Trailing stop, trailing step and start EA

MQL5 Experts

Job finished

Execution time 1 hour
Feedback from customer
The developer was fast, efficient, and delivered everything promised. I enjoyed the experience working with this developer. I look forward to working with you again!
Feedback from employee
Thanks a lot

Specification

Hello,


I am looking for a trailing stop that will activate after a custom threshold and then trail by a custom level of pips.

This trailing stop moves the stop loss up or down with the order price after it first reaches profit threshold, thereby “locking in” profit and providing loss protection.

For instance,  if you set the profit threshold to 50 and the trailing stop to 50, the trade will have to move 50 pips in profit before the trailing stop is activated, at which point the stop will be moved to break even. 

If you further indicated that your trailing step is 5, then the market would have to move up 5 pips more in profit before your stop would rise 5 pips above breakeven.  It would then adjust increasingly upwards on that basis, locking in 5 more pips of profit for each additional 5 pip gain.

I envision three external variables for this new trailing stop, one indicating the profit threshold, the other indicating the trailing stop, and the last indicating the stepping distance:
extern double TrailingStart = 50;
extern double TrailingStop = 25;
extern double TrailingStep = 5;

The variables that the user manipulates are thus the TrailingStart, which is the profit threshold that needs to be achieved before the trailing stop can be activated;

the TrailingStop, which is the amount of pips we will trail from new profit highs;

and the TrailingStep, the amount of new pips that need to be gained before the stop can be increased by the amount of the gain.   


Thanks and regards,

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Project information

Budget
30 - 40 USD
Deadline
from 1 to 2 day(s)