EA manages ATR orders
EA uses ATR
I have an old ea from Taylor Stockwell (MTP 1.7) that I modified (or tried to) to automatically split and manage a trade. Here is how it's supposed to work:
You place the trade manually up or down.
The EA gets the Daily ATR . Sets the SL and first TP to 1/2 ATR.
Once price reaches 1/2 ATR - 1/3 of the order takes profit. SL moved to 1/2 ATR.
Once price reaches ATR - one more 1/3 order is take profit.
Then the last 1/3 order can run to a TP of 3x ATR OR run with trailer of 1/2 ATR depending on what you set. That's how it's should work but what it actually does is take all three 1/3 orders and take profit at 1/2 ATR.
I am not much of a programmer (but then again, I'm not much of a trader either)
But I think this might be a useful tool to add to your ea box.
I hope someone can see what I did wrong and make it work.
Thanks BiG
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I have an old ea from Taylor Stockwell (MTP 1.7) that I modified (or tried to) to automatically split and manage a trade. Here is how it's supposed to work:
You place the trade manually up or down.
The EA gets the Daily ATR . Sets the SL and first TP to 1/2 ATR.
Once price reaches 1/2 ATR - 1/3 of the order takes profit. SL moved to 1/2 ATR.
Once price reaches ATR - one more 1/3 order is take profit.
Then the last 1/3 order can run to a TP of 3x ATR OR run with trailer of 1/2 ATR depending on what you set. That's how it's should work but what it actually does is take all three 1/3 orders and take profit at 1/2 ATR.
I am not much of a programmer (but then again, I'm not much of a trader either)
But I think this might be a useful tool to add to your ea box.
I hope someone can see what I did wrong and make it work.
Thanks BiG