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Srs trend manager modification

taju12

Member
Hello,
I am currently using the Trade Manager from sRs trend Rider. I find it a little bit too simplistic. (You still have to manually set your stop loss, then it will manage your first TP, which is 80% of your Trade size at 50% of the stop loss distance. Then it will close the last portion when the market changes... but it does not move stop to break even etc...).
MODIFICATION
1 The manager should be able to manage trades either placed manually or opened by another EA on the same currency pair.
2 It should be able to place the stop loss +2 automatically at the most recent swing low or high, ( swing low= a recent low candle with two higher candles on both sides while swing high= a recent high candle with two lower candles on both sides). where the stop loss is less than 10 pips which is the minimum of most brokers the EA should use the minimum allowed by the broker.
3 It should be able to adapt to 4 and 5 digit brokers.
TAKE PROFITS IN 3 PHASES
1 The original Initial profit taking be maintained but with an opened percentage to be decided by me, which is after 50% distance of the stop loss an X% of the lot size as indicated by me is closed. immediately after the initial TP then EA moves stop loss to 50% of original distance + spread. for instance if SL is -50 and spread is 3, then stop loss is moved to -22.
2 After an X pips move as indicated in favorable direction, then an X% of the initial lot size as will be indicated should be closed.if value is left at 0 then this function is ignored.
3 The same as 2 above, but here all remaining lot size is closed.if value left at 0 then function is ignored.
BREAK EVEN- After an X pip move stop loss moves to BE.
EXITS
The exit on the EA be maintained and can happen at anytime regardless of which level of TP is reached or not, all LOTS are closed. all parameters outlined above should be external at the input tab please.
I hope the good coders in this forum can help with this modification.
thanks in advance.
 

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  • sRs_Trade_Management_Robot.ex4
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StaticX

Member
Hi taju12,

Why don't you just use a better Trade Manager?

Try this one out it's from Forex Tool Shed. It's pretty simple to use, but you must read the manual. There are loads of options, like 2 sets of trailing stops, multiple take profit levels and stop loss levels. All based on either a % or number of pips. It pretty much covers everthing you will need.

Code:
[url=http://www.forextoolshed.com/]Forex Tool Shed[/url]

Cheers
StaticX
 

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