trailing stop modification
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Hello, I created a bot with pending orders and I would like that after activating the trailing stop Sl it immediately moves to the entry price and when the price goes back, the trailing stop also goes back, say, for 5 pips so that if activated, it does not close the position immediately. how can I do this?
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What do you exactly mean by 'after activating the trailing stop Sl it immediately moves to the entry price'? Do you mean moving the SL to BE as soon a trade is 1 pip in profit? That's too close to current price.
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Exactly. I wrote an example here it doesn't have to be 1pips. I just want the trailing stop sl to be more or less 2-3 pips away from the price after activating it, but when the price goes back, the SL should also go back some pips
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But then it is not s true trailing stop. You can do it, though. However, you need to be very precise when defining 'when price goes back'. You wil need to explicitly determine the distance in pips when that happens. But what's the point of moving the SL back after moving to BE to close to current price?
