Trailing stop that only kicks in at a certain price

New comment
 

Hi,

New here, so please forgive the usual lack of understanding!

I want to put a trailing stop loss on a trade, that only kicks if the trade moves a certain distance from the entry point. I've been trying to research EA's all day, but with no coding knowledge its baffling me. It doesnt seem like what I want to do is that complicated, given that a trailing stop already comes provided in the basic MT5 software, its just a case of when its implemented. Is this something I will ultimately need to get programmed for me, or is there an easy way of doing it?


Any help much appreciated.

 

I should think that there are many trailing stop EAs in the codebase.

Most of them will normally only "kick in" when it means moving the trade SL to break even.

If you want anything different, maybe somebody here will have an example. Otherwise you can pay someone at Freelance

Trading applications for MetaTrader 5 to order
Trading applications for MetaTrader 5 to order
  • www.mql5.com
1. There should be a parameter to denote the time difference between the broker's time and my time. If my time is ahead of the broker's time, this parameter should be positive. If my time is behind broker's time it should me negative. 2. All time should be shown in my time. 3. All time should be expressed in “hh:mm” format. I do not want...
 

Thanks, There are a few trailing stop related things in there certainly, I've seen them but I'm not sure exactly what each one does. There are basic explanations, but they don't go into enough depth for me. I also thought well maybe I'll just run them on a demo account to see what happens, but I cant even figure out exactly how to actually turn them into run-able EA's. I hit compile code, but it says there is an error, and I dont know what else to do!


Is there anywhere a very basic set of instructions for doing this in metaeditor?


I like to think I'm not totally useless technically, but it doesnt help that I've been a mac user for years, but doing this on a PC so certain basic stuff I struggle to find!

New comment