View Single Post
  #2 (permalink)  
Old 06-28-2009, 08:23 PM
eacreator's Avatar
eacreator eacreator is offline
Sophomore
 
Join Date: Mar 2009
Posts: 38
Thanks: 0
Thanked 1 Time in 1 Post
eacreator is on a distinguished road
Default

"Candle trailing stop" and "break even trailing stop" will be included in our upcoming website and can be added to any created EA by this web tool. I will shortly describe features we created, it may be helpful for other traders and EA developers.

Candle trailing stop:
1. Trail Stop Loss by chosen number of candles. e.g. on buy order trail SL by last candle Low. Or candle before the last can be used for this. It depends on Your strategy logics and can be set by output parameter which candle to use (trailing stop should be adapted to market volatility)

Output parameters will let You control when to place SL at break even:
1. by percentage. e.g.: price makes 40% between order open price ant Take Profit - then SL will be set at break even (order opening price). You will be able to modify this ratio by seting external parameter for EA.
2. by pips. e.g.: price goes to good direction by "n" pips - Stop Loss is set to break even. It could be used when take profit is not set. "n" pips value can also be set by output parameter.

These features may even turn unprofitable systems to profitable ones and be a great help to many traders.
__________________
EA Creator - tool to create flexible Expert Advisors with risk and money management without any programming
Reply With Quote

Registered members have access to special online forex currency trading tools, software, mt4 expert advisors and indicators. Register now