Does anyone know if there is a way to automatically move a stop loss or take profit based on the price reaching a certain level using Trading Station not MT4? I am looking at one time change of a certain amount of pips based on price hitting a certain level not really a trailing stop.
Hi Grock,
There is a free custom strategy for Trading Station available at FXCodeBase.com called Stage Trailing Stop that might suit your purpose. It allows you to specify a stop price level for each stage as your trade progresses into profit. In your case you would only need two stages. The initial stage would be before your specified price level was reached, and the second stage would be afterwards. Here’s a link where you can download Stage Trailing Stop for the Trading Station.
And here’s an article on DailyFX.com about how to install custom indicators and strategies on the Trading Station.
Jason
Great thanks, that sounds like it might be what I’m looking for. I will look it up.
My pleasure, let me know if you have any additional questions 