Anyone know of a way to set this kind of trailing stop? | Forex Factory

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Anyone know of a way to set this kind of trailing stop?

  • #1
  • First Post: Jul 17, 2008 2:48pm Jul 17, 2008 2:48pm
I have a system that calls for an initial 15 pip stop, i.e. when the price moves 15 pips in favor the stop is moved 15 pips up- but it's not a pip-by-pip trailing stop. The stop can only be moved once the price hits pip #30, 45, 60, etc.

I hope this makes sense...
Is your SL my TP?
  • #2
  • Jul 17, 2008 3:23pm Jul 17, 2008 3:23pm
I'm not an expert but here's my take...hopefully this will all by in mql, but some other C++ derivatives might slip in..

Create an array of the values you'd like to adjust your SL at...
Inserted Code
int Slarray = [15,30,45,60];
For (i)
{
if(TrailingStop>0)  
{                 
if(Bid-OrderOpenPrice()=SLarray(i))
{
if(OrderStopLoss()<Bid-Point*SLarray(i))
                    {
                     OrderModify(OrderTicket(),OrderOpenPrice(),Bid-Point*TrailingStop,OrderTakeProfit(),0,Green);
                     return(0);
                    }
                 }

something like that...i have to run and just put this together...hopefully you can fix it up yourself or someone else can fix my mistakes...

best of luck.
  • #3
  • Jul 17, 2008 3:30pm Jul 17, 2008 3:30pm
Thanks, friend. I'll work with it.
Is your SL my TP?
  • #4
  • Jul 17, 2008 3:41pm Jul 17, 2008 3:41pm
I just found this one. Been trying it today. It move sl in chunks (steps)
vs moving pip by pip. I don't know the function of "MinDistance".
If anyone does please let us know.

Jim
Attached File(s)
File Type: mq4 StepStopExpert_v1.1.mq4   5 KB | 308 downloads
  • #5
  • Jul 17, 2008 3:48pm Jul 17, 2008 3:48pm
I just found a couple of them that I'd already had on my platform that allow steps, but I can't tell exactly what they're doing. I'll test the one you posted along with them.

Thanks!
Is your SL my TP?
  • #6
  • Last Post: Jul 17, 2008 3:52pm Jul 17, 2008 3:52pm
Thanks Ken.
Let us know what you find.

Jim
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