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SL modification problem

  • #1
  • First Post: Oct 8, 2008 8:01pm Oct 8, 2008 8:01pm
My platform is MT4. I use a script to open a position with a SL and a TP. Then I will start an EA immediately for trailing stop. This EA modifies the SL and keeps the TP. The problem is: when the price is about to hit the TP, The SL cannot be modified any more. Using EA, is there a way to modify the SL and keep the TP when the current price is very near to the TP?
Many many thanks for your help.
  • #2
  • Oct 8, 2008 10:58pm Oct 8, 2008 10:58pm
Quoting xecret
My platform is MT4. I use a script to open a position with a SL and a TP. Then I will start an EA immediately for trailing stop. This EA modifies the SL and keeps the TP. The problem is: when the price is about to hit the TP, The SL cannot be modified any more. Using EA, is there a way to modify the SL and keep the TP when the current price is very near to the TP?
Many many thanks for your help.
What error are you receiving?
  • #3
  • Oct 9, 2008 12:26am Oct 9, 2008 12:26am
Quoting Ronald Raygun
What error are you receiving?
Thanks for attention.
It's not any kind of error. It's the rule. Anyway, I added the GetLastError() into the code, and I got error code 1, which is explained as "No error returned, but the result is unknown."
"Order's StopLoss and TakeProfit cannot be placed closer to the market price than the minimum distance. " The minimum distance is MarketInfo(Symbol(),MODE_STOPLEVEL), no pending price can be closer to the current price than it, no matter it's stoploss or takeprofit of a market order, or openprice of a pending order. This minimum distance is defined by the broker and it varies for different brokers. It can be 2 or 3 or even to 10 pips. My broker set it as 3 pips. That it to say, when you want to place any SL or TP which is closer than 3 pips to the current price (Bid or Ask, depends on the direction), the client will not pass the command to the server, coz it does not meet the requirement of the broker.
When the SL is necessary to be changed, OrderModify() funtion is used. The format of it is as:
OrderModify(int ticket, double price, double stoploss, double takeprofit, datetime expiration, color arrow_color=CLR_NONE)
The parameters without default value need to be specified. I have to place a takeprofit value in it, even I'm not changing it. The problem happens, when the price is closer to the TP than the minimum distance, just because of the TP value, I cannot change the SL.
I'm not sure I made it clear or not.
Thanks.
  • #4
  • Oct 9, 2008 12:28am Oct 9, 2008 12:28am
Ordermodify error 1 I generally get whenever I use my ATR stop.

Are you using normalizedouble?
  • #5
  • Oct 9, 2008 12:41am Oct 9, 2008 12:41am
Quoting Ronald Raygun
Ordermodify error 1 I generally get whenever I use my ATR stop.

Are you using normalizedouble?
No i didn't. It should not have fractional pip since i didn't use function related to division. Anyway, let me try to use it.
Does error1 mean the format of command does not meet requirement. From your and my case, the common part is this point.
Thx.
  • #6
  • Oct 9, 2008 5:04pm Oct 9, 2008 5:04pm
Quoting xecret
My platform is MT4. I use a script to open a position with a SL and a TP. Then I will start an EA immediately for trailing stop. This EA modifies the SL and keeps the TP. The problem is: when the price is about to hit the TP, The SL cannot be modified any more. Using EA, is there a way to modify the SL and keep the TP when the current price is very near to the TP?
Many many thanks for your help.
If I understand you correctly you are trying to modify ONLY the stop loss. If you place an order modify code you have to list a "0" in the area where your Take Profit will be. Otherwise, the EA will send the order into the server and if the current price is within the spread ie 2-5 pips of the take profit it will not let you modify the order. so the order modify command should look something like this:
orderModify(OrderTicket(),OrderOpenPrice(),NEW STOP LOSS VALUE,0,0,red);

This will change ONLY the stop loss and not send a new order to change the take profit also. Hope this helps
  • #7
  • Last Post: Oct 9, 2008 7:31pm Oct 9, 2008 7:31pm
Quoting gspajon
If I understand you correctly you are trying to modify ONLY the stop loss. If you place an order modify code you have to list a "0" in the area where your Take Profit will be. Otherwise, the EA will send the order into the server and if the current price is within the spread ie 2-5 pips of the take profit it will not let you modify the order. so the order modify command should look something like this:
orderModify(OrderTicket(),OrderOpenPrice(),NEW STOP LOSS VALUE,0,0,red);

This will change ONLY the stop loss and not send a new order to change the take profit also. Hope this helps
Yes, you understood me well. The way you suggested can really modify the SL as expected. But, what is expected is not only to modify the SL but also to keep the old TP. If a "0" is carried as the TP in the OrderModify(), the TP will really become "0", i.e. there will be no TP after the SL is modified. In this way, I have to add some code to monitor the order close for TP.
Thanks.
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