SL 2BE and SL 2 BE Add Pips

How do you interpret the Move SL 2 BE function in the building blocks when setting a range? The function determines when to move the Stop Loss to Break Even, but from the course, there is no understanding of how to set the parameters.

To move the SL to BE, I NEED to decide WHEN the SL should be moved, i.e., when the temporary trade gain (PnL) reaches a certain level. So, if I set a range of 20/30 pips with a step of 1, what does it mean?

Does it mean that upon reaching a profit between 20/30 pips, with a test for each pip, the stop loss is moved to BE? And if I set a fixed value, for example, 2, what does it mean?

The same applies to SL 2 BE Add Pips. If I choose a range, am I deciding the pips to add to BE, or am I deciding when the SL, upon reaching a certain profit, should be moved to BE?

I would like to know how to configure in the Building Blocks for the Break Even to be activated, for example, when the price has moved a distance equal to twice the distance between the entry price and the stop loss (i.e., when it has moved the same distance as from the entry to the stop loss), or when it has moved X pips.

I would also like to know how to configure the Trailing Stop so that it is activated using the same distance parameters from the entry as mentioned above, or after the price has moved X pips.

Thank you

Christina,

you can modify the building block to fit your needs and activate “move SL to BE” using different triggers

If you need more advanced management you need to use the AlgoWIzard module to setup specific rules