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Request trailing takeprofit indicator or ea

  • #21
  • Edited 9:11pm Nov 7, 2019 5:53pm | Edited 9:11pm
Quoting mladen
{quote} Try it in trading
I don't think you understand, it's a trailing limit order. Cja already made ea of trailing limit order

Only difference is trailing TP closes a position that is already open instead of opening new position ( like a stop loss is a stop order that closes a position instead of opening a new one).

Seems people have hard time understanding this concept?
  • #22
  • Nov 11, 2019 12:12pm Nov 11, 2019 12:12pm
Quoting BubaYaga
{quote} I don't think you understand, it's a trailing limit order. Cja already made ea of trailing limit order Only difference is trailing TP closes a position that is already open instead of opening new position ( like a stop loss is a stop order that closes a position instead of opening a new one). Seems people have hard time understanding this concept?
Seems that simple sentences like "Try it in trading" are out of comprehension reach in some cases (I assuming that they (the sentence(s) are understood). Whatever ...
All the best
  • #23
  • Nov 12, 2019 3:27am Nov 12, 2019 3:27am
Quoting mladen
{quote} Seems that simple sentences like "Try it in trading" are out of comprehension reach in some cases (I assuming that they (the sentence(s) are understood). Whatever ... All the best
"Try it in trading" - try what in trading? The imaginary trailing take profit EA?

Alright mladen, I will try the non- existent trailing tp EA in trading. Thank's so much for this valuable input.

All the best to you also..
  • #24
  • Oct 12, 2020 10:38pm Oct 12, 2020 10:38pm
Quoting mladen
No such thing as trailing take profit (trail -> tp trailing price, even by definition it is not possible, or, if it is happening change your broker ASAP)
Of course it is possible by definition.
Trailing take profit only moves as trade increases in drawdown, possibly going negative and becoming a trailing take loss.

Seems a lot of people like mladen are confusing this with an order that moves away as price gets closer.
It's bad luck to be superstitious
  • #25
  • Oct 12, 2020 10:49pm Oct 12, 2020 10:49pm
Quoting zoo
{quote} Of course it is possible by definition. Trailing take profit only moves as trade increases in drawdown, possibly going negative and becoming a trailing take loss. Seems a lot of people like mladen are confusing this with an order that moves away as price gets closer.
Literally just a trailing limit order..
It's bad luck to be superstitious
  • #26
  • Oct 13, 2020 4:50am Oct 13, 2020 4:50am
Quoting zoo
{quote} Literally just a trailing limit order..
Yeah, concept was a bit too confusing for some.

Solution I came up with was to use this ea (made by cja) as a take profit order.

But must be on a netting account of course. If you have a hedging account you need to contact your broker and ask them to change it to netting.

Have a great day.
Attached File(s)
File Type: ex4 Trailing Limit Orders.ex4   4 KB | 567 downloads
  • #27
  • Oct 17, 2020 2:39pm Oct 17, 2020 2:39pm
Quoting zoo
{quote} Of course it is possible by definition. Trailing take profit only moves as trade increases in drawdown, possibly going negative and becoming a trailing take loss. Seems a lot of people like mladen are confusing this with an order that moves away as price gets closer.
I have nothing to add to my previous answers ...
  • #28
  • Oct 17, 2020 7:12pm Oct 17, 2020 7:12pm
The Close-By facility allows traders to close two hedged orders by cancelling each other out.

It’s worth noting that if a broker has disabled this option in their MT4 server the Close-by option will not appear.

Attached Image (click to enlarge)
Click to Enlarge Name: Close-by-option-768x388.png Size: 103 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Close-by-option-2-768x380.png Size: 93 KB
  • #29
  • Oct 17, 2020 7:23pm Oct 17, 2020 7:23pm
Quoting mladen
{quote} I have nothing to add to my previous answers ...
Assuming your broker has "Close-by" function enabled.
Is it possible to create an Expert Advisor?
As soon as a hedged position become established, execute a "Close-by" order to close both positions.

This EA would enable an MetaTrader4 account with "Close by" function enabled, to become auto-netting.
  • #30
  • Oct 25, 2020 4:47pm Oct 25, 2020 4:47pm
If you use a trailing stop loss in conjunction with trailing take profit, as price moves moves around, going lower and then moving higher. The trailing orders strangle in on price until one gets triggered.
-It is an interesting idea.
  • #31
  • Oct 25, 2020 6:37pm Oct 25, 2020 6:37pm
It is a shame the coder's who commented were not very helpful.
  • #32
  • Dec 3, 2021 5:08pm Dec 3, 2021 5:08pm
Quoting mladen
{quote} I have nothing to add to my previous answers ...
ROFL
  • #33
  • Dec 3, 2021 5:17pm Dec 3, 2021 5:17pm
Quoting Horne
If you use a trailing stop loss in conjunction with trailing take profit, as price moves moves around, going lower and then moving higher. The trailing orders strangle in on price until one gets triggered. -It is an interesting idea.
i sometimes do this manually with stop/limit orders, or once the orders are established by dragging around the tp sl values on the chart, doing it visually odffers th ebenefit of backing away oif you decide the trend is not reversing, good for options that have hiogh costs to open . i think an ea wouldnt consider market trend and just lower it as it was programmed to do and youd get stopped out mush sooner than if u went by price action
  • #34
  • Sep 12, 2022 4:28pm Sep 12, 2022 4:28pm
Quoting mladen
No such thing as trailing take profit (trail -> tp trailing price, even by definition it is not possible, or, if it is happening change your broker ASAP)
Of course it is possible, what an absurd thing to say.
It dose not move as price approaches it, only when price moves away.
I've been manually trailing my take profit orders for years. That is the only way I exit my trades now. I haven't used a stop loss in a long time..
  • #35
  • Sep 20, 2022 7:46pm Sep 20, 2022 7:46pm
Quoting mladen
{quote} Try it in trading
alright, I'll "try it in trading"with an example.

