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Stop-Loss based on take-profit value

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Lea hosn

Subscriber, bbp_participant, sq-ultimate, 3 replies.

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1 year ago #280860

hello ,

i want the stop-loss to be 3 times less than the take-profit , but the take profit is not a number eg.15 , its a value of indicator , so it differs from time to time , how i can make it relative to the take profit ,

stoploss = take profit / 3

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tomas262

Administrator, sq-ultimate, 2 replies.

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1 year ago #280889

Hi,

you simply need to calculate price distance from your indicator BEFORE the order is sent.

Indi +/- entry (close/open) price

Then use “ConvertPriceToPips(priceDiff)” and save into a distancePips variable. Then use a variable = round ( distancePips / 3) to get pips for SL

 

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