Risk Multiple Trailing Stop Loss EA for MT4

Description

Automatically Trail Your Stop Loss By Risk-Multiple in MetaTrader 4

Trailing your stop loss on your trades is a way that professional traders let their winners run.

A properly configured trailing stop loss allows you to minimize your risk, while helping you take advantage of big market moves.

But trailing your stop loss correctly can be tricky…

Set the trailing stop too tight and you will get stopped out before a big move.

If you set it too wide, you will give up a lot of gains.

Using a risk (also simply known as R) multiple trailing stop loss can be a great way to give your trades the proper space to develop to their full potential.

What a Professional Trader Has to Say…

Why Traders Use R-Multiple Trailing Stop Losses

The beauty of using a R-multiple trailing stop loss is that there is no second guessing when your stop should be moved.

If you use other methods like trailing your stop at support/resistance levels, these levels can be very subjective and can lead to doubts as to if you should move your stop or not.

But if you use a R-multiple EA, it’s a no-brainer.

…and with this EA, you will never miss an opportunity to lock in profits or move your stop to breakeven.

This frees you up to have a life and will prevent you from tinkering with perfectly good trades.

$119
$97

Why Automated Trailing Stop Losses On Most Broker Platforms Fail

Yes, some brokers give you the ability to trail your stop loss on their platform…

But the problem is that many of these solutions seem great in theory, but don’t work in real market conditions.

For example…

Trailing stop losses on many platforms are “rolling” stop losses. In other words, the stop loss stays constant relative to current price, and moves with every tick of the market.

This actually works against you. 

For example, let’s say that you have a trade where you are able to set a tight 25 pip stop loss. With such a tight stop, there is excellent potential to get several R multiples of profit out of the trade.

But if you use a rolling stop loss with such a tight stop, you are also much more likely to get stopped out because price can retrace 25 pips in a heartbeat.

This is especially true with volatile currency pairs like the GBP/JPY. 

If you trail your stop loss by one or two R-multiples, or more, that gives your trades room to breathe and can potentially increase your probability of catching a big run.

That is why so many traders use a R-multiple trailing stop loss.

But we weren’t able to find a high quality EA that would do this.

So we found an elite programmer to create one for us.

Here’s how it works…

SDS TradeManager EA Settings Explained

Here’s an explanation of the settings:

• BE_R: The R level at which the stop loss is moved to breakeven. If you don’t want to use this functionality then simply set it to a very large value.
  
• TrlStart_R: The R level at which the trailing stop activates. If you don’t want to use this functionality then simply set it to a very large value.
  
• TrlSize_R: Control the number of R multiples by which the stop loss trails behind the market. So a value of 1.5 will trail the stop loss 1.5 times the initial risk behind the most extreme move so far.
  
• TrlAdj_R: Set the “granularity” of the adjustments to the trailing stop. So if the value is set to 0.5R, then the stop loss will only be adjusted every time price hits the next 0.5R level.
  
• StopType:
  • Intrabar: The stop loss is adjusted on every tick.
  • OnClose: Adjustments are only made on the close of each bar.
    
• ShowEntryAndStop:
  • True: The EA will draw in the entry and initial stop loss levels as part of the drawing of the R levels.
  • False: The entry and initial stop loss levels will not be shown.
• ShowRLevels:
  • True: The R levels for the trade will be drawn on the chart.
    
  • False: The R levels will be hidden.
• RInterval: The R level increments that you want to see on the chart.
  
• RLast: Set the maximum R value that is drawn on the chart.
  
• NumBarsWidth: Specifies the length of the R-levels plots (in bars) that the lines are drawn.
  
• DeleteLinesOnTradeClose:
  • True: Plot lines are removed once the trade is closed.
  • False: Plot lines will remain on the chart after the trade is closed.
    
• DeleteLinesOnEARemoval:
  • True: Plot lines are removed once the EA is removed from the chart.
  • False: Plot lines remain on the chart after the EA is removed.
    
• LineThickness: Allows you to adjust the thickness of the R level plot lines.
  
• Line_Colour: Choose the color of the R level plot lines.
  
• LineStyle: Pick the style of the R level plot lines (solid, dotted etc.).
  
• Font_size: The size of the font that is used to label the R level plot lines.
• Font_type: Select the font that is used to label the R level plot lines.
• Font_Colour: This specifies the color of the font that is used to label the R level lines.
• LevelLabelOffset: Choose how close the label is drawn to the R level lines.

As you can see, this EA is very flexible and can be tailored to the needs of almost any trader who wants to use a R-multiple trailing stop loss.

$119
$97

Hedge Fund Quality Programming and Support

Are you tired of downloading half-baked Expert Advisors from forums? It can take forever to find one that actually works…and good luck getting support.

When your hard-earned money is on the line, you deserve the very best.

This EA has been custom built from the ground up by Adam Hartley of Snapdragon Systems. Adam has done custom programming for clients like the Tudor Group (Paul Tudor Jones), Barclays Capital and many more.

When you buy this EA, you can be assured that you are getting the highest quality programming at a reasonable price. Snapdragon Systems provides full support for this indicator and you can contact them if you have any questions.

Frequently Asked Questions

Click the “+” symbol to see the answer to each question.

$119
$97