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Thread: EMA Trailing Stop Manager

  1. #1

    Default EMA Trailing Stop Manager

    Funyoo,

    when you have the time; if you can code this open order manager. I guess it can be use to manage/close open orders whether orders from Manual trades or orders opened by EA's.

    Thank you.

    EMA Trailing Stop Manager

    Indicator: "X" EMA (default: 5ema) at "X" number of shifts (default: +5)

    Stop Loss for short orders:
    -Initial stop loss applied when price of 1 or 2 previous candles closed below the EMA
    -SL executed: "X" number of pips (default:10), above EMA line of the "X" number candle/s (default:1) behind the current candle
    -Modify SL at the open of the next candle using the same logic above

    Stop Loss for open long orders:
    -Initial stop loss applied when price of 1 or 2 previous candles closed above the EMA
    -SL executed: "X" number of pips (default:10), below EMA line of the "X" number candle/s (default:1) behind the current candle
    -Modify SL at the open of the next candle using the same logic above


    Best if it can be applied only to one chart to manage all order in different pairs; since I will already have these pairs already opened with an EA running on it. So the SL order will be based on the same time frame of the open order to be managed.

    Option to apply only to profitable orders: T or F
    Option to manage by Magic number
    Option to manage by specific pair.

    Pics Attached
    Attached Images Attached Images EMA Trailing Stop Manager-ema-stoploss-sell-gif EMA Trailing Stop Manager-ema-stoploss-buy-gif 

  2. #2

    Default

    funyoo,

    Additional logic: swing low and swing high
    SL for short order
    -If current price is above 5ema then stop loss is placed on the recent high from last xnumber of bars
    SL for long order
    -If current price is below 5ema then stop loss is placed on the recent low from last xnumber

    If possible can you integrate the above exit strategy or Heiken Ashi, and or ABHAFX
    Many other trend based EA will benefit from this strategy.

    thanks.

  3. #3

    Default

    So far, I have overlayed this on Heiken Ashi smooth and Slope direction line.

    This strategy is a better exit strategy than closing the trades on reverse.

    I am so excited about this. Hopefully funyoo can integrate this on "Trending EAs" as an option.

  4. #4

    Default Overlay with Slope Direction Line.

    Overlay with Slope Direction Line.

    As you can see in Picture. EMA SL would have closed the trade before Slope Direction Line changed it's color. This one is about 40 pips difference.
    Attached Images Attached Images EMA Trailing Stop Manager-slope-overlay-gif 

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Tags for this Thread

candles, closing, color, eas, funyoo, heiken ashi, low, magic, managed, manual, pairs, pips, profitable, stop, strategy, time, trailing, trend

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