I place 2 separate orders for the same pr; both have the same SL and entry price (within a pip or so). Trade #1 will have its TP manually set by me & perhaps based on ATR, S/R, fib level, pivot point, whatever. Trade #2 will have a much greater TP (1:2, 1:3 or more R/R) and again the TP will be set manually.
What I need is: if TP #1 is hit then trade #2’s SL will be moved to BE (the orig. entry price.) Does anybody have or know of an indicator that will do this but simpler to use than Cave Mgr? Hope someone can help, dobro
Hi there! I’ve programmed an EA acording to your instructions. Please test it well before using live coz I haven’t tested much. Let me know if it works.
Requirements:
You have 2 ways of setting this EA:
Manual: You can put ticket number for order_tp_1 and order_tp_2 in the parameters of the EA, so it will use this tickets for the trade management.
Automatic: Live parameters order_tp_1=0 and order_tp_2 = 0. The EA will detect the trade with higher or lower TP depending if buy or sell. It will only work if there are only 2 trades in the same currency pair and of the same type (2 buys or 2 sells)
Attached EA file. Hope it works! Good luck! Please remember to check the live trading option so that the EA can modify the trade.
I was able to download your EA to custom indicators but I can’t get it to load on to a chart. Should it be in the EA folder instead? I have been racing around like a mad man so this has been my 1st opportunity to try it. Many thanks, d.