DoubleExit is an Expert Adviser designed for scalpers that will place automatically the stop loss and take profit for every new trade that you open and is without specified exit levels.
Also DoubleExit adds a partial exit level at a fixed (by the user) amount of pips. The user can define also the amount of the original trade (in a percentage) to be closed at the time of the partial exit level is reached. The exit level (represented on the chart with an orange dash-dot-dot line) can be changed easily just by dragging a line on the chart.
As well the DoubleExit Expert adviser can change the stop loss level of the remaining lots in the trade, to break even, at the time the partial exit is executed.
The settings for this expert are:
- Pips To Stop Loss: Set the amount of pips distance from the entry price to place the stop loss of every order (default is 15)
- Pips To Take Profit: Set the amount of pips distance from the entry price to place the take profit of every order (default is 30)
- Pips To 1st Exit: Set the amount of pips distance from the entry price to establish the point where the indicator will command to the broker the partial close of your order
- Amount % to take at 1st Exit: Set the percentage of your original order to be closed when the 1st Exit Level be reached.
- Move stop loss to Break Even at 1st exit: Set as true (default) to move to break even the stop loss, when the first exit level be reached. When this be set as false, it will disable the Break Even feature.
Notice that the partial exit requires you to have the expert working and your terminal linked to your broker in order to send the instruction for the partial close of the original trade.
Add only one Expert for each symbol you are trading on the chart where you take your entry/exit decisions.
Please watch the Demo video to better understand how DoubleExit works.
Also modify the way it alerts about indivisible orders in the experts log, now posting one message per minute instead of each move of price.