XAUUSD entry buy @1665.37
take profit is 1695.37 (will make this a 300 pip trailing tp)

(distance between current price and tp may be less than 300 pips, but not greater than 300 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: gold trailing tp eg.png Size: 48 KB
  • #36
  • Sep 21, 2022 5:42pm Sep 21, 2022 5:42pm
Quoting mladen
{quote} Try it in trading
The trade had a drawdown of 116.7 pips.
This brought the trailing tp 116.7 pips lower (originally @1695.37 down to 1683.7)
Price came back up after the draw down and hit the trailing take profit @ 1683.7
Closed +183.3pips
Attached Image (click to enlarge)
Click to Enlarge Name: gold trailing tp eg.png Size: 48 KB
  • #37
  • Sep 21, 2022 5:48pm Sep 21, 2022 5:48pm
Quoting BubaYaga
{quote} The trade had a drawdown of 116.7 pips. This brought the trailing tp 116.7 pips lower (originally @1695.37 down to 1683.7) Price came back up after the draw down and hit the trailing take profit @ 1683.7 Closed +183.3pips {image}
and well done
people leave, but this thread will go on for ever
  • #38
  • Jun 3, 2024 1:01am Jun 3, 2024 1:01am
i still cant find a single trande manager that has this option..

i want a "leading TP and a trailing SL" the idea is the stop loss never moves back only forword locking in profits.. but every time your tp gets withing say 10 pips it moves up.. thus allowing you to follow the trend as far as it will take you..

example i set a trade with a 100 pip target.. at breakeven+ 30 pips a trailing TP is set.. and follows my trade say it gets within 10 or 15 pips of that 100 mark.. now the leading tp kicks in..bumping the tp 50 or so pips.. untill the TSL gets triggered or the price gets close again in that case it bumps up again.. thus on a major move you can get ALL the pips..
  • #39
  • Jun 3, 2024 4:17am Jun 3, 2024 4:17am
Quoting DiabolicGamb
i still cant find a single trande manager that has this option.. i want a "leading TP and a trailing SL" the idea is the stop loss never moves back only forword locking in profits.. but every time your tp gets withing say 10 pips it moves up.. thus allowing you to follow the trend as far as it will take you.. example i set a trade with a 100 pip target.. at breakeven+ 30 pips a trailing TP is set.. and follows my trade say it gets within 10 or 15 pips of that 100 mark.. now the leading tp kicks in..bumping the tp 50 or so pips.. untill the TSL gets...
If you're moving up your TP as soon as the price gets close to it, then your TP is useless and should not even be used as it will never get hit. Just trail your SL as according to your description, it's the only one to be hit.
MT4/MT5 EAs/Indicators/Alerts coder
  • #40
  • Jun 11, 2024 2:28pm Jun 11, 2024 2:28pm
yes you stop loss gets hit.. but it only ever moves up following the tp say i have a 30 point spread.. price is 100 for ease or explaining 15 for the sl(85) and 15 for the tp(115).. in the ideal world when the tp moves up the sl follows.. so the price moves up 20 price(120) .. the tp instead of triggering moved up aswell to TP(135) so the SL would be SL(105) locking in 5 points now say the market retracts sharply 10 points to price(110) the tp would remain stationary .. the tp and the sl only ever go forward.. but the relationship between then grows after breakeven + the original TPx2.. so market moved back up Price (130) the tp would then at that point essensialy vanish having served its purpose. and now you just have a trailing Stop at 15 points.. untill the TP went X2 again.. this would be price 160 at that point your tp would move one last time to 30 points trailing to give the market room to expand and contract while riding the wave hopefully up..

the system when modeled minimizes the potential downsides of a trailing stop and is made for a tranding market.. but the potential to catch a massive win is insane.. the issue is coding.. that is a lot of conditions and each one needs to be able to be modded accordingly.. this setup would eliminate the need for a TP 1 2 3 and just let you catch the whole wave with your original lot size not 25% of it.

yes its not straight forword. but model it out yourself.. back test it.. it works. and it works for scalping or swing trading.. the problem is getting is automated. and it should be done in stealth mode too ( no actual tp or sl registered on the order all managed by the EA) untill it opens that 2x trailing sl then that is the last real adjustment and the trade just rides the wave

so in short the equivalent of your tp1 is always locked in your tp2 dosent lock untill your tp 3 would be triggered.. and then the diffrence between tp2 and tp3 is your trailing sl only you still have your full position.. and if the market reverses your trailing stop kicks in and protects your equity.
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