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Forums>AlgoWizard / EA Wizard>General Discussion>How to set a StopLoss/Exit Trading Rule with an indicator?

  • #112515 |
    Participant
    13 Posts

    Hello everyone,

     

    could you tell me please how to set a Trading Rule (and in which EAW Trading Rule Window), that stops out a Trade with an Indicator and not a Take Profit Rule in Pips?

     

    Thanks for your help and feedback.

     

    Birdy70

     

    See attached Examples.

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    #126052
    Mark Fric
    Administrator
    1182 Posts

    Hello,

     

    it depends on what exactly you want to do:

     

    – if you want to have a trading rule that checks for example when EMA(10) crosses below EMA(20)  then close the trade you can specify a rule like this:

    IF

    EMA(10) crosses below EMA(20)

    THEN

    Order Management -> ClosePosition(some magic number)

     

     

    – if you want to set SL or PT to an indicator value instead of fixed pips you can do it directly in order edit screen in Stop Loss dialog by choosing Stop Loss is a specific price level and selecting the indicator or formula you want to use.

    I’m attaching a screenshot.

    Attachments in this forum are visible only for registered users.

    Mark
    StrategyQuant architect

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