Need Help with Trailing Stop
World3000:
A Trailing Stop moves the Stop Loss level once it’s “in the green” by the defined Trailing Stop Level. What I want is a Trailing Stop that moves as soon as the price moves in the right direction by 1 pip. Example:Price: 1.5050. Stop Loss: 1.5000. Trailing Stop: 50 pips. Now price moves to 1.5051, Stop Loss moves to 1.5001 etc. Any ideas for MT4? Thanks in advance.
Do a quick search in the forum. There are several topics discussing trailing stop.
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A Trailing Stop moves the Stop Loss level once it’s “in the green” by the defined Trailing Stop Level. What I want is a Trailing Stop that moves as soon as the price moves in the right direction by 1 pip. Example:Price: 1.5050. Stop Loss: 1.5000. Trailing Stop: 50 pips. Now price moves to 1.5051, Stop Loss moves to 1.5001 etc. Any ideas for MT4? Thanks in advance.