Since MT only accepts a manual trailing stop of 15, if I code a TS in an EA for less than 15 will it be accepted?
I think you should use MarketInfo function with MODE_STOPLEVEL switch to check what is the minimum stop on current cross.
Thanks for the reply, but I'm not a programmer and I have no idea how to do that...
It will accept a TS as small as the smallest allowed SL. If you do it manually (in your code, so your code closes the trade based on loss, not by the SL) it will allow it as small as you want.
Ture, but you can get REQUOTE info from your brooker, or when modifying order sl you can get error : INVALID STOPS.
And here is an example how to check minimum SL:
Comment("Minimum SL for "+Symbol()+" is "+MarketInfo(Symbol(),MODE_STOPLEVEL));
Put this line in any indicator that works, at the beginning of the start function and you will see what will happen .
Thanks much, I'll give it a try.
Can someone explain to me how Trailing stop works.
I just understand Trailing Stops yet.
If I have a trade with a TP=15 SL=15 and TS=6
How does the TS of 6 effect this trade? TS doesn't override TP does it?
If the price moves in my favor 6 pips does it move my SL up to it now so if my TP of 15 isn't hit at least I'll still break even with a TP of 6? is that right?
I've read elsewhere that it just moves the SL up 6 pips.
It will work like that:
When order will be sent lets say that the price will be 1.2000 and you trade long.
your tp level will be 1.2015
your stop 1.1985
YOUR TRAILING IS 6, so that means that you will be trailing the stop loss level by 6 pips, so when you will be at 1.2007 you will move stop loss to 1.1986 and so on, so to gain 6 pips (exit with 6 pips on stop) you need to have price on 1.2012, then your sl will be moved to 1.2006.
Ok, why you say when price gets to 1.2007 SL only moved up 1pip to 1.1986? did you mean to say that when TS is hit (1.2006) SL will move up 6pips to 1.1991? not understanding when you say when price is at 1.2012 SL moved up 21pips to 1.2006 ?? soory, trying to get it
HM.... I think I made a mistake here, and get you wrong, probably because I just got up... and I'm a little sleepy yet.
Lets see how usual traling stop works.
Examples again long, at 1.2000
Lets say that we will be using trailing stop provided by metatrader.
The minimum value of such stop is 15 pips (in the platform).
And it works like that:
When you will reach +1 pip profit above your trailing target then it will move your stop loss by the amount that you specified as trailing stop. So if you will reach +16 pips profit then your stop loss will be moved to Bid-trailingstop and it will be break even in this case so +1 pips so 1.2001, otherwise it will stay where it was put before.
So eg. if you start with 1.2000 long and TP=50 SL = 50 ts = 15 then when the price will be at 1.2016 your stop will be moved from 1.950 to 1.2001
Until that he will stay at 1.1950.
You can also implement your own trailing stop, which will work immediately, without waiting till the price will go above your trailing target (15 pips+) and if you do, then it will work like that:
LONG, TP=50,TS=15,SL=50 at 1.2000
Your stop will be put at 1.950, then lets say that the price went to 1.2001, your stop was moved to 1.986 (Price - traling stop level), and so on.
Got it now?
[mistaken here, look at the message above]
I can override MT TS of 15 by putting my own in in an EA correct?
Ok, so if I set a trade TP=15 SL=15 TS=6
Open Long 1.2000 SL=1.1985 TP=1.2015
now price moves to 1.2007 triggering TS
So your saying SL doesn't move up 6 to 1.1991 but it moves to bid-TS (1.2001) correct?
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