- Chandelier
- Indicators: Money Manager Graphic Tool
- How to Draw a Reference Lines Every 10 Pips
It is best to calculate your SL and TP based on market conditions, instead of hoping market conditions will adjust to your hard levels.
Then you can calculate the ratio and dismiss the the trade if the ratio is not to your liking.
Also adjusting levels after entering a trade can be beneficial.
It is best to calculate your SL and TP based on market conditions, instead of hoping market conditions will adjust to your hard levels.
Then you can calculate the ratio and dismiss the the trade if the ratio is not to your liking.
Also adjusting levels after entering a trade can be beneficial.
Thats what I would do if trading manually. Is it possible to get an EA to plot support resistant levels, then set the TP a few pips below/above those lines that the trade would next reach, and reject the order if the TP is less than the stop loss?
Thats what I would do if trading manually. Is it possible to get an EA to plot support resistant levels, then set the TP a few pips below/above those lines that the trade would next reach, and reject the order if the TP is less than the stop loss?
Yes, everything is possible.
See for example https://www.mql5.com/en/docs/constants/objectconstants/enum_object/obj_fibo
On the left of the page you will find various other types, from simple line to a thumb up ...
- www.mql5.com
Thats what I would do if trading manually. Is it possible to get an EA to plot support resistant levels, then set the TP a few pips below/above those lines that the trade would next reach, and reject the order if the TP is less than the stop loss?
There is a theory that you can use moving averages as dynamic support and resistance levels.
- docs.mql4.com
I'm using MT4, will this https://www.mql5.com/en/docs/constants/objectconstants/enum_object/obj_fibo work in MT4 or only on MT5?
- www.mql5.com
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use