Trailing with take profit, without stop loss

If you need an Indicator or Signal developed or translated from other language, please post all Indicator development REQUESTS to this section here.

Moderator: admin

Trailing with take profit, without stop loss

Postby adika01 » Wed Mar 21, 2018 3:31 am

Hello to All from Hungary,

I am looking for a solution for trailing without setting stop loss.
To be honest, I had more positions, where I was set the SL limit too near to entry, and my position was closed because of a high spike, before the trend was turning into the right direction. If I set it more far from entry point, maybe I wont make a profit at all.
There are situations, where I am sure, the trend will turn, and to maximize profit, I want to set a positive SL limit, which would increase, if trend moves into right direction.

For example:

EUR/USD is at 1.2300, and moves lower. My entry order is at 1.2290, TP limit is 1.2350. I don't want to set SL limit with trailing (I know, it is risky :) ), because I am sure, the trend will turn, but I can't figure it out, where exactly.
If trend turns into right direction, and reaches TP limit, to maximize profit, I want to make it a SL limit, and trail the exchange rate by a previously set number of pips.
I hope there is already a solution for such cases, but I couldn't find it. Or maybe there is a strategy, which sets automatically the limits of orders, when the preset numbers was reached?

Many thanks for Your help!

Ádám
adika01
 
Posts: 7
Joined: Sun Jul 22, 2012 1:54 am

Re: Trailing with take profit, without stop loss

Postby Apprentice » Thu Mar 22, 2018 7:42 am

Your request is added to the development list under Id Number 4086
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 18986
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: Trailing with take profit, without stop loss

Postby adika01 » Thu Mar 22, 2018 2:18 pm

Hello Apprentice!

Thanks for the help. As I was thinking, I had an idea, which could make the code more simple.
If it would be possible to create a code, which gives a Stop Loss limit + dynamic trailing for every live order, which reaches a predefined profit limit, that would perfect.
For example my entry order, which hasn't got any LS or TP triggers at 1.2300. After it reaches 20 pips of profit, it gets automatically a positive SL limit (e.g. 10 pips) and a 10 pip dynamic trailing. And this could be valid for every open order. If possible, the profit limit, SL and trailing pips needs to be set in the code manually, becaue other pair needs other numbers.
What do You think?

Thanks!
adika01
 
Posts: 7
Joined: Sun Jul 22, 2012 1:54 am

Re: Trailing with take profit, without stop loss

Postby Apprentice » Fri Mar 23, 2018 5:31 am

We are Not 100% sure, but I think Breakeven Strategy will suffice
viewtopic.php?f=31&t=13498
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 18986
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia


Return to Indicator and Signal Requests

Who is online

Users browsing this forum: No registered users and 6 guests