Not logged in
Viewing 2 posts - 1 through 2 (of 2 total)

Forums>AlgoWizard / EA Wizard>General Discussion>Manual Trades vs Trailing Profit

  • #113782 |
    Participant
    81 Posts

    Have you worked it out yet with EA Wizard, where if i enter a manual position either short or long and have the EA attached when i enter the manual order, is there a way that it can trail a profit?

     

    I seen in a past post you said you might possibly add to new update, just checking. I am just looking to program an EA that only does trailing profits or take profits with manual orders. If you have any other suggestion it would be appreciated as well. 

    #130790
    Customer
    484 Posts

    I’ll copy and paste this from our PM discussion incase anybody else is interested for future references.
    It works. It was just not compatible with the indicator I was using (chandelier). I’m certain it would work using a standard ATR stop instead which is exactly the same thing. Just havent got around to it in a while.

     

     

    Its possible but I had problems with it do to the indicator I was using which was a chandelier so I stopped messing it with it but might come back to it and just use an ATR stop which is basically the same. The indicator had a long and short side depending on which way the market was currently trending and if I tried to trade against the indicator’s direction like buy a dip it would sometimes mess it up. (move my SL to 0.0000 or something like that which was the indicator’s programming).

    Basic layout was something like
    if order position(magiclong) is long ////magic# is 0 for manual orders
    and order sl(magiclong) is < where the current TS should be ////makes sure current SL is lower than trail stop before moving so it only moves it up

    Then
    Move SL(magiclong) up to your trailing stop indicator.

    That’s everything thats needed for it to work. Of course you can add in a delay to wait for a certain distance to be reached which is pretty simple. Something like:
    IF
    Bid<orderopeningprice+converttorealpips(atr(10)*1.5) //// for long position if market is 1.5*atr10 above entry, then trail stop.

    Short = opposite rules

     

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.