ATR Trailing Stop method - these are the ATR trailing stop functions I use to calculate my automatic stops. Aspects within this code that need to be added are the checking of the Trading Content being free and (optional) better error reporting.

getATRTrailingStop.mq4

//+------------------------------------------------------------------+
//| calculate-atr-trailing-stop.mq4
//| Copyright 2013, Currency Secrets
//| http://www.currencysecrets.com
//+------------------------------------------------------------------+
#property copyright "Copyright 2013, Currency Secrets"
#property link      "http://www.currencysecrets.com"

//--- input parameters
extern int extLookBack = 50; // bars to look back for the ATR indicator
extern double extATRMult = 2; // ATR multiplier
extern int extSlippage = 10; // slippage allowed for trades

int start() {
    string sym = Symbol();
	int per = PERIOD_H4;

	// entry logic here ...
	// ...
	// end entry logic!

	// checking open trades here on every tick...
	checkOpenTrades( per, sym );
	// end check of open trades on every tick!

	return(0);
}

void checkOpenTrades( int per, string sym = "" ) {
	if ( sym == "" ) { sym = Symbol(); }
	int t = OrdersTotal();
	double stop, trail;
	for ( int i = 0; i < t; i += 1 ) {
		if ( OrderSelect( i, SELECT_BY_POS, MODE_TRADES) ) {
			if ( OrderSymbol() == sym ) {
				stop = OrderStopLoss(); // current stop loss of order
				if ( OrderType() == OP_BUY ) {
					// we have an active long position

					// ideally this is the best and only way to go...
					trail = Ask - getStopDist( per );
					// ... however, we will also check this method too...
					trail = MathMax( trail, getTrailingStop( per, OrderOpenTime(), true, sym ) );

					// check if there's a difference of a least one point in our favour - otherwise don't worry about it
					if ( trail - stop > Point ) {
						// check trade context...
						// ...
						// end check trade content

						// check stop price isn't too close to market
						if ( Bid - trail > MarketInfo( sym, MODE_STOPLEVEL ) * Point ) {
							// modify active order's stop price
							if ( OrderModify( OrderTicket(), OrderOpenPrice(), trail, OrderTakeProfit(), 0 ) == false ) {
								// ALERT ERROR!
								Print( "ERR in MOD LONG trade for " + sym + " = " + GetLastError() );
							}
						} else {
							// otherwise may want to check to see if you can exit at market if too close
							if ( trail > Bid ) {
								if ( OrderClose( OrderTicket(), OrderLots(), Bid, extSlippage ) == false ) {
									Print( "ERR in CLOSE LONG at market for " + sym + " = " + GetLastError() );
								}
							}
						}
					}
				}
				if ( OrderType() == OP_SELL ) {
					// we have an active short position

					// ideally this is the best and only way to go...
					trail = Bid + getStopDist( per );
					// ... however, we will check this method too...
					trail = MathMin( trail, getTrailingStop( per, OrderOpenTime(), false, sym ) );

					// check if there's a difference of a least one point in our favour - otherwise don't worry about it
					if ( stop - trail > Point ) {
						// check trade context...
						// ...
						// end check trade context

						// check stop price isn't too close to market
						if ( trail - Ask > MarketInfo( sym, MODE_STOPLEVEL ) * Point ) {
							// modify active order's stop price
							if ( OrderModify( OrderTicket(), OrderOpenPrice(), trail, OrderTakeProfit(), 0 ) == false ) {
								// ALERT ERROR!
								Print( "ERR in MOD SHORT trade for " + sym + " = " + GetLastError() );
							}
						} else {
							// otherwise may want to see if you can exit at market if too close
							if ( Ask > trail ) {
								if ( OrderClose( OrderTicket(), OrderLots(), Ask, extSlippage ) == false ) {
									Print( "ERR in CLOSE SHORT at market for " + sym + " = " + GetLastError() );
								}
							}
						}
					}
				}
			}
		}
	}
}

double getStopDist( int per, int bar = 1, string sym = "" ) {
	if ( sym == "" ) { sym = Symbol(); }
	return( N( extATRMult * iATR( sym, per, extLookBack, bar ) ) );
}

double getTrailingStop( int per, datetime openTime, bool isLong, string sym = "" ) {
	if ( sym == "" ) { sym = Symbol(); }
	// this function will return the trailing stop of the symbol
	// dir = TRUE for longs; FALSE for shorts
	double result;
	int startBar = getOpenBar( openTime, per );
	if ( isLong ) { 
		result = iHigh( sym, per, startBar ) - getStopDist( per, startBar, sym );
	} else {
		result = iLow( sym, per, startBar ) + getStopDist( per, startBar, sym );
	}
	for ( int i = startBar; i > 0; i -= 1 ) {
		if ( isLong ) {
			// for LONG orders
			// loop through the bars since opentime
			result = MathMax( iHigh( sym, per, i ) - getStopDist( per, i, sym ), result );
		} else {
			// for SHORT orders
			result = MathMin( iLow( sym, per, i ) + getStopDist( per, i, sym ), result );
		}
	}
	return( N( result ) );
}


int getOpenBar( datetime openTime, int per, string sym = "" ) {
	if ( sym == "" ) { sym = Symbol(); }
	// each bar has the opening time at the start of the bar
	// eg if openTime is 12:01PM we will know at 4:00PM (when the
	// bar is greater than the opening time of trade)
	int b = iBars( sym, per );
	for ( int i = 0; i < b; i += 1 ) {
		if ( openTime >= iTime( sym, per, i ) ) {
			return( i );
		}
	}
	return( 0 );
}


double N( double price, int num = -1 ) {
	if ( num == -1 ) { num = Digits; }
	return( NormalizeDouble( price, num ) );
}

Is there any way to add activation only when a defined number of pips in profit? Thanks!