Configuring a Universal Expert Advisor for Trailing Stops and Pending Orders

Summary

This MQL5 Expert Advisor is described as a general tool for trailing stop levels on both market positions and pending orders. It can also open positions or place pending orders, apply a scalping mode, track percentage changes in account value, and display settings on screen. The document lists configurable controls for order types, lot size, position limits, take profit, stop loss, trailing distance and step, breakeven waiting, and permitted trading times.

The explanation is primarily a feature and input reference; it provides no trading rules for choosing entries, no performance evidence, and no backtest results. Deposit-level profit and loss percentages are described as informational tracking, while the main intended function is stop trailing. The scalping option is named but not explained in enough detail to evaluate its signal logic. Users would need to determine appropriate settings for their market and confirm how the EA handles order execution and risk before relying on it.

Key ideas

• The EA can trail stops for open positions and pending orders of different types.
• It can place market or pending orders, with switches controlling order types and timing.
• Position and order settings include size, limits, take profit, stop loss, trailing distance, and trailing step.
• A breakeven option can delay trailing until a position reaches its entry level.
• The document describes features and settings but provides no performance evidence or entry strategy.

Tags

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