Stoploss Follower has the function of setting stop loss value on each order dynamically. When the price moves in profitable direction, the EA will calculate and set a new stop loss value that follows the price. But when the price moves in reverse, the stop loss value still remains at the position. So when the new price touches this stop loss value, the order is closed.
Trader can set the estimate of stop loss value with Stoploss input parameter. This parameter is in pips unit, i.e when a trader sets Stoploss=500 with lots=0.01, it means they set a stop loss at 500x0.01=$5.
Pairs and Timeframes
Due to the EA's ability to modify stop loss value, Stoploss Follower can be of use for any pairs and timeframes.
- NumTicket. Number of orders that can be sent by this EA.
- StopLoss. The stop loss value to be set in pips unit.
- MagicNumber. Magic number of orders.
- DelayMinute. Interval time betwen orders.
- Lots. Volume value used for every sent order.
- ALLOWTRADE. Enable/disable automatic order sending feature.