Auto Trailing Stop By TP Percent with Profit Lock
Automatic Trailing Stop Based on Take Profit Percentage with Profit Lock EA MT4
Lock in your profits and "let your winners run" past your 100% take profit target with this EA.
This Expert Advisor automatically adjusts your Stop Loss based on up to 4 user-defined Take Profit Target Percentages, locking in your profit. If price pushes past your 100% take profit target, the EA will automatically trail the price by user-defined pips, so you won't miss that runaway train again.
- The EA can be used on multiple, multi-direction trades on the same asset by attaching itself to specific trades based on order/ticket number. (Just attach the EA to a new chart for each trade and input the correct order number).
- Stop Loss automatically adjusts to previous take profit target
- Stop Loss activates Trailing By Points feature to lock in extra profits on trades that go past your initial 100% take profit target
How this EA works (do this after executing a trade):
1. User defines an initial take profit target and initial stop loss in points (Note: You must use POINTS, NOT PIPS here).
2. User defines 4 take profit percent targets.
TP1 = 25% (of total initial take profit target)
TP2 = 50% (of total initial take profit target)
TP3 = 75% (of total initial take profit target)
TP4 = 100% (of total initial take profit target)
3. User defines the Stop Loss percent steps.
When TP1 (25%) is hit, SL adjusted to 12.5% (of total initial take profit target).
When TP2 (50%) is hit, SL is adjusted to 25% (of total initial take profit target).
When TP3 (75%) is hit, SL is adjusted to 50% (of total initial take profit target).
When TP4 (100% is hit, SL is adjusted to 85% (of total initial take profit target)
*** When TP4 (100%) is hit, the "Trail By Points" feature is also activated, following the trade indefinitely by user-defined points.***
This EA will allow you to lock in your profits while also allowing you to capitalize on trades that push way past your original target!
EA Input Parameters
- Ticket Number: The specific order/ticket number of your trade.
- Take profit in Points : Set your initial take profit in points (very important to use points here, not pips)
- Stop-Loss in Points : Set your initial stop loss in points (very important to use points here, not pips)
- TP1 - TP4 Percents : Split up your initial Take Profit into percentages at which you want the EA to step up the Stop Loss (default is 25%, 50%, 75%, 100%)
- SL1 - SL4 Percents : Set the percentages at which you want your Stop Loss to adjust when hitting corresponding Take Profit Targets
***For example, when TP1 25% is hit, EA moves SL to 12.5% (SL1); when TP2 50% is hit, EA moves SL to 25% (SL2), and so on***
- Trail By Points : When 100% take profit is hit, set how much EA should trail by. If price continues in a favorable direction, the EA will continue to lock in profits. (Important to use points here, not pips)
- Color and Style Options : Adjust to your liking.