Have you seen the new updated version Colostarr has posted?
Initial Stop Loss (tweaked)
1. Highest High of the last 3 candles, minus the lowest low of the last 3 candles x .764 (Key Fibonacci level)
a. Example: HH3=1.3545; LL3=1.3465 = 80 pips x .764 = 61 pips
b. Stop loss = entry price minus 61 pips
c. (HH3-LL3 x .764 = your initial stop loss)
Trail the stops:
1. If not stopped out or any TP’s are hit move the stop of your open orders to the Lowest Low of the last 3 bars (LL3) minus 3 pips minus spread as new candles form (new higher lows)
2. When TP1 is hit move the stop of existing order to break even (BE).
Target Profits (tweaked)
1. TP1: calculate TP1 entry price plus ATR x .75 (as of the most recently closed candle)
2. TP2: calculate TP2 entry price plus ATR x .95 (as of the most recently closed candle)
Hopefully you can also tweak the existing indicator you created to match the new SL TP rules.
thx,
todd
Initial Stop Loss (tweaked)
1. Highest High of the last 3 candles, minus the lowest low of the last 3 candles x .764 (Key Fibonacci level)
a. Example: HH3=1.3545; LL3=1.3465 = 80 pips x .764 = 61 pips
b. Stop loss = entry price minus 61 pips
c. (HH3-LL3 x .764 = your initial stop loss)
Trail the stops:
1. If not stopped out or any TP’s are hit move the stop of your open orders to the Lowest Low of the last 3 bars (LL3) minus 3 pips minus spread as new candles form (new higher lows)
2. When TP1 is hit move the stop of existing order to break even (BE).
Target Profits (tweaked)
1. TP1: calculate TP1 entry price plus ATR x .75 (as of the most recently closed candle)
2. TP2: calculate TP2 entry price plus ATR x .95 (as of the most recently closed candle)
Hopefully you can also tweak the existing indicator you created to match the new SL TP rules.
thx,
todd