Hello - I'm new to this so if it's a noob question try not 'tut'.

I'm trying to create a buy signal that sets the TP at a % of the lot value... for example:

I buy 1 lot of EUR/USD (which for arguments sake equates to 1000 EUR) I would like to close the trade once the value has gone up 5% e.g. to 1050 EUR. Giving a 5% increase in that specific trade.

I appreciate this is most likely a simple question any help would be welcome...