OrderModify

[[Deleted]]

I am using OrderModify for trailing stops.   The problem is when the stop is => the OrderOpenPrice the order closes at the stop.  How do I get the order to stay open past the order open price?

          if(OrderType()==OP_BUY)

         {

               if(Bid>OrderOpenPrice())

                 {

                    tsbuy=Bid-OrderOpenPrice();

                    buystop=OrderStopLoss()+tsbuy;

                    if(buystop>OrderStopLoss())                  

                    {

                     //--- modify order and exit

                     ticket=OrderModify(OrderTicket(),OrderOpenPrice,buystop,OrderTakeProfit(),0,Green);

                     return;

                    }

 

Any critique/suggestions appreciated.

Rudy 

  

[Keith Watford]

   if(OrderType()==OP_BUY)
     {
      if(Bid>OrderOpenPrice())
        {
        tsbuy=Bid-OrderOpenPrice();
        buystop=OrderStopLoss()+tsbuy;
        if(buystop>OrderStopLoss())
          {
          //--- modify order and exit
          ticket=OrderModify(OrderTicket(),OrderOpenPrice,buystop,OrderTakeProfit(),0,Green);

          return;

          }

You will need to rethink your code.

Imagine a situation where you have a 10 pip SL and Bid reaches OrderOpenPrice() + 1 pip.

        tsbuy=Bid-OrderOpenPrice();    //EQUALS 1 PIP
        buystop=OrderStopLoss()+tsbuy; //EQUALS ORDEROPENPRICE -9 PIPS
        if(buystop>OrderStopLoss())    //THIS WILL BE TRUE, SO ORDER IS MODIFIED TO -9 PIPS

//      NEXT TICK----

        tsbuy=Bid-OrderOpenPrice();    //EQUALS 1 PIP
        buystop=OrderStopLoss()+tsbuy; //EQUALS ORDEROPENPRICE -8 PIPS
        if(buystop>OrderStopLoss())    //THIS WILL BE TRUE, SO ORDER IS MODIFIED TO -8 PIPS

//      NEXT TICK----

        tsbuy=Bid-OrderOpenPrice();    //EQUALS 1 PIP
        buystop=OrderStopLoss()+tsbuy; //EQUALS ORDEROPENPRICE -7 PIPS
        if(buystop>OrderStopLoss())    //THIS WILL BE TRUE, SO ORDER IS MODIFIED TO -7 PIPS

//      SL WILL BE MODIFIED EVERY TICK UNTIL IT IS VERY CLOSE TO THE CURRENT PRICE

[[Deleted]]

If Bid reaches OrderOpenPrice + 10, why does the order close because SL is near OrderOpenPrice?  I feel I'm missing something basic here.

[William Roeder]

spillstuff: I am using OrderModify for trailing stops. I feel I'm missing something basic here.	Yes you are. A trailing stop is relative to the OrderClosePrice (Bid). It's calculation does not involve the current SL value.

1.         tsbuy=Bid-OrderOpenPrice();
           buystop=OrderStopLoss()+tsbuy;
           if(buystop>OrderStopLoss())
   

   Rename tsbuy as profit. First tick you move stop up by profit., next tick you move (new) stop up by profit again, ....

   ---

2. You want a trailing stop. So you code it that way.
   

   //      tsbuy=Bid-OrderOpenPrice();              
   //      buystop=OrderStopLoss()+tsbuy;           
           buystop = Bid - FixedStopLoss * pips2dbl;
           if(buystop>OrderStopLoss() +_Point) // The == operand. - MQL4 forum
   

[Ian Venner]

Trailing stops can use a lot of ordermodifys, it might be more efficient to trail the price internally and use OrderClose when it gets there.

[William Roeder]

SDC: Trailing stops can use a lot of ordermodifys, it might be more efficient to trail the price internally and use OrderClose when it gets there.	And if you loose connection?

[Ian Venner]

WHRoeder:

 And if you loose connection?

 Well i said it might be more efficient. If your EA is using an unreliable internet connection it might not be.

[[Deleted]]

Thanks for the response(s).  I am rethinking the code as suggested.