In my opinion this is not a good approach, better to use hidden SL since the beginning, using an EA to check if the SL value is hit and closing the trade.
From that hypotetic EA, you can choose to not check SL closures when spread is bigger than your wanted value.
In my opinion this is not a good approach, better to use hidden SL since the beginning, using an EA to check if the SL value is hit and closing the trade.
From that hypotetic EA, you can choose to not check SL closures when spread is bigger than your wanted value.
- To widen SL - doesn't make sense (IMHO) as mid-night crazy spreads could get real wild and hit any widened SL.
- To remove SL before mid-night and reinstate SL after - you need to add this feature to EA on coding level (or do it manually).
Happy trading!
🙂
P.S. hidden SL - is still SL
So for example using Bid and Ask as SL to close the trade when price is hit. But now I'm confused so what I was trying to do may be useless.
What I meant for "hidden SL" means to not set SL directly on trades but to handle a closure in loss with an EA, checking current Ask/Bid (or also "Close" of previous closed candle can be an idea!) and seeing if the distance from current price and trade opening price is more than X points you want to use as SL.
Buy trades are opened on Ask and closed on Bid.
What I meant for "hidden SL" means to not set SL directly on trades but to handle a closure in loss with an EA, checking current Ask/Bid (or also "Close" of previous closed candle can be an idea!) and seeing if the distance from current price and trade opening price is more than X points you want to use as SL.
Fabio thanks for clarification, the initial idea was right then I got confused by some AI answer (should never trust AI 🤣).
You can code your EA to check "hidden SL" on all symbols, and not only the chart symbol.
You can code your EA to check "hidden SL" on all symbols, and not only the chart symbol.
Good morning everyone,
I was wondering if there's a way (or if you know an existing EA) that allows you to widen (or remove) the SL for a couple of hours at market closure (due to spreads getting wider) and then putting SL back (or close the position) when spreads come back to normal.
I'm thinking that won't be difficult to write an EA to do it (getting the spread from Bid-Ask and if it's higher than X amount it should increase SL by X, then when back to normal), but maybe there's already a feature/an existing EA out there (that I couldn't find).
I'm trying to do this because it happened that my positions were closed at Night for the spread widening to >200. I'm also trying to figure out a better prop/broker but even with raw spread it seems to happen on all Props/Brokers.
Thank you all.
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Good morning everyone,
I was wondering if there's a way (or if you know an existing EA) that allows you to widen (or remove) the SL for a couple of hours at market closure (due to spreads getting wider) and then putting SL back (or close the position) when spreads come back to normal.
I'm thinking that won't be difficult to write an EA to do it (getting the spread from Bid-Ask and if it's higher than X amount it should increase SL by X, then when back to normal), but maybe there's already a feature/an existing EA out there (that I couldn't find).
I'm trying to do this because it happened that my positions were closed at Night for the spread widening to >200. I'm also trying to figure out a better prop/broker but even with raw spread it seems to happen on all Props/Brokers.
Thank you all.