the functions won’t activate.
You have the flexibility to choose break-even only, trailing only, or both. If you opt for trailing only, the initial Stop Loss adjustment will mimic the break-even transfer.
- Break-even parameters: This is how far the price needs to move into profit before the Stop Loss is adjusted from the opening price.
- Trail parameters: This defines how much the price should advance into profit to adjust the Stop Loss either from the opening price or from the current Stop Loss level, if in profit.
If the trailing plus points are set to be less than the break-even plus points, the break-even will activate first, and then the trailing feature will kick in.
You'll find comments that clarify what's enabled—whether it's trail, break-even, or if both are off—along with the currency pair the EA is managing. This makes it a breeze to keep track of everything!
In a nutshell, the Exp_breakeven_trailing_SL EA is a fantastic asset for anyone looking to enhance their trading strategy. Happy trading!
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