The Auto Trailing Stop Break-Even is a piece of software designed for the MetaTrader 4 trading platform and can be found on the MQL5 marketplace. We have provided a link to this piece of the software below so you know which piece of software we are actually talking about. The software was originally released back on the 4th of July 2018, there have not been any updates to it so the current version is still version 1.0.
The Auto Trailing Stop and Break-Even is a utility software that can be sued with the MetaTrader 4 trading platform. It was designed as a way to prevent trades from almost hitting the take profits and then dropping back down to stop losses. The tool creates a trailing stop that follows the profitable trade, so when it turns it will take profits.
There are a number of parameters that can be changed to alter the way the software works to suit your trading needs. You can change the broker information, and broker type. You are able to change the break-even configuration, whether you use break-even if it is decided in pips or profits, to use profit protection, trailing stop amounts, when to start and steps to take, and more.
Its a very easy tool to use, with just three easy steps:
- Put the Expert Advisor on the chart where you have the trade that you would like to manage automatically.
- Choose the parameters that you would like to use.
- Make sure that you have the Auto Trading enabled on MetaTrader 4.
This utility will cost you $65 to purchase it outright, there is also an option to rent it which will cost you $35 per month. A free demo version is available, the demo version is limited to only using the EURUSD and USDJPY pairs but it seems that all other functions are working the same as the full version.
There are no reviews available on the website or that we would find around the internet that we could be certain were for this exact piece of software. Due to there being no reviews or ratings we do not know if the software is effective or if it actually does what it says it does. All we can do is recommend that you try out the free version before making a purchase, this way you can be sure that it is functioning correctly and that you are able to get it set up correctly.
This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/29243