Add 3 Trailing Stop Functions to an existing MT4 EA ,and place into the Parameters Box of the program, as well:
1) Trailing Stop amount in pips: 10
2) Trailing Step in pips: 3
3) Trailing Stop Start Point from Purchase Point in pips: 45
NOTE: The existing program or EA has a Stop loss now. Of course, the Stop loss should deactivate when the Trailing Stop activates.
Further Explanation of Trailing Stop Functions, i.e., Trailing Stop, Trailing Step, Trailing Start Point:
The current EA opens a trade with a 50 pip Stop Loss and a 50 pip Target Price:
Your Code Addition:
A) Trailing Stop Start Point from Purchase Point in pips: Program opens a trade. After 45 pips in direction of profitable trade from the purchase point, the program would activate the Trailing Stop (Trailing Stop Start Point).
B) Trailing Stop Amount in pips: The Trailing Stop (Trailing Stop = 10 pips) would follow price at 10 pips distance.
C) Trailing Step: The Trailing Stop would delay following for 3 pips (Trailing Step) before moving forward, staying at a 10 pip distance of 10 pips from the moving market price point, otherwise (moving forward in 3 pip steps while staying at least 10 pips behind the moving price point).
D) NOTE: The three Trailing Stop functions would also be placed into the Parameters Window of the program, so that the EA manager can test and/or use different pip levels in the functions in order to find and/or operate with the optimal settings of the three Trailing Stop functions.
The EA will be used to trade forex, stock index products, metals, commodities, etc., with a forex broker.