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AutoTakeProfitStopLoss

This is an assistant tool to help you place TakeProfit and StopLoss.


How does it work?

The tool works if there is at least one open order (market or pending) in the terminal.

It checks the StopLoss level of the open order.

And no StopLoss is placed, it sets the StopLoss level specified in its parameters and the TakeProfit level which is kTakeProfit times larger than StopLoss.

If StopLoss is already used, it checks the ratio of TakeProfit and StopLoss, and if it does not match the value of parameter

kTakeProfit, the tool modifies the TakeProfit level.

If StopLoss is modified, TakeProfit will also change.


Parameters:

  • StopLoss = 300; teh desired SropLoss level in points.
  • kTakeProfit = 2.0; the desired ratio of TakeProfit : StopLoss.

So, if

StopLoss = 200

kTakeProfit = 3.0

the tool will place StopLoss of 200 points and TakeProfit = 600 points.

If StopLoss is changed to 150, TakeProfit will be set to 450 points.

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