Pips Trailing Stop EA MT4
- Utilities
- Udeme Anietie Okon
- Version: 1.1
- Updated: 18 April 2025
- Activations: 10
This EA Trails your stops for both manually and auto-opened trades. This EA will work whether you have manually or automatically set stop loss or not. However, the percentage based trailing requires that you set your TP for it to work.
Trailing stop is a more flexible variation of a normal exit order. Trailing stop is the practice of moving the stop-loss level closer to the current price when the price moves in your favor. Trailing the stop-loss allows traders to limit their losses and safeguard their positive trades. It is a very popular practice. This EA will manage your order's stop-loss by moving it at fixed steps. A trailing stop will allow a stop order to follow the last traded price based on a pre-set distance, and will automatically move to lock in the positive trades. It follows a simple rule and doesn't rely on any indicators.
Search "Trailing Stop EA MT5" for the MT5 version of the same EA.
DETAILED EXPLANATION OF TRAILING STOP INPUT PARAMETERS
1. TRADE_SYMBOLS - Specifies the currency pairs for which the EA applies the trailing stop.
Format: "EURUSD,GBPUSD,USDJPY".
The EA only applies the trailing stop to these pairs.
2. ENABLE_TRAILING_STOP - Enables or disables the trailing stop function.
true → Trailing stop is active.
false → Trailing stop is disabled.
3. USE_PIPS_TRAILING - Determines whether the trailing stop should work based on pips.
true → Trailing stop uses pips.
false → Uses a percentage-based method.
4. TRAILING_START_PIPS - The number of positive pips gained at which the trailing stop starts.
Example: If set to 20, the trailing stop activates when the trade reaches 20 positive pips.
5. TRAILING_STOP_PIPS - The distance in pips between the current price and the stop loss once the trailing stop is activated.
Example: If set to 20, the stop loss moves 20 pips behind the price.
6. TRAILING_STOP_PERCENT - Used when USE_PIPS_TRAILING is false.
Defines the percentage of the TP level at which the trailing stop is triggered.
Example: If TP = 100 pips and this is set to 50, the trailing starts at 50 pips.
7. TRAILING_STOP_DISTANCE_PERCENT - Used when USE_PIPS_TRAILING is false.
Defines the trailing stop distance as a percentage of the total TP.
Example: If TP = 100 pips and this is set to 10, the stop loss moves 10 pips behind the price.
8. TRAILING_STEP - The minimum movement (in pips) before adjusting the stop loss again.
Helps to avoid excessive stop loss modifications for small price fluctuations.
Example: If set to 5, the stop loss will only be adjusted every 5 pips.
Don’t forget to Allow Live Trading the EA and Enable Auto Trading on the chart. See images below for guidance. Tick the boxes as seen.
