DislikedI've revised the EA to add a third stop and a trailing stop. Although I am an experienced programmer, I am less than a novice with the C language, so please test this revised EA thoroughly before going live. I've changed the name of the EA to MTP1, to differentiate it from Stockwet's version. Here is a description of the changes I've made:
Third_Stop_Target: When this target is hit, your SL will be moved a third time.
Third_Stop: This is where you want your 3rd SL to be placed when the Third_Stop_Target is hit. If the market price never reaches the Third_Stop_Target, but reverses and goes against you, then the trade will be stopped out at the Second_Stop.
Trail_Stop_By: If you want a trailing Stop Loss after the SL is moved a third time, then set this value to the number of pips that you want the Stop Loss to trail the current price. This is a pip by pip trail.
Note: You don’t have to use all three Stop_Targets. The Trailing SL kicks in after the last non-zero target is reached. If all Stop_Targets are 0, then the trailing SL kicks in at order entry.
Ignored
i was just wondering if anyone can verify moneybiz's attempt to add trailing stop loss?
Trailing stop loss really is the business!
I will test it tonight myself if i get a chance to trade!
Thanks and good luck