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I have 2 EAs that work just fine. I just do not like the way the current stop loss feature works.
1. Stop Loss- to be a specific price that is entered. For example, if price is trading on EURUSD at 107.50, EA is set to SELL, and X MINUTES is set to 10, STOP LOSS is set to 108.00, it will make that the stop loss on all orders the EA opens. When STOP LOSS value is hit then EA will shut off and not open an more SELL orders in this example.
2. Start Stop Movement: this value is in PIPS. For example if the value is set to 50, then when price has moved 50 PIPS of profit it will then move the stop the number of PIPS in the STOP MOVEMENT setting.
3. Stop Movement Setting: this value is in PIPS. This is the number of PIPS to move the stop after the START STOP MOVEMENT value has been reached. The will move the stop X pips into profit from open order price, it will NOT move it based on the original STOP LOSS price.
4. Trailing Stop Setting: this is a value in PIPS. After the initial stop movement has started this is how much further price must move before STOP MOVEMENT is again initiated. START STOP MOVEMENT is 50, and STOP MOVEMENT is 10, once the 50 PIPS of profit has been achieved then the stop will be moved 10 PIPS into profit from the OPEN order price. If TRAILING STOP is 5, then when price has moved 55 PIPS into profit the stop will be moved another 10 PIPS into profit from the open order price so now 20 pips of profit has been locked in.
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