Help with Stealth Trailing Stop Please !! | Forex Factory

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Help with Stealth Trailing Stop Please !!

  • #1
  • First Post: Nov 29, 2013 11:43am Nov 29, 2013 11:43am
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Hi,

I have developed an EA which includes a TP and SL, and which allows the SL to trail.

What I would like to do is two things in addition to the already successful coding and performance.



1. I wish to have a Visible and Fixed Stop Loss, and in addition to this have a Trailing Stop in Stealth Mode.

So, for instance, should I have the EA running in a Trade Explorer scenario then the Original Stop Loss would show while the Trade was open even though the EA itself could close the trade prematurely in the event that the Stealth TS activates the Trade Close.



2. I would also like to add a very simple Balance related Money Management philosophy to the code, albeit this is of less importance than the above.



Is there anyone that could help me with this please ?

Thank You

FM

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  • #2
  • Nov 29, 2013 11:53am Nov 29, 2013 11:53am
I am not sure if I uploaded it here also, but it is available at Steves Forum,maybe you can use that or take it for inspiration (would be drag/drop the sl-tp-lines per mouse)

or use the forumsearch, e.g threads at
http://www.forexfactory.com/showthread.php?t=192764
http://www.forexfactory.com/showthread.php?t=446353
PM me with coding requests and I'll probably put you on my ignore list
  • #3
  • Nov 29, 2013 11:53am Nov 29, 2013 11:53am
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I would care to add that I used an EA Builder Program to develop the EA and don't really have much experience or ability in adapting or modifying them so simplicity would be extremely and gratefully appreciated

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  • #4
  • Nov 29, 2013 12:05pm Nov 29, 2013 12:05pm
you could download the EA on that post: http://www.forexfactory.com/showthread.php?t=192764
and test it (on demo). Load it on an EURUSD chart for example, open a few buy and sell-orders and check if the functions does what you need.

PM me with coding requests and I'll probably put you on my ignore list
  • #5
  • Nov 29, 2013 12:12pm Nov 29, 2013 12:12pm
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Quoting fxdaytrader_
you could download the EA on that post: http://www.forexfactory.com/showthread.php?t=192764 and test it (on demo). Load it on an EURUSD chart for example, open a few buy and sell-orders and check if the functions does what you need.
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Hi fxdaytrader,

Thank You for Your responses.

I read the posts but it concludes that the Trade is not closed by a SL Order if the Stealth TS is in use.

For me it is important that there be a visible SL at all times, and one that Closes the Trade should the Trade not reach the requirements of the TS function.


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  • #6
  • Nov 29, 2013 12:14pm Nov 29, 2013 12:14pm
Quoting Forex Magic
. Hi, I have developed an EA which includes a TP and SL, and which allows the SL to trail. What I would like to do is two things in addition to the already successful coding and performance. 1. I wish to have a Visible and Fixed Stop Loss, and in addition to this have a Trailing Stop in Stealth Mode. So, for instance, should I have the EA running in a Trade Explorer scenario then the Original Stop Loss would show while the Trade was open even though the EA itself could close the trade prematurely in the event that the Stealth TS activates the Trade...
Hello Forex Magic,

We would give advice, if you were trading a real account.

Best wishes!
  • #7
  • Nov 29, 2013 12:23pm Nov 29, 2013 12:23pm
Quoting iumoren
{quote} Hello Forex Magic, We would give advice, if you were trading a real account. Best wishes!


Hi iumoren,

I Trade 2 Live Accounts.

One personal and one on behalf of clients.

Thank You

FM

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  • #8
  • Nov 29, 2013 12:29pm Nov 29, 2013 12:29pm
Quoting Forex Magic
{quote} Hi iumoren, I Trade 2 Live Accounts. One personal and one on behalf of clients. Thank You FM .
Hello Forex Magic,

#1. What is your default Trailing Stop Pips value? Is it a constant value for all your trades? Are you trading a 4 or 5 digits account?

#2. What Stealth Trailing Stop value do you need?

Please advise. Thanks.
  • #9
  • Nov 29, 2013 1:42pm Nov 29, 2013 1:42pm
Quoting iumoren
{quote} Hello Forex Magic, #1. What is your default Trailing Stop Pips value? Is it a constant value for all your trades? Are you trading a 4 or 5 digits account? #2. What Stealth Trailing Stop value do you need? Please advise. Thanks.

Hi iumoren,

The Settings most successful are:

SL @ 300 Pips

TS @ 12 Pips

It is a Constant for all Trades.

It is a 5 Digit Broker although the MQL Code appears to be for 4 because I have to multiply the figures above by 10 in the EA inputs.

The Stealth Trailing Stop would be the same as the current one at 12 Pips.



Thank You

FM

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  • #10
  • Nov 30, 2013 2:51am Nov 30, 2013 2:51am
Hello Forex Magic,

You can never achieve good, long-term trading results with above SL and TS settings in your EA.

With a SL of only 300 pips (for 5-digit account - please correct if we misunderstand you) or 30 pips (for 4-digit account - please correct if we misunderstand you), you are totally cheating yourself and gradually cleaning up your trading account in losses! You do not give your EA any flexibility in difficult markets.

Your TS (Trailing Stop) value of 12 pips is really surprising! In our understanding, 12 pips is for a 5-digit account, while actual value for a 4-digit account will be 1.2 pips. With such a TS value, you are also trying to take "premature profits", while your EA will re-trigger "same trend" trade as soon as you have taken the premature profit. And what happens is this: when "same trend" trade is re-triggered when the trend is actually approaching an end, you will end up in losses at your 300 pips (for 5-digit account) SL.

At this point it is difficult to give you advice. You need to do longer term research with your EA in order to come up with truly optimal SL and TS values for your EA.

Best wishes!
  • #11
  • Nov 30, 2013 6:22am Nov 30, 2013 6:22am
If the digit-adjustments are done it does not matter.

I did some changes/adjustments quickly, not tested yet, but I think that is the way it could work, see comments in the code for details (it is the mentioned stealth-trailing-function)
Attached File(s)
File Type: mq4 StealthTrailing_v1.3a.mq4   6 KB | 416 downloads
PM me with coding requests and I'll probably put you on my ignore list
  • #12
  • Dec 1, 2013 2:42pm Dec 1, 2013 2:42pm
Quoting fxdaytrader_
If the digit-adjustments are done it does not matter. I did some changes/adjustments quickly, not tested yet, but I think that is the way it could work, see comments in the code for details (it is the mentioned stealth-trailing-function) {file}

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Hi fxdaytrader,

Thank You already !

I have not looked at Your work yet but wondered would I insert the code of that into the existing EA or does it attach to the chart as a separate item?

Thank You in advance.

FM


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  • #13
  • Last Post: Dec 1, 2013 3:00pm Dec 1, 2013 3:00pm
you can insert the code into your existing EA:

copy the void StealthTrailingStop_v1.3() (line 18-109) and insert it at the end of your EA

line5-line 10 (extern ...) belong at the start of your ea (that are the external params the user may change, so put it maybe at the end of your already existing external parameters)

And at last you insert the following line at the place the EA should start your trailingstop (note that the order which should get trailed has to be already selected by orderselect).

Inserted Code
if (StealthTrailingStopLoss) StealthTrailingStop_v1.3();//call the StealthTrailingStopLoss-routine

alternatively you could copy the function "trademanager" also to the end of your existing ea and after that the call "SimpleTradeManager();" at the beginning of your existing start()-function (so right a line under start() {

...
PM me with coding requests and I'll probably put you on my ignore list
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