Trailing stop in money instead of pips

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Claudio Lasso
911
Claudio Lasso  
Hi,

I use a code to insert Trailing Stop on my EA:

input double TrailingStop   = 8;
input double TrailingStep   = 2; 


void MoveTrailingStop()
{
 bool s,mod;
 for(int cnt=0;cnt<OrdersTotal();cnt++)
 {
  s=OrderSelect(cnt,SELECT_BY_POS,MODE_TRADES);
  string sy=OrderSymbol();
  int    tk=OrderTicket(),
         ot=OrderType(),
         mn=OrderMagicNumber();
  double op=OrderOpenPrice(),
         sl=OrderStopLoss(),
         tp=OrderTakeProfit();
  if(sy==Symbol()&&mn==MagicNo&&ot<=OP_SELL)
  {
   if(ot==OP_BUY)
   {
    if(TrailingStop>0&&NormalizeDouble(Ask-(TrailingStep*point),Digits)>NormalizeDouble((op+(TrailingStop*point)),Digits)) 
    {                 
     if((NormalizeDouble(sl,Digits)<NormalizeDouble(Bid-(TrailingStop*point),Digits))||(sl==0))
     {
      mod=OrderModify(tk,op,NormalizeDouble(Bid-(TrailingStop*point),Digits),tp,0,Blue);
     }
    }
   }
   else
   {
    if(TrailingStop>0&&NormalizeDouble(Bid+(TrailingStep*point),Digits)<NormalizeDouble((op-(TrailingStop*point)),Digits))  
    {                 
     if((NormalizeDouble(sl,Digits)>(NormalizeDouble(Ask+(TrailingStop*point),Digits)))||(sl==0))
     {
      mod=OrderModify(tk,op,NormalizeDouble(Ask+(TrailingStop*point),Digits),tp,0,Red);
     }
    }
   }
  }
 }
}

I'd like to make TRAILING STOP as money. EX: 

TrailingStop   = 1$;

TrailingStep   = 0.5$; 

thanks in advance for your help

William Roeder
19656
William Roeder  
Claudio Lasso: I'd like to make … for your help
  1. Help you with what? You haven't stated a problem, you stated a want. Show us your attempt (using the CODE button) and state the nature of your problem.
              No free help
              urgent help.

    Or pay someone. Top of every page is the link Freelance.
              Hiring to write script - General - MQL5 programming forum

  2. In code (MT4): Risk depends on your initial stop loss, lot size, and the value of the pair. It does not depend on margin and leverage.
    1. You place the stop where it needs to be — where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
    2. AccountBalance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the spread, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
    3. Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency.
                MODE_TICKVALUE is not reliable on non-fx instruments with many brokers - MQL4 programming forum 2017.10.10
                Is there an universal solution for Tick value? - Currency Pairs - General - MQL5 programming forum 2018.02.11
                Lot value calculation off by a factor of 100 - MQL5 programming forum 2019.07.19
    4. You must normalize lots properly and check against min and max.
    5. You must also check FreeMargin to avoid stop out

    Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5 or 0.1 Lots maximum.

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