I’m looking for PO EA with these settings (less is more):
entry price
type (only really need buy stop & sell stop)
lot size
SL in pips
TP in pips
Trailing Stop in Pips
so say: 1.5001; buy; 1; 10; 50; 15
Maybe it’s already out there, if so please let me know…?
Cheers.
Sounds more like you want a pending order “script” rather than a full blown EA.
On second thought, it took me less time to find this, than it did to write up two replies.
I don’t know why the hell everyone treats a search engine like it has leprosy.
Missed the trailing stop!! I need this prior to entering trade…
Good luck with that … with most brokers you cannot place a trailing stop until price has moved a certain amount of pips in your favour.
And if you think about it, it makes sense.
By the way, I’m using a pretty cool EA allowing me to place OCO orders with MT4, regardless of the broker’s rules regarding minimum difference between market price and pending order price. The EA includes S/L and T/P points and is extremely easy to use.
It can be found searching for ‘OCO’ in the EA Section of MetaEditor’s library.
Cheers,
O.
I think most trailing stops only activate once the amount specified in pips is reached; in this case 15 pips in your favour… (so the minimum result would be to break even if this happens) - at least this is what I’m looking for…
The problem is that you cannot activate a T/S without price having moved in your direction first; it’s a technical issue.
There should be a way though to program an EA to wait for this movement to occur before executing a T/S … although I’ve never seen one.
Check the Metaquotes Community, maybe you’ll find one.
O.
I think you can place a pending order with T/S set in advance in Metatrader itself, though the minimum custom T/S is 15 pips, I was looking to specify less…
I’ve had a look at MQL4-EA Forums: there are various EAs available for Pending Orders and Trailing Stops, check them out.
I guess if the minimum T/S specified by your broker is 15 pips, he, like mine, probably quotes 5-digit prices. Brokers doing this treat pipettes as pips … so probably the minimum T/S you can place is 1.5 pips; at least, that’s how it is with my broker. I was a bit confused by this at first, too, when I saw my MT4 telling me ‘[I]20 pips minimum above or below current price for S/L and T/P[/I]’. In fact, what they meant was 2.0 pips.
Cheers,
O.