Dynamic Take Profit & Stop Loss

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What are the methods used to programmatically determine dynamic TP & SL?

The only one that I know of is to use ATR... attempting to investigate calculation via percentage% to determine TP & SL?

Any advice or resources appreciated...

[Isaac]

Superion:

What are the methods used to programmatically determine dynamic TP & SL?

The only one that I know of is to use ATR... attempting to investigate calculation via percentage% to determine TP & SL?

Any advice or resources appreciated...

Hi Superion,

U could adopt the concept of Bolinger Bands. Using its divergence-convergence procedures factor out from different timeframes starting from M15,... through to MN1. I suppose dis would take some days to study kinly. I assure u of some TP & SL dynamisms.

[ukt]

Ever notice how fibs really do [well...at times :] show S/R levels?

Have a look at fib levels based on even a simple moving average - may give ideas...

One method is to place SL at the last fib level when market moves further out and crosses the next fib

Aligned to this method is idea of taking partial TP when above happens - so that some income is evident.

Above can continue until decide exhaustion is likely or indeed manifests...

Another method maybe to use variation of above and do EA internal SL moving (but influenced by where an adjusted SL would be in relation to fibs - and same thinking for TP or partial TP)

any indicator values are available to EA by using iCustom() (MQL4 Reference - Technical indicators - iCustom)

so that any scheme can be based on past/current values of one or more indicators...

just thoughts of course - is imho :o)

btw - fib levels can be made up to better suit your thinking or price/chart observations - yes?

• f course based on fibs for sure but maybe divided by 2 or...?

in end, is all based on now price and indicators work on history - so always going to be a guesstimate........

ie, some traders use NO indicators and follow market price 100% for all trade/exit decisions - whatever turns ya own!!!!!!!

[Brian Dee - Random Trader]

S

I often use iStdDev to set TP & SL - when the indicator reaches certain levels then initial values for TP & SL can be multiplied by factors

e.g.

if iStdDev over 0.003 TP=2*InitialTP...

if iStdDev over 0.006 TP=3*InitialTP...

etc

Real simple & works well for EA's working intraday orders

Good Luck

-BB-