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Trailing stop for metatrader 4 alpari
What is a trailing stop. When a Trailing Stop is placed, the level of the Stop Loss will change along with price movement. If you open a Buy position, and the price of the instrument increases by a certain number of points, with a Trailing Stop, the level of the Stop Loss will increase as well. If you open a Sell position and the price of the instrument falls, a Trailing Stop order will cause the level of the stop order to decrease as well.
If the position becomes profitable, Stop Loss can be manually shifted to a break-even level. To automate this process, Trailing Stop was created. This tool is especially useful when price changes strongly in the same direction or when it is impossible to watch the market continuously for some reason.Trailing Stop is always attached to an open position and works in client terminal, not at the server like Stop Loss, for example.
Then one has to select the desirable value of distance between the Stop Loss level and the current price in the list opened.