Hey fellow traders! If you're looking to up your game with a solid trailing stop strategy, you're in the right spot. Today, we’re diving into the Universal Trailing Stop, designed specifically for MetaTrader 5.
This handy Expert Advisor (EA) operates seamlessly in both regular mode for single positions and in HEDGE mode for those juggling multiple positions. Whether you're a scalper or a swing trader, this tool has something to offer.
What I love about this EA is its versatility. You can set your trailing stops based on various methods:
- Fractals
- Bar extremums
- Parabolic Moving Average
- ATR indicators
- Or simply by a specified number of points
And if you want to get a bit fancy, you can even trail orders based on your profit percentage. Pretty neat, right?
Here are some key parameters to consider:
Let’s check out how it works with the Parabolic method:
And here’s an example of using the Moving Average:
Whether you're trading in a single position or navigating multiple trades, this EA is a reliable companion. Check out this setup in action:
So there you have it! The Universal Trailing Stop for MetaTrader 5 is a powerful tool to help you lock in profits while minimizing risks. Give it a try and see how it can fit into your trading strategy!
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