The Expert Advisor moves the Stop Loss level after the price at the pip distance, specified in the settings, which makes it a separate floating Stop Loss
If necessary, the expert can be configured so that it moves the Stop Loss upon reaching a certain profit level in points.
The trailing step can also be set, so that the EA moves the Stop Loss only after a certain amount of points.
A few reasons to choose the "Swimming stop":
- The EA automatically starts trailing stop on any opened or pending order;
- You can adjust the trailing stop to meet your method of trading;
- Profit trailing - If TRUE, the EA will move the Stop Loss upon reaching profit in points. If False, the EA will start moving the Stop Loss immediately after order opening;
- Trailing step - The step of the floating Stop Loss. The EA will move the Stop Loss after a certain number of points. For example, step = 5. The Stop Loss will be moved after 5 points, orders in the profitable direction.
- Trailing stop - The distance from the current price, at which the Stop Loss will be located. For example, Trailing stop = 15, the order is 50 points in profit, this means that the Stop Loss will be "moved" to 35 points in profit.
- Magic number - If the magic number is -1, then the EA initiates the floating Stop Loss of all orders on the chart. If 0, then the orders opened by the trader. Or of the magic number of another EA is specified, then the orders opened by that EA.