Configurable Break-Even and Trailing Stops for MT4 Positions

Summary

This document outlines an Expert Advisor that can move stop losses to break-even and/or trail them as prices move favorably. It can be limited to the current currency pair or applied across positions, and it can select trades by magic number, including all magic numbers, manually opened trades, or trades from a chosen Expert Advisor.

The break-even and trailing functions have configurable activation distances and step sizes; setting a function's parameters to zero disables it. Either function can run alone, or both can be enabled. When trailing alone is selected, its first stop-loss adjustment behaves like a break-even move. If the trailing activation threshold is lower than the break-even threshold, break-even acts first. The document explains configuration behavior but gives no testing results or guidance on choosing settings; stop adjustments do not establish that a trading strategy is profitable or protect against all execution risks.

Key ideas

• The Expert Advisor can move stop losses to break-even, trail them, or do both.
• Its scope can be restricted by currency pair and trade magic number.
• Zero-valued settings disable the corresponding stop-management function.
• When the trailing activation threshold is lower, the break-even function triggers first.
• The document provides no evidence that a particular configuration improves trading results.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.