how to set stop loss to highest high of previous 5 bars when selling at market price

Hello, 

I would be most grateful if someone would explain to me the way to set stoploss at highest high of previous 5 bars when selling at market ( or lowest low of previous 5 bars when buying). I suspect this may be very simple but currently beyond me.

Thanks in advance

Brett

ok, As often happens, I think I figured out how to do this using the custom indicator “Highest, Lowest”. But is it possible to set the stop loss to Highest (5) plus say 2 pips. How?

Cheers

Brett

Salve

E’ possibile Creare un EA con Stop Loss  (buy e sell) che si apre alle ore 21,45 e che si chiude il giorno dopo alle 08.05. Lo stop loss deve aggiornarsi in automatico, senza uscire dal trade. Il broker chiude alle ore 22.00 e riapre alle ore 8.00 del giorno dopo. Ho provato con EA Wizard ma non ancora riesco ad ottenere ciò. Inoltre potete segnalarmi un utente italiano che usa Ea Wizard. Grazie.

P.s. Traduco con google Traslator ( perdonate ma non parlo Inglese)

You need to use ‘custom price level’ for SL and Addition function. See screenshot

File: 2016-01-22_22-28-43.png

File: 2016-01-22_22-32-00.png

Grazie mille

E’ molto professionale. 

Scusa ma non potresti spedirmi la strategia così capisco meglio …Ti chiede gentilmente se puoi mandarmi anche altre esempi. :huh:

Ripeto la necessità se ci sono utenti italiani con cui comunicare. Grazie

Thank you, Tomas… explains it perfectly. What a good resource EA Wizard is, best trading aid I ever puchased.

Brett

Hi sorry to pull out this thread again.

What if I wanted to have a stoploss at highest high of previous 5 candles + 3 pips?How can i set that as a stoploss?thanks!

maybe you can make your own template or edit your strategy…

you set stoploss to price level and set the formula like this

Highest(high)(5) with shift 1 + FixedPips(3)

That helps alot!Thanks!

Wow, I cannot believe I only just discovered how to do this. What a great piece of software!