I need an auto move take profit EA

New comment
 
Oh everyone. I am a bit of a novice. I am looking for an EA who will perform a 'take profit' afterward automatically so that I can set it to say 150 pips. So every time the market moves up or down 150 pips, the take profit moves with it "Reverse Trailing Stop". Example:

You placed a buy order at 1.23400 and take profit at 1.23550 and the market moves down to 1.23250. Then the EA takes over. So if the market falls another 150 pips it will automatically trigger a take profit

150 pips higher when buying and 150 pips lower when selling. (Which allows me to get some sleep lol) (I hope that makes sense.) Also ... I am using MetaTrader 5
 
Soufiane Jallouli: You placed a buy order at 1.23400 and take profit at 1.23550 and the market moves down to 1.23250. Then the EA takes over. So if the market falls another 150 pips it will automatically trigger a take profit

That's not a take profit, it's a Stop Loss of 15 (1.2340 -  1.2325) + 150 PIPs = 165 PIPs (1.2175). No EA required.

  1. PIP, Point, or Tick are all different in general.
              What is a TICK? - MQL4 programming forum 2014.08.03

    Unless you manually adjust your SL/TP for each separate symbol, using Point means code breaks on 4 digit brokers, exotics (e.g. USDZAR where spread is over 500 points), and metals. Compute what a PIP is and use it, not points.
              How to manage JPY pairs with parameters? - MQL4 programming forum 2017.02.09
              Slippage defined in index points - Expert Advisors and Automated Trading - MQL5 programming forum 2018.01.15

  2. Risk depends on your initial stop loss, lot size, and the value of the symbol. It does not depend on margin and leverage. No SL means you have infinite risk. Never risk more than a small percentage of your trading funds, certainly less than 2% per trade, 6% total.

    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 You place the stop where it needs to be — where the reason for the trade is no longer valid.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.

 
William Roeder:

That's not a take profit, it's a Stop Loss of 15 (1.2340 -  1.2325) + 150 PIPs = 165 PIPs (1.2175). No EA required.

  1. PIP, Point, or Tick are all different in general.
              What is a TICK? - MQL4 programming forum 2014.08.03

    Unless you manually adjust your SL/TP for each separate symbol, using Point means code breaks on 4 digit brokers, exotics (e.g. USDZAR where spread is over 500 points), and metals. Compute what a PIP is and use it, not points.
              How to manage JPY pairs with parameters? - MQL4 programming forum 2017.02.09
              Slippage defined in index points - Expert Advisors and Automated Trading - MQL5 programming forum 2018.01.15

  2. Risk depends on your initial stop loss, lot size, and the value of the symbol. It does not depend on margin and leverage. No SL means you have infinite risk. Never risk more than a small percentage of your trading funds, certainly less than 2% per trade, 6% total.

    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.

thanks

New comment
Reason: