Order Management and Trailing Stopp

MQL4 EA

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A bit more expensive than others, but no regrets! Very helpful throughout the process and helped me to see flaws in my idea I wouldn't have spotted otherwise. Highly recommendable!
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good custemer :)

명시

Hi,

I'm looking for a tool that allows me to place orders like in this example:


I place the order and choose the S/L in Pips. Lot size is taken from a template, let's say 1% of equity.

If the trade is a winner and reaches a certain point (e.g. 2% of equity), I want two new rules for the S/L:

a) Put a new S/L at this point (here 2%). The trade has paid for its risk and I never want to go lower again.

b) Have a trailing stop that is triggered when an EMA is crossed (e.g. EMA 50 on H1; but I'd like to choose the EMA)

If either a or b is triggered, the trade is closed.

It would be nice, if b) could be attached to other criteria as well (e.g. candle closes below the ichimoku cloud). But: I'm still experimenting a a lot and this might be a future functionality. For now, EMAs is fine.

Summary: I want to be able to determine:

  • S/L in Pips
  • Lot Size in % of equity
  • Stopp for rule a); as factor X from initial S/L; pseudo T/P 
  • trailing stopp for rule b) (EMA X in Chart Y)

The only number I would frequently change is probably the initial S/L. Can we build this in a way that I can choose that one quick and easy before clicking in Meta Trader to place a Buy Stop or Sell Stop order (or have a pop up asking me for it when clicking)?


Best,

Jörg


P.S.: In case, it's important, I use MT4 with the GKFX Booster Package.

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