A script that helps you set trailing stops.

Trailing stop is one of the options for stop orders; it automatically closes a position as soon as the price reaches a certain level.

Unlike stop loss, this order does not have a fixed indicator, it is floating, that is, it is not a specific point that is set upon reaching which the position will be closed, but the distance from the existing price in points.

That is, while the price moves towards profit, the trailing stop also moves behind it, but as soon as a reversal in the opposite direction occurs, a stop order will be triggered after a certain number of points.

Additional information on working with this order can be obtained in the article “ Trailing Stop ”, where you will also find a description of all stages of manual installation.

The trailing stop script helps to set this stop in a fully automatic mode; it is a kind of advisor that does not require additional configuration.

For it to work correctly, you must first copy the downloaded “e-Trailing” program file to the “scripts” folder.

Then we restart the trader’s terminal and find the installed trailing stop script in the list of scripts.

Then we proceed directly to opening positions; the program only works on already open orders.

As soon as the position is open, click on “e-Trailing”; it is automatically set to the open position with the following parameters:

TrailingStop=15 – the stop point will be located at a distance of 15 points from the current price.

ProfitTrailing=true – the program will start working as soon as the position becomes profitable.

TrailingStep=2 – values ​​change every 2 points.

You can change parameters only in the script settings themselves, using the code editor.

Download the trailing stop script.