Hello,
Im looking for a certain feature inside the "Trailing Stop Loss Each Trade" Block (Group also).
For the Mode (Trail What?) STOP LOSS which is very near in similarity to the Trailing Profit Mode Feature. Where the TP gets smaller with every pip the trade is running out of profit.
The feature shall be as follows.
Pressupposed the Trailing Stop Loss is 20 Pips
The Start is Off
And the Step is 21
And the trade is already running in profits with plus 27 Pips
Now the feature:
I set a level of 30 pips
and as soon as the trade has hit this target. Means now it is running in Profits with 30 pips.
The originally set to 20 pips Trailing Stop Loss Line shall behave as follows.
For every Pips the trade from now on is falling out of profit the TSL Line shall ascend with one pip.
if the profit is 30 the stop shall be at 20 ( as originally)
if the profit becomes 29 it shall modify ( that means thighten up) to 19
if the profit becomes 28 it shall be at 18
if the profit becomes 27 it shall be at 17
And so on. (Till trade closes if case happens)
Furthermore
If the trade now runs back into profit again from 27 to 28
The TSL shall return to 18
If the trade now runs back into profit again from 28 to 29
The TSL shall return to 19
If the trade now runs back into profit again from 29 to 30
The TSL shall return to 20
And from that stage onward shall behave like originally SET =
TSL 20
Step 21
and now if agin it falls below 30 pips profit the same procedure again.
Additionally
If it hits the next target for example 40 pips
there it shall start the whole procedure as it did from the 30 pips target hit level onwards NOW from this 40 pips profit level onwards.
So the inputs would be like this
TARGET HIT LEVEL 30 PIPS
STEP of THL 10 PIPS
Step for starting tightening the originally set TSL of 20 Pips (in this case 1 Pip)
Also could be set to 5 Pips or so
And maybe something more that I havent mentioned yet.
Being necessary for this whole procedure.
But I think the idea is clear.
Everyone who works with trailing stop would be very interested in this I think.
And the MultiLevels function doent last to substitute this.
So please anyone who is skilled.
Why do not programm this feature into the Trailing Stop Loss Blocks
This feature is for not loosing so much of the already made profits
And I would be happy if you knew any better.
This one here looks abit similar
in the video
https://www.mql5.com/de/market/product/87325?source=Site+Market+MT4+Expert+Search+Rating006%3Adivergence
But I think this is not what I had been proposing