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Request trailing takeprofit indicator or ea

  • #1
  • First Post: Feb 3, 2014 10:39pm Feb 3, 2014 10:39pm
Dear friends,
Do you have any indicator which trail take profit not trailing stop loss and its customizable like if price moves 5 pips its also moves
  • #2
  • Feb 4, 2014 12:23am Feb 4, 2014 12:23am
Quoting piplover143
Dear friends, Do you have any indicator which trail take profit not trailing stop loss and its customizable like if price moves 5 pips its also moves

So you are in a BUY, if price move up, you want the TP to move up ... right ?

If so, may I ask you when you think the price will it the TP ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Feb 4, 2014 3:35am Feb 4, 2014 3:35am
Quoting FerruFx
{quote} So you are in a BUY, if price move up, you want the TP to move up ... right ? If so, may I ask you when you think the price will it the TP ?

and if price go down tp will move down! it will be a endless loop. you need hues balance to stay in trade.
Every man who thinks ahead of his time is sure to be misunderstood.
  • #4
  • Feb 4, 2014 4:12am Feb 4, 2014 4:12am
Sounds like u want a tp which repel away from u. You dont want your profit? You dont trade to win?
The only winner is the one who survive the longest...
  • #5
  • Feb 4, 2014 9:59am Feb 4, 2014 9:59am
Quoting FerruFx
{quote} So you are in a BUY, if price move up, you want the TP to move up ... right ? If so, may I ask you when you think the price will it the TP ?
thanks all for your reply. i need i t because sometimes i unable to get correct level of supply and demand and prices blast after major news release like nfp. prices hit the tp or not its not important because i am also activating my trailing stop loss so if prices reverse i am end in profit
  • #6
  • Feb 4, 2014 10:00am Feb 4, 2014 10:00am
Quoting kinspk
Sounds like u want a tp which repel away from u. You dont want your profit? You dont trade to win?

its not that way i am also using my traling stop loss if suppose price reverse i ended my trade with profit and i am using specific sl and tp levels but sometimes prices goes beyond my level so i am unable to get that part of profit
  • #7
  • Feb 4, 2014 4:20pm Feb 4, 2014 4:20pm
Quoting piplover143
{quote} thanks all for your reply. i need i t because sometimes i unable to get correct level of supply and demand and prices blast after major news release like nfp. prices hit the tp or not its not important because i am also activating my trailing stop loss so if prices reverse i am end in profit
Trailing your TP is exactly like if you don't set a TP.
MT4/MT5 EAs/Indicators/Alerts coder
  • #8
  • Feb 4, 2014 7:08pm Feb 4, 2014 7:08pm
Quoting piplover143
{quote} its not that way i am also using my traling stop loss if suppose price reverse i ended my trade with profit and i am using specific sl and tp levels but sometimes prices goes beyond my level so i am unable to get that part of profit

You're not making any sense. Your TP (as you want it designed) will always be unattainable as price will never go "beyond [your] level".

You might as well forget setting your TP level, just set your SL level and trail THAT.

I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #9
  • Feb 4, 2014 8:17pm Feb 4, 2014 8:17pm
ok peoples i get it sorry for wasting your precious time
  • #10
  • Feb 4, 2014 8:21pm Feb 4, 2014 8:21pm
Quoting piplover143
ok peoples i get it sorry for wasting your precious time
That's not a problem of wasting time. We are all here to learn and help ...

The problem is that the way you explained it makes no sense at all as your TP will never get hit ... unless we didn't understood what you really need.
MT4/MT5 EAs/Indicators/Alerts coder
  • #11
  • Jul 9, 2014 10:34pm Jul 9, 2014 10:34pm
To a newbie, a possibly symmetrical and analogous idea to "trailing stoploss" appears to be a "trailing takeprofit".
Since everybody who enters trading tries to win, and the reason that profit and loss are not balancing concepts [i.e., while an account can theoretically handle infinite profit (with joy!), it can only take as much loss as it is worth], the closest match to trailing stoploss (in theory) is "leading (not trailing) takeprofit"! But then, this is again absurd because there will never be an endpoint, for an EA, if it keeps moving (leading) the "takeprofit level" higher as soon as the point is reached.
So practically the matching concept to "trailing stoploss" boils down to "trailing lock profit"; let the trade run and keep raising the lockprofit in favorable market, but not allow it to fall below the profits already gained. Ironically, this is achievable through the "stoploss" itself by raising it to higher than the open price (below the profitable current price) once trade falls in your favor.
Possibly that is what you were looking for. Find "Multi-Purpose Trade Management (MPTM) EA" by Steve Hopwood and try setting "jumpingStopLoss", "breakeven" and "trailing stoploss" to achieve your goal. Or maybe the Swiss Army EA v1.51 too.

