This is Kezam from ZA... South Africa.
Is there any EA that accomplishes the following?
1. Once the desired circumstance occurs you enter a trade.
2. Your trade is entered with a stop set at 10 pips below your entry price.
3. Once it moves sufficiently far you promptly replace your stop to your entry price at ‘’Break even’. The setting is (stop = open price)
a. Scenario A: If the market reverses you are stopped out at beak even.
b. Scenario B: If the market advances + 10 pips, quickly move up your stops by another 5 pips to secure a profit ASAP. If the market reverses at this point you are stopped out with 5 pip profit (stop = open price +5)
3. If the market advances another + 5 pips at this point, quickly move up your stops by another 5 pips and set a 10 pip trailing Stop.
4. At this point you have secured a minimum 10 pip profit if the market reverses. If the market continues to advance your trailing stop becomes the ‘Scalping Ratchet’. Whatever pips are secured at this point are bonus pips.
Comments are invited: