Move stop loss 2 pips for every 1 pip gain

[osryan]

I'm trying to figure out how to move my stop 2 pips for every 1 pip that price travels in the direction of my trade. For example, if my stop loss and profit target are each 100 pips, once the trade goes 1 pip in my direction, then the stop loss moves 2 pips. That way, as the trade goes positive, my stop loss and profit target are equidistant from the price. It's basically a trailing stop except stop loss moves 2x faster than the price.

Anyone ever done this?

[l'andorrà]

@osryan You mean that if profit is 1 pip, your SL will be 98 pips below open price, then a 2 pips profit will move the Sl 96 pips below open price?

[osryan]

@l-andorrà , yes that is correct. 2 pips for every 1 pip of movement.

[l'andorrà]

@osryan In that case you cannot use the trailing blocks by default. You will need to create a loop for that specific behaviour. I'm afraid loops are not my field of expertise, though. Maybe mro or roar can help.

[osryan]

Thanks @l-andorrà , that's kind of what I thought. I haven't dove into loops yet.