EA newby question .... can an EA be set for the 2 following scenarios...?

Beginner Questions
1

I know nothing about EAs, but have 2 very specific things I am trying to automate as follows…

  1. Can an EA be programmed to set a Trail Stop if price gets within a specified distance away from a TP that has been set.?

and…

  1. Can an EA be programmed to add a Stop Loss to a trade at a given specific time…i.e 14:35:30secs etc ?

Thanks in advance.

2

Hey @paul1000,

Yes … You can program the stop to move to breakeven (Inside the position) once a parameter set amount of pips (ie: distance from TP) has been reached and continue to trail from that point on.

Yes… A stop can be programmed to be applied to a set level or set time on a Chart…

I hope this answers your question correctly. Cheers

3

@Trendswithbenefits … thanks for the clarification… as a newby to EAs… would it be right to assume that those 2 codes would be fairly basic to write in the scheme of things…?

Would it be a steep learning curve for someone who has never programmed EAs to learn how to programme for scratch…? or would it make better sense of time (if it is a basic piece of code for each) to pay somebody from Upwork who can do it quickly ?

Thanks again.

4

Yes… and No… Your not going to learn to code overnight… I’ve been at it for 3 years and still have my limitations… Some platforms ie: Ctrader 3.3 will be able to handle the BE and Trailing Stop routine without having to use a cBot… that functionality is built into the platform…

Rather than trying reinvent the wheel… have a look through the MQL5 site (MT4) for an existing EA. There is 1000’s of existing algorithms both FREE and paid that may do the job and may save you a lot of time…

Edit: There is also a section on the MQL5 Site dedicated to programming EA’s & Indicators.