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Trail By Value

Your feedback is valuable and appreciated.

I appreciate feedback on where the application is weak and what improvements or features would be beneficial.


This is a utility for setting trailing stops by value.

Trailing stops are great tools for locking in profits as a trade progresses.

When trades progress towards potential targets confidence in the trade should be reflected in management of the trade. Market exposure persists for the duration of the trade, and the choice to remain in a trade is equivalent to opening a new trade at the current market price.

Keeping SL fixed thus reduces R:R over the duration of the trade and will result in thousands lost in equity over the duration of one's trading career.

A fixed SL does not allow for the capture of profits from trades that are profitable in the short term. Capturing every quantum of profit from a trade reduces the impact of losing trades and should be included in any risk averse strategy.

Trailing stops also provide a solution to equity drawdown requirements set by prop trading firms.


Parameters

Boolean(True/False), ACF : Account Currency First, This can be set to false when dealing with commodities, forex pairs and crypto. However some indices require different profit/loss calculation procedures. Calculation procedures include pairs that consist of the account currency and the USD. In the event that your broker places your account currency first in the USD pair, such as is commonly the case with cable or the euro, set this to true.


Boolean(True/False), Set_by_Value : Set this to true to use trailing stops according to max equity drawdown. Set to false to use trailing stops according to pips.


Boolean(True/False) Same_Stop_Price: Set to true if you want all orders on chart to stop out at the same price according to the standard lot size (see Standard_Lot parameter below, this is only effective when Set_by_Value is set to true. This will result in equity disparities between non standard lot orders and the Trailing_Stop value specified.


Boolean(True/False) Effect_Larger_Trades: Set this to false to keep the equity drawdown limit of larger orders to the specified value set in Set_by_Value. Setting this to true results in larger equity drawdown limits for larger orders when Same_Stop_Price is set to true.


Double, Trailing_Stop: Set in pips, i.e 25, 50, OR set in terms of equity accrued i.e 500, 1000, etc. When Same_Stop_Price is set to true the Trailing_Stop value will only be reflected in orders with the standard lot or larger, unless otherwise stated by setting Effect_Larger_Trades to false (larger lot orders can be explicitly exempt from the effects of Same_Stop_Price)


Double, Standard_Lot: The standard lot size by which the trailing stop for all orders with lot sizes not equal to the standard lot is calculated.


ACF default value = false

Set_by_Value default value = true

Same_Stop_Price default value = false

Effect_Larger_Trades default value = false

Trailing_Stop default value = 2000

Standard_Lot default value = 2.0




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Send fully customizable signals from MT4 to Telegram and become a Signal Provider! This product is presented in an easy-to-use and visually attractive graphical interface. Customise your settings and start using the product within minutes! User Guide + Demo  | MT5 Version  | Discord Version If you want to try a demo please go to the User Guide. The MT4 To Telegram Sender does NOT work in the strategy tester. MT4 To   Telegram  Features Fully Customise signal to your preference with a huge
OrderManager MT4
Lukas Roth
4.67 (21)
Introducing the OrderManager : A Revolutionary Utility for MT4 Manage your trades like a pro with the all-new Order Manager utility for MetaTrader 4. Designed with simplicity and ease-of-use in mind, the Order Manager allows you to effortlessly define and visualize the risk associated with each trade, enabling you to make informed decisions and optimize your trading strategy. For more information about the OrderManager, please refear to the manual. [ Demo ]  [ Manual ]  [ MT5 Version ]  [ Telegr
The Expert Advisor will help you forward all pop-up alert with screenshot from  MetaTrader 4 to Telegram channel/ group, also forward all notifications to Telegram. Parameters  -  Telegram Bot Token - create bot on Telegram and get token.  -  Telegram Chat ID  - input your Telegram user ID,  group / channel ID  -  Forward Alert - default true, to forward alert.  -  Send message as caption of Screenshot - default false, set true to send message below Screenshot  How to setup and guide  - Telegram
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Version 1.1 2023.04.27
Updated to add feature that permits trading with oddly named instruments.

Parameter
Boolean(True/False) OddNaming: Set this to true when the pair name includes special characters or includes words that do not ostensibly relate to the pair.

OddNaming default value = true