Take profit with indicators.
-
Hello everyone. How can I build a trade close block with two indicators substituting for take profit in pips? Any explanatory video? thanks for your help
-
Why don't you use a standard 'condition' block with those indicators and then connect them to a standard 'close trades' block?
-
@l-andorrà Hi I do not know how to do it. Any explanatory video or example?
-
@Campero Easy. You can select an indicator as your initial take profit by doing this:
However, you will have to be sure that this makes sense, because the TP for a buy needs to be ABOVE current price when the trade is open. Otherwise the MT4 will not be able to execute it.
-
@l-andorrà Sorry. I couldn’t explain. What I need is a block that runs the reverse operation for the take profit Example: Two indicators, moving average 8 (fast) and moving average 50 (slow). When the fast moving average crosses upwards, buy, I need a block that when the fast moving average crosses down closes the operation, which works as a take profit. Thanks for your help.
-
So use these to EMA’s in a condition block
Choose in the middle of the block crosses above
Then in a different connection make if trade (filtered by buy or sell)
Put in the same values but then crosses below in the middle
After that put the block close trade
Do the same for sells but then the other way around -
@Campero Then you need this:
-
@l-andorrà Thank you. Thank you.
-
You're welcome.
