Let's say that I entered a long trade and notice that there is a potential resistance area coming up. So once the price comes to this area, I want the TP to move to a certain price to protect my trade. Since I am not infront of my pc all the time, I notice that I am missing out on some pips. Do you want to move your take profit TP , or your stop loss SL? There are plenty of EAs that allow you to add a trailing stop loss.
What I want is once I open a trade, if the trade goes my way a certain no of pips I want to move my SL to a certain area in the chat i could mark it with a line or arrow I would like to have a link to those.
When you enter a trade left click and click trails stop and enter the of pips u want to protect your profit no need for a EA for this. Please read his request, there are many similar ways but what he is asking for is a continuing dynamic TP EA what goes with the trade. The trade start and goes right and the SL and TP goes with the trade, in the moment when the trade goes against you, then the SL and TP is frozen highest pip is the freezing point and if it goes to SL then it exit.
But if the trade goes up again and goes over the highest pip also the SL and TP goes with the trade until 1. We read his request, and the answer is a trailing stop loss order which is usually a standard feature with most trading platforms. Did the OP find what he was looking for? The problem with trailing sl is the moment the trade goes 1 pip in my way, system moves the trailing sl by one pip. Please let me know if I am wrong here. I don't want this. What I want is to wait let's say the price is 20 pips in my way.
What trading platform are you using? If you are using MT4, there are many trailing stop EAs that allow you to adjust settings to fit your trading plan. Take a look here:. On many of these programs, you can adjust the initial fixed stop level as well as the "Trailing Step" value to trail a stop by a fixed number of pips.
Expert Advisors and Automated Trading. Any help is greatly appreciated. Have you considered trading on a smartphone?
Would you predefine the area where price goes before expanding to the next TP? Why not just have a larger TP? Take a look here: Thanks for the reply. I will check the site out. I am using MT4.More...