Description:
Introducing the Universal Trailing Stop, a versatile tool that can function as a standalone Expert Advisor (EA) or run alongside your existing systems. This EA is designed to enhance your trading strategy and optimize your profit potential.
The way trailing stops are executed depends on the TrailingStop variable. You can choose to trail using fractals, historical bar extremes, or set specific point levels.
- If TrailingStop is set above 0, the trailing will operate with the defined points in this variable. Should TrailingStop fall below the minimum stop limits, the trailing will default to the minimum settings.
- If TrailingStop is set to 0 and Tip.Fr.or.Candl is also 0, the trailing will utilize fractals, with the first corresponding fractal being the reference point.
- If TrailingStop is 0 and Tip.Fr.or.Candl equals 1, the trailing will be based on the minimum or maximum price levels of the preceding candle.
- When Magic is set to 0, the trailing will apply to all relevant orders without any magic number restriction. If a specific magic number is assigned, trailing will only apply to orders associated with that number.
- If OnlyProfit is true, the trailing will only affect profitable orders.
- If OnlyWithoutLoss is true, the trailing will only engage orders that can be trailed to a price level without incurring a loss.
Visualization:
The script offers a user-friendly interface displaying vital information during its operation:
- Settings of the script
- Count of processed orders
- Current time
- Minimum stop levels
- Current potential stop levels (price tags)
Tips:
The script will automatically terminate once all orders are closed. If you’re running it as an EA, you have the option to terminate it manually at any time.
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