Trailing Stop

[davids9317]

Dear Admin,
I've subscribed and i'm happy with the product, very useful!

I have an EA which sets pending orders with stop losses and trigger levels relative to previous candles patterns, all works great. I want the stop loss to be trailed so that every time the price moves into profit by 1xRisk the stop moves behind by 1xRisk. What I mean is at 1R proffit the stop will be at break even, then 2R proffit the stop will be at 1R and so on. The stop loss is based on a previous candle high or low and I can't find the settings in the 'Trailing Stop (each trade)' block.

I've tried the 'Modfy Stops' block, this moves the stop the right amount if I enter -100% of current SL but it does this on every tick not in steps as as price moves 1R

Do you know a way to do this?

Thanks for your help.

Dave.

[fxDreema]

I'm not sure what 1R means, I guess it's a fixed value like 10 pips. I feel that you want to use the Step parameter, to modify SL only when the price moves certain amount of pips, in steps.

For the "Stop" parameter you have "Custom (level)" option. This is where Candle High/Low should be used. If I understand everything correctly.

[davids9317]

Thank for the reply, sorry about being unclear. by 1R I mean 'one times risk' with 1R I mean the amount of pips between the entry and the stop. Since the entry and stop are based on previous candles the value is different for each trade. Basically im setting the entry and stop at previous candle high and low, I want the stop to move in a step as you said but always in increments of the original pip amount. Ever time the price moves forward by the original pip amount the stop should jump by the same amount.

Thanks for your help.

[fxDreema]

So you want to use different step for each trade. This will require at least to remember somewhere what was the initial step of each trade. Now the trailing-stop block does not do that. Also, trades/orders does not have custom fields where we can store additional information. I had an idea to do this somehow, but the result will not be very good in any way. So I really don't know what to offer

[davids9317]

Ok no problem, I'm just trying to automate a manual strategy, maybe it should stay manual!

Thanks for your help.

[fxDreema]

And how do you remember initial steps?