Setting a Trailing Stop in MetaTrader 4

To do this, follow these steps:

1. Open a trade order.
2. In the Terminal panel, right-click on the order. In the context menu that appears, hover the cursor over the Trailing Stop option.
3. In the submenu, select the number of pips by which the price should change for the stop loss to activate. The minimum step cannot be less than 15 points. There is no upper limit. This minimum step restriction makes it difficult to use trailing stops in scalping-based trading systems.
4. To disable an active trailing stop, right-click on the order in the open terminal, go to Trailing Stop in the context menu, and then select None. This will remove the trailing stop from that specific order only. To disable trailing stops on all orders, select Delete All Levels from the menu.

Keep in mind that the Trailing Stop only functions while the terminal is running.

The TS algorithm can easily be enhanced by using specialized Expert Advisors (EAs) for MetaTrader 4.