Trailing Orders TL
The Trailing Orders TrendLine EA is an indispensable tool to help traders in manual trading by the resistance and support lines.
Using the "Draw Trendline" tool place a support and/or resistance line on the chart.
Then place a pending order and specify the name of the trend line for trailing the order in its comments.
Then the EA pick up the order and places it at a specified distance (Delta) from the selected trend line, and will trail the order based on the line until it is opened.Attention: To display the name of the trend line on the chart, enable "Show object descriptions" in the chart properties.
- Prefix - Prefix to link the lines and orders.
- Delta, pips - distance from the line to order;
- Show steps - enable/disable display of the trailing steps on the chart.
Features of the EA:
- works with unlimited number of orders;
- the change in the order position (trailing) happens at every new bar;
- if the line has a gap (the "Ray" flag is turned off in the line properties) the EA stops moving the order at the end of the line;
- if the trader incorrectly attaches the order to the line, for example when a Sellstop is attached to a resistance line, then such order will not be picked up by the EA, and a corresponding error message will be displayed on the chart.