Hey guys,
I am looking for a specific trailing stop EA, which I haven't seen so far on any website.
Just for a note, there are two popular, superior experts which I use very frequently:
http://www.forexfactory.com/showthre...67#post3677367
http://www.forexfactory.com/showthread.php?t=89371
Many thanks for Caveman, SteveHopwood and contributors for coding them.
What I am looking for?
First of all, it is an instant trailing stop. A stop which instantly follow the price by a particular distance. Could be found in MPTM by the second link above.
One of my strategies includes R:R ratio 1:1. Of course, because of taken commission, the reward figure tend to be lower than 1.
Therefore, at the beginning I want to trail my position by 1 or 2 pips in order to get a real 1:1 ratio most of the time. (additional 1.5 pips will be enough to cover my commission)
Nevertheless, I cannot expect much more than this from such a short trailing stop. In order to use trailing stop rationally, we have to give price a space to breathe.
So, let say I've got both SL and TP = 15 pips >>>
First, I want to trail my position by 2 pips.
When I will reach 21 pip profit, I want to start trailing my position by 4 pips. (which means that I will secure a precise R:R ratio 1:1 having 17 pip profit anyway)
And finally, when 25 pip will be hit, start trailing by 8 pip similarly with instant trailing stop. Again, it will never be less than 17 pip and the space of 8 pips increases a chance to hit some serious TP.
It is just a rough numerical example. Basically, I need an instant trailing stop which is managed in 3 stages.
If someone has ever seen an expert like this, please post it or PM me with link to another website.
In case if someone would like to code this EA, it will be highly appreciated.
Many thanks,
Arthur
I am looking for a specific trailing stop EA, which I haven't seen so far on any website.
Just for a note, there are two popular, superior experts which I use very frequently:
http://www.forexfactory.com/showthre...67#post3677367
http://www.forexfactory.com/showthread.php?t=89371
Many thanks for Caveman, SteveHopwood and contributors for coding them.
What I am looking for?
First of all, it is an instant trailing stop. A stop which instantly follow the price by a particular distance. Could be found in MPTM by the second link above.
One of my strategies includes R:R ratio 1:1. Of course, because of taken commission, the reward figure tend to be lower than 1.
Therefore, at the beginning I want to trail my position by 1 or 2 pips in order to get a real 1:1 ratio most of the time. (additional 1.5 pips will be enough to cover my commission)
Nevertheless, I cannot expect much more than this from such a short trailing stop. In order to use trailing stop rationally, we have to give price a space to breathe.
So, let say I've got both SL and TP = 15 pips >>>
First, I want to trail my position by 2 pips.
When I will reach 21 pip profit, I want to start trailing my position by 4 pips. (which means that I will secure a precise R:R ratio 1:1 having 17 pip profit anyway)
And finally, when 25 pip will be hit, start trailing by 8 pip similarly with instant trailing stop. Again, it will never be less than 17 pip and the space of 8 pips increases a chance to hit some serious TP.
It is just a rough numerical example. Basically, I need an instant trailing stop which is managed in 3 stages.
If someone has ever seen an expert like this, please post it or PM me with link to another website.
In case if someone would like to code this EA, it will be highly appreciated.
Many thanks,
Arthur