Topic: Dynamic Closing Condition
Currently, there are 2 groups of closing option, 1. Those in the 1st list such as Bar Closing, Pivot Pt, BB, Trailing etc and 2nd group belongs to those you choose with Bar closing and then you add your closing conditions.
Under the 1st group of closing option, I can only use one type of closing condition (if I'm not using the Bar closing option), eg. If I choose Pivot Points, I cannot use others such as trailing stop limit. Also if I use Bar closing options, I cannot use Pivot Points or such as BB, Trailing, etc found in the first list.
Popov, can you group all the closing options in 1 and 2 together so that I can use these following options
so that I can set closing as (a) Pivot Point, (b) Trailing stop limit and (c) add my own closing conditions with various indicators criteria. Hence, my EA has 3 dynamic closing conditions (a, b or c).
This method would allow me to set a very dynamic way of closing my trades. Right now I'm trying to find the optimise way to close my winning trades. Often I have trades opened with high profits but because of a slow responsive or "static" closing conditions (only 1 closing theory), some of my positions closed at SL because it didn't reach my TP (thanks to you that you fixed the Breakeven, now I minimised my loss) or low profit, eg I have one position that was 2400 pips but because of my poor closing conditions, it droped to 100 pips and remain opened.
If I set TP too low, I missed those opportunities whereby my EA could reached above 1000 or 2000 pips. If I set TP too high and when market make a sudden turn, all my profit turned to loss. Given the volatility of market conditions, Closing conditions should be more dynamic so that a Strategy (trading theory) has the chance to fulfill it's maximise potential yet flexible enough to response to market changes.
With a dynamic closing conditions whereby I can use both the list of closing condition in option 1 and 2. Then I can set my closing conditions with the possibilities of reaching it's maximize profit and when all else fail, i.e. market didn't continue as I predicted, then condition b) Pivot point such as S3, or c) trailing stop limit can provide a safety net for my strategy to fall in to protect my profits.