ATR Trailing Stop MT4/MT5 Expert Advisor

A trailing stop is a risk management method that is very popular among Forex traders. With the ATR Trailing Stop MetaTrader EA, you can make your orders' stop-loss levels use an ATR-based distance from the current price.

What is ATR Trailing Stop MT4/MT5 EA?

ATR Trailing Stop MT4/MT5 EA is an expert advisor that can manage your stop-loss orders.

In particular, this expert advisor can use average true range (ATR) values to set the stop-loss for your orders.

Average true range is a popular indicator among all financial traders. It can be used to measure volatility of the price movements.

This makes the ATR indicator good not only for risk-based position sizing but also for using as a stop-loss distance.

Trailing your stop-loss with the ATR value can be a good idea in several situations.

Why Use ATR Trailing Stop MT4/MT5 EA?

Risk management is one of the most important aspect in trading. Having a stop-loss will protect you from margin calls and big losses.

In many cases, it is useful to have a trailing stop, which is a "moving stop". A trailing stop is a stop-loss where the value is updated when the price moves in the favor of the trade.

There are many types of trailing stop — it can be a fixed step change or it can follow some indicator.

In the case of ATR Trailing Stop expert advisor for MetaTrader, the stop-loss distance follows the volatility-derived ATR values.

There are several reasons for using ATR Trailing Stop EA in your MT4 or MT5 platform:

1. Filtering options to select which trades are managed.
2. A stop-loss is set automatically if there is none.
3. The stop-loss follows the price when moving in the favor of the trade.
4. It doesn't require human interaction.
5. Track one or multiple symbols.
6. Limit losses.
7. Secure profits.
8. Avoid margin calls.
9. Notifications when the stop-loss is updated.

Parameters

This expert advisor supports the following input parameters to be configured by the trader:

• ATR Period — a period for ATR indicator value calculation.
• Shift In The ATR Value — better leave it at '1'.
• ATR Multiplier — a multiplier to use with the ATR value when calculating stop-loss distance.
• Apply To Current Symbol Only — if true, TS will apply only to the current chart's symbol; otherwise, will trail orders on all symbols.
• Apply To — select which types of orders to apply a trailing stop to.
• Filter By Magic Number — true or false depending on whether you want to modify only the orders with a specific magic number.
• Magic Number — specify the magic number in case the above is true.
• Filter By Comment — true or false depending on whether you want to modify only the orders with a specific comment.
• Comment — specify the comment if the above is true.
• Enable Trailing Stop — if true, the EA is active and is trailing stop-losses.
• Enable Notifications feature — if true, the EA will send notifications upon triggering.
• Send Alert Notification — if true, the EA will issue native on-screen alerts.
• Send Notification to Mobile — if true, the EA will send push-notifications to your mobile device.
• Send Notification via Email — if true, the EA will send emails when it updates a stop-loss.
• Show Graphical Panel — if true, a graphical panel will appear on the chart to control the expert advisor.