Trailing Buy/Sell Stop

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ncx2
12
ncx2  
Hi, some of my brokers offer a trailing buy/sell stop on their web interfaces etc. for trading stocks or other things, is this possible in metatrader? Or is there only the trailing stop loss? I already searched for a mql script and on the market but i didn't really manage to find anything, i could script such a thing myself but i'm not so much into mql just yet, i rather would prefer a tested solution, thanks for any advice.
Sergey Golubev
Moderator
106160
Sergey Golubev  

What Is a Trailing Stop and How to Set It

Stop Loss is used for minimizing losses if the security price moves the wrong direction. Once a position becomes profitable, its Stop Loss can be manually moved to a break-even level. Trailing Stop automates this process. This tool is especially useful during a strong unidirectional price movement or when it is impossible to monitor the market continuously for some reason.

Trailing Stop is always associated with an open position or apending order. It is executed in the trading platform rather than on the server like Stop Loss. To set a Trailing Stop, select "Trailing Stop" in the context menu of a position or an order in the "Trading" tab: 



Basic Principles - Trading Operations - MetaTrader 5 Help
Basic Principles - Trading Operations - MetaTrader 5 Help
  • www.metatrader5.com
is an instruction given to a broker to buy or sell a financial instrument. There are two main types of orders: Market and Pending. In addition, there are special Take Profit and Stop Loss levels. is the commercial exchange (buying or selling) of a financial security. Buying is executed at the demand price (Ask), and Sell is performed at the...
ncx2
12
ncx2  

thanks very much, i totally overlooked i could use it for pending orders too, probably i should have read the manual more deeply earlier but thank you

Sergey Golubev
Moderator
106160
Sergey Golubev  

And look at CodeBase too (this link in search): Trailing Stop.

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