Newbie to newbie, and still learning.
Good Luck!
  • #12
  • Jun 5, 2015 1:36pm Jun 5, 2015 1:36pm
Quoting piplover143
ok peoples i get it sorry for wasting your precious time
Hi Piplover,

I think I know what you think because I think about the same thing. In short sentence we need to get the most of the pips when the price move in expected direction.
Most of the time we feel sorry to see our TPs were taken but the price still move further. We never know price behaviors, of course.

So, maybe your idea of 'Trailing TP' is about relocating our present TP level when the price is approaching at certain distance e.g. as you said '5 pips away'. I often do this manually
It is just like to make our TP escaping from the price. The price will eventually changing direction (our 'running TP' will NEVER be touched) but we would have a better level of profit at the time. In this case we need a help of a trailing stop. When the price is pulling back, we have our trailing stop available to catch the returning price. The result should be a better profit taking than those caught by a fixed TP level.

I hope I have depicted my/ your idea close enough. Sorry for my insufficient language, still learning.
It should be nice to have that idea be coded. There are lots of Trailing Stop EAs around, but never see such Trailing TP Level.

Glad to see your posting. I would never think you've wasted anything here. It is a precious thought instead.
Btw, sorry for coming late in your thread. Keep loving the pips!

Thank you.
Taufiq
  • #13
  • Oct 29, 2019 3:04pm Oct 29, 2019 3:04pm
Is there a trailing take profit?
Eg. TP initially set 10 pips from entry.
If price moves 2 pips into draw down, then TP trails to +8 from initial entry.
If price moves to 20 pips into draw down, then the trailing TP has moved -10 from initial entry.
The trailing Take Profit only moves in one direction, against the direction of your trade (like trailing SL only opposite).
  • #14
  • Oct 29, 2019 4:40pm Oct 29, 2019 4:40pm
Quoting BubaYaga
Is there a trailing take profit? Eg. TP initially set 10 pips from entry. If price moves 2 pips into draw down, then TP trails to +8 from initial entry. If price moves to 20 pips into draw down, then the trailing TP has moved -10 from initial entry. The trailing Take Profit only moves in one direction, against the direction of your trade (like trailing SL only opposite).
Maybe you could use it in conjunction with a trailing SL?
Is there a trade manager EA with this function?
  • #15
  • Oct 29, 2019 5:48pm Oct 29, 2019 5:48pm
Quoting BubaYaga
{quote} Maybe you could use it in conjunction with a trailing SL? Is there a trade manager EA with this function?
After searching, found plenty of managers which modify stop orders, but none that modify limit orders (on MT4, they exist on other platforms).
Actually I did find this one
https://www.forexfactory.com/showthread.php?t=468993
But, it would open a hedge instead of close the position which is not ideal..
  • #16
  • Oct 29, 2019 8:03pm Oct 29, 2019 8:03pm
Quoting BubaYaga
{quote} After searching, found plenty of managers which modify stop orders, but none that modify limit orders (on MT4, they exist on other platforms). Actually I did find this one https://www.forexfactory.com/showthread.php?t=468993 But, it would open a hedge instead of close the position which is not ideal..
If only MT4 had a "netting" ability..
cja's trailing limit orders EA works really well - if only it closed all orders when triggered instead of opening a hedge (for the purpose of using it as a take profit when already in a trade).
  • #17
  • Nov 3, 2019 3:01pm Nov 3, 2019 3:01pm
Trailing take profit.
  • #18
  • Nov 5, 2019 7:16am Nov 5, 2019 7:16am
No such thing as trailing take profit (trail -> tp trailing price, even by definition it is not possible, or, if it is happening change your broker ASAP)
  • #19
  • Edited 2:37pm Nov 6, 2019 4:32am | Edited 2:37pm
Quoting mladen
No such thing as trailing take profit (trail -> tp trailing price, even by definition it is not possible, or, if it is happening change your broker ASAP)
A trailing stop loss is a stop order which trails only when price moves in profitable direction, and closes position when triggered.

A trailing take profit is a limit order which trails only when price moves in losing direction, and closes position when triggered. It doesn't move away as price approaches it.

You are right there is no such thing (what crazy person wants to limit profit and let losses run).

But by definition it is possible.
  • #20
  • Nov 7, 2019 11:02am Nov 7, 2019 11:02am
Quoting BubaYaga
{quote} A trailing stop loss is a stop order which trails only when price moves in profitable direction, and closes position when triggered. A trailing take profit is a limit order which trails only when price moves in losing direction, and closes position when triggered. It doesn't move away as price approaches it. You are right there is no such thing (what crazy person wants to limit profit and let losses run). But by definition it is possible.
Try it in trading
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