Spécifications
The trailing stop will be based on achieved risk to reward.
I generally have had success achieving a 1:3 Risk to reward ratio, so I would want the EA to secure my profits up until I reach that goal.
Example:
SL is set at 30 pips
TP is set to 90 pips
When in profit by 15 pips, EA would move stop to Break Even.
Every 15 pips after that, Stop would be moved 15 more pips. Basically following this line of achievement:
1. Enter Trade. SL @ 30 pips
2. Trade reaches 15 Pips profit (1:0.5 RR), SL moves to Break Even (Guarantee Risk free)
3. Trade reaches 30 Pips profit (1:1 RR) SL moves to 15 pips profit (Guarantee 1/0.5 RR)
4. Trade reaches 45 Pips profit (1:1.5 RR) SL moves to 30 pips profit (Guarantee 1:1 RR)
5. Trade reaches 60 Pips profit (1:2 RR) SL moves to 45 pips profit (Guarantee 1:1.5 RR)
6. Trade reaches 75 Pips profit (1:2.5 RR) SL moves to 60 pips profit (Guarantee 1:2 RR)
7 Trade reaches 90 pips profit (1:3) Trade is already closed.
This needs to work based on determined Risk to Reward. My original stop could range anywhere from 30 to 50 pips.
Meaning the EA needs to calculate the R:R based on how I set my stop and TP, and then engage the fixed step based on that.
I have looked everywhere for something like this, but unfortunately I have not found anything. On MT4, you can set a trailing stop, but it is not fixed and updates on each tick, and not achieved price.
I would appreciate any help from the community on this one.