You basically describing a trailing stop-loss. Why complicate things. Just set trailing-stop on each trade instead of having a "basket" trailing stop.
There is already trailing stop function in MetaTrader and many trailing-stop EAs available for free in the CodeBase and many more in the Market.
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Hi all.
I've been reviewing various EAs on the MT4 marketplace but none seem to do what I am looking for.
The EA should calculate the PNL on every tick and always maintain the max PNL value reached, name it MaxPnl.
On every new MaxPnl greater than a threshold (e.g. $20 equity or 3 pips) it should update a SL order so that it triggers
X% below the MaxPnl.
Here is a complete example for parameters threshold=$20, percentage=40%
At 9:20 am the MaxPnl is $15, is $15 > $20 NO -> do nothing, SL is the same as originally set at the beginning of the trade
At 10:00 am the MaxPnl is $50, is $50 > $20 YES, then set a SL to 40% below the MaxPnl, i.e. we're locking in $30 of profit (slippage may still occur)
At 10:01 am the MaxPnl is $60, is $60 > $20 YES, then update the SL to 40% below the MaxPnl, i.e. $36 of locked in profit
Can you please recommend an EA that gives me this? I'd gladly pay $100 USD for it.