Job finished
Specification
Hi, I am interested in having an automated TP adjuster. I am also interested in being able to cancel pending orders under certain conditions.
I use MT4.
I will set pending trade and set SL and original TP manually. SL will never be changed by EA. EA will never open a trade on it's own.
Conditions for EA to function:
If trade is 0.3 lots or less, then EA does nothing to this trade. EA does not operate on trades with lot size of 0.3 or less.
(Please note in some pictures I have it as:
less than 0.3 lots, do not adjust. Should be 0.3 lots or less, do not adjust.)
If trade > 0.3 lots I want to have TP to be 9 pips from lowest point.
Ex:
Buy at 1.0000, TP is 1.0009 (set manually via pending). Price first goes against me to 0.9998. TP should be modified to 1.0007.
If price went to 0.9990, TP should be 0.9999.
It should act like a trailing stop in the reverse direction of the trade.
See Pic1 and Pic2 for examples.
Part 2
Cancelling pending orders:
I sometimes place staggered pending orders at slightly different prices. If one of the pending orders is executed and hits TP, I want to cancel all remaining pending orders that did not get executed.
See Pic3.
Let me know if you have any questions, I am happy to clarify.
Thanks!