Looking for an unusual trailing stop EA

Hey guys,


I am looking for a specific trailing stop EA, which I haven't seen so far on any website.


Just for a note, there are two popular, superior experts which I use very frequently:

http://www.forexfactory.com/showthre...67#post3677367

http://www.forexfactory.com/showthread.php?t=89371

Many thanks for Caveman, SteveHopwood and contributors for coding them.


What I am looking for?

First of all, it is an instant trailing stop. A stop which instantly follow the price by a particular distance. Could be found in MPTM by the second link above.


One of my strategies includes R:R ratio 1:1. Of course, because of taken commission, the reward figure tend to be lower than 1.

Therefore, at the beginning I want to trail my position by 1 or 2 pips in order to get a real 1:1 ratio most of the time. (additional 1.5 pips will be enough to cover my commission)

Nevertheless, I cannot expect much more than this from such a short trailing stop. In order to use trailing stop rationally, we have to give price a space to breathe.


So, let say I've got both SL and TP = 15 pips >>>

First, I want to trail my position by 2 pips.

When I will reach 21 pip profit, I want to start trailing my position by 4 pips. (which means that I will secure a precise R:R ratio 1:1 having 17 pip profit anyway)

And finally, when 25 pip will be hit, start trailing by 8 pip similarly with instant trailing stop. Again, it will never be less than 17 pip and the space of 8 pips increases a chance to hit some serious TP.


It is just a rough numerical example. Basically, I need an instant trailing stop which is managed in 3 stages.

If someone has ever seen an expert like this, please post it or PM me with link to another website.

In case if someone would like to code this EA, it will be highly appreciated.


Many thanks,
Arthur

Hello Arthur:


Therefore, at the beginning I want to trail my position by 1 or 2 pips

Create First Instance of MPTM (MPTM-1):
Use Instant Trailing Stop set at -15 pips and for the 2-pip jump set the FiveDigitInterval to "20" which creates a 2 pip trailer on 5-digit brokers and do not set stop trail at breakeven. Set Stop Instant Trail at +20 pips (if I have this correct that you want the 2 pip trail starting at -15 all the way to +20 pips).


This So, let say I've got SL=15 pips

On MPTM-1 instance also input add missing stop loss at -15. This MPTM could also have a hidden TP or add missing hard platform TP if desired (but you want to let the trade to basically run as I understand until the jump 8 takes it out).


When I will get 21 pip profit, I want to start trailing my position by 4 pips.

Create Second Instance of MPTM (MPTM-2):
Use BreakEvenPips set to 21 with BreakEvenProfit set to 17. This will hold your stop loss at +17 pips upon achieving =21 pips profit. Unfortunately there is no way to set trailing stop loss to activate in positive territory i.e. start at +20 and end at +25, so this is a minor compromise for your range between +20 through +25 pips. But you could probably live functionally just as well holding the sl at +17, since +25 is just around the corner anyway. I see no way to get around your intermediate range desires of range +20-25, that is with MPTM. (This is actually not absolutely true as you could use continued further instances of -3 through -n of additional layered MPTM's as described below to fill the range of +20 through +25, at least I could fill in those gaps of +20 through +25 if I wanted to and probably exactly as you requested, but the idea is that you take over from here based on your personal limits for approximation per your request).

And finally, when 25 pip will be hit, start trailing by 8 pip jumping stop.

On same MPTM-2 instance, set Jumping Stop Loss to 8 pips, settings are true add BEP (which we set to +17 above, so first jump is +17 plus +8 thereafter jumps at every +8), and true set to JumpAfter BreakevenOnly (which we set at +17). This will take care or your jumping at steps of +8 continuously where the trade criteria is once reached of profit +21. This jump stop will jump first from 21 pips (not from +25). So the next jump would be +21 plus +8 equals at 29 pips, your stop loss being set to +21 pips. Rinse and repeat at further +8 jumps of your SL until you'r out, one way or another.

You'll have to figure this one out for yourself. As I see it 95%-plus of your requests can be made with 2 (or more) separate instances of MPTM. Its up to you but if you take home one message is that you can expand your creativity to include the possibilities of multi-MPTM instances. Just make sure your lower level MPTM instance is "shut off" (i.e. actions completed) before the next higher level instance is activated, for those commands of the lower level instance that are no longer applicable or needed. Many of these non-typical trailing and jumping stop loss issues can be recreated so with nearly equivalent functionality for similar stepped stop loss processing.

