Trailing stop as a % of the initial stop-loss

[rytucker2000]

Hi Dreema,

I need advice...

When conditions are met MT4 gives me a notification, I go on the chart (M5 to H4) and set 2 lines: one to take the trade and one for the stop loss.

When price hits the buy/sell line, 2 orders are taken:

the difference between the 2 lines is the stoploss.

The volume size = stoploss = 1% of balance

and the TP = 2 times the stoploss for order 1
and TP = 5 times the stoploss for order 2

and the lines are deleted.

this I figured out but the next I'm struggling with....

I can't use the normal pips because its not going to work the same in a M5 and H4 chart, so I need it to be a % the Stoploss

I want the Trailing start, stop and step to be a % of the initial SL and it can be the same for the 2 orders.

I tried a lot of stuff - the closest I got was -
Trailing stop is...
Custom (pips)
(in loop) Trade/Order in Loop
Volume size (lots)
Initial volume
Adjust *20

Is it possible? What can I do?

https://fxdreema.com/shared/amozKvclc

[anse33]

@rytucker2000 Try "Custom (Price Level)" instead of "Custom (Pips)".

[rytucker2000]

thanks anse33, but unfortunately it does not work

[rytucker2000]

Does anyone have another suggestion?

[rytucker2000]

I got it working like this...

Trailing stop, step and start is the same as initial stoploss with formula block to change it.

as long as there is one trade going it keeps the initial stoploss value.

https://fxdreema.com/shared/srf7L20Ac

[len 1]

Hey Ryan. I see your starting with select object by name and pass. Aren't you supposed to start with no trade? Also, the bottom has a delete button by itself.
I haven't seen these delete buttons or a pass button before. I am trying to implement this into a program I am working but I am putting my conditions right where your conditions are before the buy and sells.

I also thought there wasnt supposed to be attached commands after the buys and sells.
Can you shed light on this

Thanks