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EABuilder Pro

Stop loss - Trailing

The Stop loss - Trailing – Close module, will not set a stop loss (SL) directly after opening an order (see ‘1’ in image below), but will wait for the price to hit the threshold (see ‘2’ in image below). Only then the stop loss (SL) is set (see ‘3’ in image below). If the price hits the SL, the module closes the order. The module sets the SL of a buy order below the current price, not necessarily below the buy order’s open price. Because the SL is set below the current price, it’s possible that when the SL gets hit, the order is in profit; it’s also possible because of trailing. Many traders use this module to capture profits the moment the price retraces. For a sell order, everything is in reverse, so the module sets the SL of a sell order above the current price.

Stop loss
Trailing stop loss. SL moves up when the price moves up. SL can go into profit.

Settings

Section titled “Settings”

  • Profit threshold (pips): this is the threshold (in pips) an order has to hit, before the SL is set and the SL starts trailing. Before the threshold is hit, the module will have no effect. Example: if this value is set to 30, then the SL will be set (and the trailing will start) when the order has a profit of 30 pips.

  • Trail start value (pips): the amount of pips where the SL starts trailing. The SL is set at: Open price + Trail start value (pips). Examples: if set to -20, the SL is set to 20 pips of loss. If set to 0, the SL is set to break-even. If set to 20, the SL is set to 20 pips of profit.

  • Trail step size: the amount the trail will gain when the order gains new highs. Let’s assume you put the setting to 1. If the profit increases 1 pip above the threshold value, the trail will move 1 pip up as well. If the setting is set to 2, SL will go up 2 pips for every pip of additional profit, instead of 1.

  • Trail minimum distance (pips): the trail will not get closer in pips to the current price than set, in pips. This is useful when using a Trail step size bigger than 1 and you want the trail to keep a certain distance from the current price. Warning: when set to 0 or any negative number, the trail will be allowed to overtake the current price, causing the order to close before retracing.