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all order trailing stop from order placed point

  • #1
  • First Post: Oct 4, 2009 9:56pm Oct 4, 2009 9:56pm
Has anyone got a script that can sit on MT4 and whenever you place an order trail it from that point for say 20pips. A bit like managetakeprofit but as a trailing stop only.

So order goes 5 pips in profit stop loss moves 5 pips closer from the point of placing the order.

thanks
max
Gravity goes both ways in forex...
  • #2
  • Oct 4, 2009 10:22pm Oct 4, 2009 10:22pm
Hi max pips

You may try this one. Its not a script but an EA.

Good trading to ya mate

~profi~
Attached File(s)
File Type: mq4 StepStopExpert_v1.1.mq4   5 KB | 923 downloads
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #3
  • Oct 5, 2009 7:41pm Oct 5, 2009 7:41pm
ta prof
will give it a go
max
Gravity goes both ways in forex...
  • #4
  • Oct 5, 2009 8:27pm Oct 5, 2009 8:27pm
Quoting max pips
ta prof
will give it a go
max
Ok, that'll do nicely. However what is mindistance?
ta
max
Gravity goes both ways in forex...
  • #5
  • Oct 5, 2009 9:13pm Oct 5, 2009 9:13pm
Hi max

I am not really sure what MinDistance variable stand for. Cant even get more detailed information about the EA even from TSD.

But I think it is the min amount of gap between the current price and new stop level managed by the EA.

Personally, I would use higher value for volatile pair as it will give rooms to breathe. Unless you like to trail tightly.

Surely hope this info will helps you.

~profi~
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #6
  • Edited 9:52pm Oct 5, 2009 9:39pm | Edited 9:52pm
PHP Code
BuyStop = OrderStopLoss()+ StepSize*Point; 
if (Bid - BuyStop >= MinDistance*Point)
               { BuyStop = BuyStop; k=k+1;}
               else
               BuyStop = OrderStopLoss();


SellStop = OrderStopLoss() - StepSize*Point; 
if (SellStop - Ask >= MinDistance*Point)
               { SellStop = SellStop; k=k+1;}
               else
               SellStop = OrderStopLoss();
What it is saying is that the BuyStop is equal to the current stop loss price in the long order plus the stepsize in pips and if the current bid price for a long order minus the BuyStop is greater than or equal to the MinDistance ( minimum Distance in pips) then the Buy Stop will remain unchanged. however, if the current bid price minus the BuyStop is less than the MinDistance, then the buy stop will become the order stop loss price. The reverse is true for the short side.

It is a rather redundant bit of logic, but does work.
  • #7
  • Oct 5, 2009 9:49pm Oct 5, 2009 9:49pm
Quoting smjones
[php]BuyStop = OrderStopLoss()+ StepSize*Point;
if (Bid - BuyStop >= MinDistance*Point)...
And I wonder what the PLAINSPEAK society would have to say about that

Thanks guys, much appreciated
max
Gravity goes both ways in forex...
  • #8
  • Oct 5, 2009 9:57pm Oct 5, 2009 9:57pm
LOL, ok plain speak.


the minimum number of pips that the price must move before the Ea will start trailing the highest price for a long order or lowest price for a short order.
  • #9
  • Oct 5, 2009 10:05pm Oct 5, 2009 10:05pm
Quoting smjones
LOL, ok plain speak.


the minimum number of pips that the price must move before the Ea will start trailing the highest price for a long order or lowest price for a short order.
Thanks mate

so if this was 0, the trailing would begin immeditaely?

max
Gravity goes both ways in forex...
  • #10
  • Oct 5, 2009 10:08pm Oct 5, 2009 10:08pm
Quoting max pips
Thanks mate

so if this was 0, the trailing would begin immeditaely?

max
Yes, according to the logic written.
  • #11
  • Oct 6, 2009 12:00am Oct 6, 2009 12:00am
i think mindistance is the minimum difference between the current price to the stoploss or take profit. for example, for a buy order, if the current price is 1.4567, we cant put stoploss at 1.4566 because it is too close. the minimum clearance depend on brokers.
we can get the value of this mindistance (in Point) using :
int mindistance = MarketInfo(Symbol(),MODE_STOPLEVEL). if the result is 20, then the minimum distance is 20 Point or 2 pips for 5 digit broker.
  • #12
  • Oct 6, 2009 12:53am Oct 6, 2009 12:53am
Quoting sangmane
i think mindistance is the minimum difference between the current price to the stoploss or take profit. for example, for a buy order, if the current price is 1.4567, we cant put stoploss at 1.4566 because it is too close. the minimum clearance depend on brokers.
we can get the value of this mindistance (in Point) using :
int mindistance = MarketInfo(Symbol(),MODE_STOPLEVEL). if the result is 20, then the minimum distance is 20 Point or 2 pips for 5 digit broker.
I looked again at it and I think you are correct and my first interpretation is wrong.
  • #13
  • Oct 8, 2009 2:41pm Oct 8, 2009 2:41pm
what does the "BreakEven" input value represent?
Many choose unhappiness over uncertainty.
  • #14
  • Oct 8, 2009 2:51pm Oct 8, 2009 2:51pm
Quoting Dan Gilbert
what does the "BreakEven" input value represent?

Based on the default value ; 20.0

The Stop Loss value will be move to Entry Price upon reaching 20 pips at your favor.
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #15
  • Last Post: Oct 8, 2009 3:05pm Oct 8, 2009 3:05pm
Quoting profi4554
Based on the default value ; 20.0

The Stop Loss value will be move to Entry Price upon reaching 20 pips at your favor.
Thank you.
Many choose unhappiness over uncertainty.
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