Envelopes Trailing Stop
- Utilities
- Oleg Remizov
- Version: 1.25
- Updated: 31 March 2020
- Activations: 5
The Envelopes Trailing Stop is a tool that implements trailing of the stop loss order after the price based on the Envelopes trend indicator.
The utility provides all the necessary parameters for customization, which allows to select the optimal configuration for any user.
The EA allows to choose the trailing line depending on the type of the trade. For example, buy trades can be trailed based on the lower line of the indicator, and sell trades can be trailed based on the upper line.
The Magic parameter allows to simultaneously work with other experts on the account.
Input parameters
- Magic - magic number: 0 - trailing of all trades, 1>= - trailing of trades with the specified Magic;
- Stop Level - stop level;
- Slippage - slippage;
- ENVELOPES SETTINGS - settings of trailing based on the Envelopes indicator;
- Use Envelopes Trailing - use trailing based n the Envelopes indicator;
- Envelopes Timeframe - timeframe of the indicator;
- Envelopes Period - period of the indicator;
- Envelopes Type - method of the indicator;;
- Envelopes Applied Price - applied price;
- Envelopes Buy Line - line for trailing buy trades;
- Envelopes Sell Line - line for trailing sell trades;
- Envelopes Deviation - deviation of the indicator;
- Envelopes Shift - shift of the indicator;
- Envelopes Symbol - trading instrument: CurrentSymbol - current instrument, AllSymbols - all instruments.
I have used several trailing stop products over the years and this is by far the best trailing stop on the market. It does the job and is not overly complicated. I highly recommend it.
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Update 2 months later. Of the several I have tried, the Envelopes Trailing Stop is the best for me as it trails the shorts and longs separately: upper band for short stop loss, lower band for long stop loss.
I currently run this on about 30 charts as my trading system allows me to trade any of the currency pairs and CFDs with long term trends on D1 charts, Renko charts, and from time to time some other auto traders.
I work a full time job in remote places in the oil and gas industry so it is important to me that I have trailing stops working 24 hours. This allows me to trade the Asian, European, and US market hours with confidence that a Envolopes Trailing Stop will watch my back.