Topic: similar to trailing stop
i would like to use the concept of trailing stop,but the option provided by the mt4 is like on every tick. i dont want that. i only want to move the stoploss on certain conditions,
For easier understanding, I've place ABCDEF on the y-axis.
State 1 - Sell at B, Stoploss at A, Takeprofit at F
A - Sell Order Stoploss
B - Current market price, Sell Order
F- Sell Order TakeProfit
State 2 - Market moves down to C, move Stoploss to B,
B - Sell Order, Sell Order Stoploss
C - Current market price
F - Sell Order TakeProfit
State 3 - Market moves down to D, move Stoploss to C
B - Sell Order
C - Sell Order Stoploss
D - Current market price
F - Sell Order TakeProfit.
I have an EA with Bar closing, CCI oscillator, closing hourly high low.
since I dont want any trades on friday and sunday. I will add Days of the week. Do we have something for adjusting stoploss like i have mentioned above.