- Comments (3)
This utility is an assistant for placing the TakeProfit level relative to the placed StopLoss level and consequently moving the StopLoss to breakeven.
The StopLoss level can be quickly placed by "dragging" the order line to the required distance on the chart, as soon as you fix it, the TakeProfit level will be marked at a certain distance (specified in the settings of the utility).
To efficiently trade on the financial markets, it is necessary to adhere to the golden rule: «It is necessary to set the ratio of TakeProfit to StopLoss as 3 to 1, 4 to 1, 5 to 1 etc.» Choose the ratio yourselves! For example, at the level TakeProfit of 4 to 1, is it only required to have 25% positive trades to trade without loss.
- order_magic - If set to "-1", then TakeProfit is placed for all trades, if there StopLoss is set. If set to "0", then TakeProfit is placed only for the trades opened manually.
- TakeProfit/StopLoss - The ratio of TakeProfit value to StopLoss value. For example, if you need 3 to 1, set the value "3".
- BU - Move the position to breakeven when the price passes the BU value multiplied by the value of StopLoss. For example: StopLoss is set to 10 points from the order opening price, TakeProfit/StopLoss is set to 3, i.e. 30 points, if BU=2, then once the price passes 20 points, the StopLoss will be moved to breakeven.