Yes you can do that. But you can't move your SL to breakeven instantly after opening a position until it's move in profit. For example, after price moves 5 pips in profit move SL to BE then after 30 pips move SL as Trailing.
Can I do this :? ----> after price moves 5 pips in profit move SL to BE then after 30 pips , cancel the BE and run trailing stop function.
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Can you code that?
How To Ask Questions The Smart Way. (2004)
Be precise and informative about your problem -
You buy at the Ask and sell at the Bid. Pending Buy Stop orders become market orders when hit by the Ask.
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Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid / OrderClosePrice reaches it. Using Ask±n, makes your SL shorter and your TP longer, by the spread. Don't you want the specified amount used in either direction?
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Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask / OrderClosePrice reaches it. To trigger close to a specific Bid price, add the average spread.
MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25 -
The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (control+O) → charts → Show ask line.)
Most brokers with variable spreads widen considerably at end of day (5 PM ET) ± 30 minutes.
My GBPJPY shows average spread = 26 points, average maximum spread = 134.
My EURCHF shows average spread = 18 points, average maximum spread = 106.
(your broker will be similar).
Is it reasonable to have such a huge spreads (20 pip spreads) in EURCHF? - General - MQL5 programming forum (2022)
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Hi
Before trying to write the code in mql5, I'd like to know that can I use both breakeven and trailing Stop in my E.A? after opening the position I want to use breakeven and then , after a certain profit I'd like to use trailing stop ?