Hope this helps,
Ron

Arthur:

OK, to fill in the above details anyway for those interested, that is to exactly complete the gap between +20 and +25:

Create Third Instance of MPTM (MPTM-3):
Use BreakEvenPips set to 22 with BreakEvenProfit set to 18.

Create Fourth Instance of MPTM (MPTM-4):
Use BreakEvenPips set to 23 with BreakEvenProfit set to 19.

Create Fifth Instance of MPTM (MPTM-5):
Use BreakEvenPips set to 24 with BreakEvenProfit set to 20.

Create Sixth Instance of MPTM (MPTM-6):
Use BreakEvenPips set to 25 with BreakEvenProfit set to 21.

After that the instance MPTM-2 takes over and provides the Jumping Stop Loss increment 8, followed until you're out one way or another (but see below to void instance MPTM-2 and it replace it at the more proper level of instance MPTM-6 if desired).

Following, in this case to be more exact, set Jumping Stop Loss to 8 pips on Instance MPTM-6 and remove it from instance MPTM-2, the new instance MPTM-6 settings are true add BEP (which we now set to +21, so first jump is +21 plus +8 thereafter jumps at every +8), and true set to JumpAfter BreakevenOnly (which we set at +21). I believe this is nearly exact (or exactly exact) per your request now. Don't worry about whether my numbers are spot on or not, it's the principle which counts. I'm not suggesting to get this complicated. In fact I personally would seek a compromise with a very limited number of MPTM-layers versus the desired outcome. I'm just suggesting the multi-layered MPTM possibilities are there. And they can be made as exact as needed.

Ron

Hey Ron!


Thank you very much for such a detailed and clear explanation.

I didn't think about layering several MPTM's before. I'll try it out soon.

Thanks a lot once again!


Arthur

Just tried to apply what you said and found out that I was asking for a wrong thing. I've corrected the first post, so I need just an instant trailing stop without any addition of jumping one using the same principal.

Also, I didn't pay attention to a minus sine you've mentioned. No, I need it to start from +15 pips.



I will explain briefly once again:

No matter what kind of SL I have, I want to start trailing using an instant trailing stop from +15 pips using 2 pips interval.

Reaching +21 pips I want to increase an instant trailing stop interval to 4 pips.

Reaching +25 pips I want to increase an instant trailing stop interval to 8 pips and keep trailing till the market will allow me to do this.



Many thanks,
Arthur

About MPTM:


4) Instant trailing stop loss settings: this will start moving the stop loss as soon as
the market moves in your favour. It will set a sl at InstantTrailingStopPips if there is
not one already in place, otherwise it will act on the existing sl. I cannot imagine a
use for this, and wrote it only to satisfy myself that I can.
● InstantTrailingStop: set this to 'true' to use this feature.
● InstantTrailingStopPips: the number of pips to trail.
● StopInstantTrailAfterBreakEven: set to 'true' to disable this feature as soon as
the trade has achieved breakeven.


I like this - "I cannot imagine a use for this, and wrote it only to satisfy myself that I can"

I cannot imagine this as well since it starts to trail my position immediately.


And here is why it is not applicable in my case: It will set a sl at InstantTrailingStopPips if there is
not one already in place . >> This means that I have to move my SL first to BE +13 pips when I will reach initially assumed 15 pips. And set an instant trailing stop to 15.1 with 2 pip interval to start trailing from 13.1 pips... I don't like this idea, as there could be issues when the market moves quickly.


I need 3 simple parameters on Instant Trailing Stop:


Start Instant Trailing Stop From:

Instant Trailing Stop Pips:

Stop Instant Trailing Stop At:


Following Sw4xGro's idea to complete my request I need these parameters to be tripled in order to not to use 3 separate instances.

Otherwise, to have the additional parameters:

Change Instant Trailing Stop Pips At and New Instant Trailing Stop Interval >>> these to be doubled



I am looking for someone to help me create this tool.



Thank you,

Arthur