True Trail Stop!!!! | Forex Factory

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True Trail Stop!!!!

  • #1
  • First Post: Jan 5, 2010 10:54am Jan 5, 2010 10:54am
I am looking for a trail stop that starts trailing AS SOON as the order is placed....not once in profit X number of pips. I can't seem to find one on here let me know if anyone can help me with this!

-Thanks!
  • #2
  • Jan 5, 2010 10:56am Jan 5, 2010 10:56am
Hope I can help. It works flawlessly!
Attached File(s)
File Type: ex4 TrailingStopEA.ex4   8 KB | 362 downloads
  • #3
  • Jan 5, 2010 10:59am Jan 5, 2010 10:59am
Quoting chano12
Hope I can help. It works flawlessly!
checking it out now!!!
I am with FXCM with a 5 digit account so I am not sure if I will need to adapt it...ill let you know
  • #4
  • Jan 5, 2010 11:05am Jan 5, 2010 11:05am
Just add a 0 (zero).

For example, if you want to trail 5 pips, put 50 in TrailingStop and so on.

I use also 5 digit broker
  • #5
  • Jan 5, 2010 11:05am Jan 5, 2010 11:05am
OK! Looks good!

Few questions:
The options to manage all trades....If i set "true" will each trade have a trail stop from each trades own starting point and all have independent stop losses or will they all have the same stop?

If profit trailing is false will that manage the trade immediately?
  • #6
  • Jan 5, 2010 11:08am Jan 5, 2010 11:08am
Quoting drumdude
OK! Looks good!

Few questions:
The options to manage all trades....If i set "true" will each trade have a trail stop from each trades own starting point and all have independent stop losses or will they all have the same stop?

If profit trailing is false will that manage the trade immediately?

If manage all trades "true" each trade will have independent TS from it's own starting point.

In regards to profit trailing "false" I guess so, I haven't tried that function.
  • #7
  • Jan 5, 2010 11:11am Jan 5, 2010 11:11am
Quoting chano12
If manage all trades "true" each trade will have independent TS from it's own starting point.

In regards to profit trailing "false" I guess so, I haven't tried that function.
awesome! I am trying it demo right now
  • #8
  • Jan 5, 2010 11:48am Jan 5, 2010 11:48am
Hi,
I don't know if this is the same EA, but I thought I can post it as it's an uncompiled version..

Also, I have just added some lines (TrailingStop2) today so that I can automatically stop trailing at desired value - e.g. just enter
TrailingStop=100
StopTrailingAt=0.5
if the position should only be trailed till the SL is 50 pips in Plus.

Well I hope this also works with TrailingStep set to other things than 1, but I think it should.. Test it

btw I think this is not possible, but if anybody has an idea how to do it:
Can I remove an EA from the chart automatically, e.g.
if (this happens)
deinit/close/whatever
???



Lowen
Attached File(s)
File Type: mq4 TrailingStop.mq4   9 KB | 310 downloads
File Type: mq4 TrailingStop2.mq4   9 KB | 351 downloads
  • #9
  • Jan 5, 2010 12:29pm Jan 5, 2010 12:29pm
Thanks Lowen... I'll post the .mq4 file right now. What I need of this EA also is an initial StopLoss.

Can it be coded into this EA? For example, close an order if trend goes against us, and stop the order at X loss pips.

Thanks in advance!
Attached File(s)
File Type: mq4 TrailingStop.mq4   7 KB | 359 downloads
  • #10
  • Jan 5, 2010 12:48pm Jan 5, 2010 12:48pm
Hello Drumdude

The Multi-Purpose Trade Manager by SteveHopwood here on FF does exactly what you need.
http://www.forexfactory.com/showthread.php?t=89371
The instant trailing stop loss functions as soon as the order is placed.
A set stop loss funtion, and many other functions are there as well, a really great all-in-one tool.

Ron
  • #11
  • Jan 5, 2010 12:54pm Jan 5, 2010 12:54pm
Thanks to all who have helped!! I think I have it working
  • #12
  • Jan 5, 2010 1:01pm Jan 5, 2010 1:01pm
Hmm, that code from your TRailingStop.mq4 looks a bit more confusing than the one from my mql..
But same coder, one must be a newer or customized version..

As I understand (maybe you have to turn "ProfitTrailing" to false), the following lines tells the EA to set the initial SL to the calculated value from "TRailingStop", isn't it working?
Inserted Code
if (l_ord_stoploss_4 == 0.0) {
                     OrderModify(OrderTicket(), OrderOpenPrice(), l_price_12, OrderTakeProfit(), 0, Red);
                     return;
  • #13
  • Last Post: Jan 5, 2010 2:45pm Jan 5, 2010 2:45pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Ah great, very parctical indeed, was also looking for it!
Should also be practical for speculative news/spike trades (do so at own risk).
Will test on a demo first, cheers!
Being right is one, taking it from the table is two.
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