Time and Pip Partial Close: ScaleOutPips; ScaleOutTime; ScaleOut%
Time Close is a time based one-time close condition. It allows you to set a timer, that if at 0 will partially or entirely close your open positions. You can define time value with the ScaleOutTime command. It can be any value ≥0. Time is measured in seconds. Once at zero, the EA will partially close the percentage of the order that was specified with the ScaleOutPercent parameter. As such, it can be any value between 0 and 100. Choose 0 to disable this function and 100 to close the entire amount at ScaleOutTime.
You can useScaleOutPips to define a pip distance at which the EA will initiate theScaleOutPercent command. IfScaleOutTime andScaleOutPips are activated together, the EA will only use the one whichever is triggered first.
Time Stop: StopTime, StopPips, CloseIfError
Time Stop is a time-based one-time stop adjustment. It allows you to set a timer, that if at 0 will adjust your Stop. You can set the timer with Stop_Time parameter in seconds. It begins, once the position is open. If Stop_Time reaches 0, the EA will try to modify the position to entry price + Stop_Pips. Therefore, Stop_Pips can be any positive and negative number including 0. If Stop_Pips is negative, your entry price will be between the Stop and the current price. If it is positive, Your stop will be closer to the current price than your entry. If it is 0, your stop will be equal to your break-even entry price.
CloseIfError is a protective measure in case the stop placement results in an error (Invalid SL/TP). This may be because the Stop is too close to the current price or because the current price is closer to the entry price than your desired Stop. If CloseIfError is true, the EA will close the position with a market order at the current price. Set it to false to disable this feature. We would like to encourage you to only disable this feature if you are using conservative stop parameters. Otherwise, if all your stop mechanisms result in an error, you could find yourself in a position with no SL at all!
If you would like to disable Time Stop altogether, set Stop_Time to 0.
Example 1: BUY USD/JPY @ 115.22 Stop_Time:3 , StopPips: -10, CloseIfError: true
After three seconds, the EA will adjust the Stop to 115.12. The EA will close the position should the adjustment fail.
Example 2: BUY GBP/USD @ 1.2432 Stop_Time:5 , StopPips: 0, CloseIfError: false
After 5 seconds, the EA will adjust the Stop to 1.2332. The EA won’t close the position should the adjustment fail.
First Target: FT_Ini, FT_Stop
First Target is a one-time stop adjustment that allows you to adjust your SL to a predefined level once a first target is reached.
FT_ini initiates the stop adjustment after a certain amount of pips, measured from the entry point. As such, Ft_ini can be any value ≥0. Once the position reaches FT_ini, it will be adjusted to the value in FT_Stop. This is the first target stop. It can be any positive or negative value including 0.
The First Target function works for both Level1 and Level2 strategies combined.
If you would like to deactivate it, please set FT_Ini = 0.
If the adjustment fails, because the EA returns an ‘Invalid SL/TP’ message, it will retry but won’t take any other protective measure.
Example1: Buy USD/JPY @105.22 FT_ini = 7.5 FT_Stop= 0.5
Once the position reaches 105.295, your Stop will automatically be adjusted to 105.225
Example 2: Sell XAU/USD @ 1222.85 FT_Ini = 5 FT_Stop = -20
Once you position reaches 1222.35, your Stop will automatically be adjusted to 1224.85
Trailing Stop: Trailing_Ini, Trailing_Stop, Trailing_UseCurrentPrice
Trailing Stop is a stop adjustment feature that allows you to continuously adjust your Stop at a fixed distance from either the entry or the current price.
Use Trailing_Ini, to define the distance in pips at which the trailing stop gets activated. It will be measured from your entry point and can be any number ≥0. Once the position reaches this level, the Stop will automatically be adjusted to the value defined in Traling_Stop. There are two different ways how Trailing_Stop can operate:
If UseCurrentPrice is set to true, the EA will move the open position to the current price – Trailing_Stop. As such, it can be any value ≥0. If any multiple of Trailing_Ini (ie 2Trailing_Ini) is reached, this action will be repeated and the stop readjusted to current price – Trailing_Stop. This way, you can keep your order at a fixed distance relative to the current price.
If UseCurrentPrice is set to false, the EA will adjust the Trailing Stop relative to the entry price. Once Trailing_Ini is reached, it will move the stop to Trailing_Stop. As such, it can be any positive or negative value including 0. If your position reaches any multiple of Trailing_Ini (ie 2Trailing_Ini), the position will be readjusted to 2Trailing_Stop. In case the Trailing Stop value is negative – and in order to achieve a gradual rise in the SL level- the second adjustment will take place at the entry level and the third adjustment at 2Trailing_Stop.
In order to deactivate this feature, please set Trailing_Ini = 0.
If the adjustment fails, because the EA returns an ‘Invalid SL/TP’ message, it will retry but won’t take any other protective measures.
Please note that the EA won’t adjust the SL if one of the other stop mechanisms has already adjusted to a level closer to the current price.
BUY EUR/USD@ 1.1178 Trailing_Ini = 10 Trailing_Stop = 5 TrailingUseCurrentPrice= true
Once the positions reaches 1.1188 (Entry price + Trailing_Ini), the Stop will be adjusted to 1.1183 (current price – Trailing_Stop). Once the position reaches 1.1198 (Entry price + 2Trailing_Ini), it will be adjusted to 1.1193 (current price – Trailing_Stop).
SELL OILWTI@ 53.255 Trailing_Ini =5 Trailing_Stop = 2 TrailingUseCurrentPrice= false
Once the position reaches 53.205 (entry price – Trailing_Ini), the Stop will be adjusted to 53.23 (entry price – Trailing_Stop). Once the position reaches 53.155, it will be adjusted to 53.21 (entry price – 2Trailing_Stop).
BUY GBP/USD@ 1.3329 Trailing_Ini = 5 Trailing_Stop = -4 TrailingUseCurrentPrice= false
Once the position reaches 1.3334 (entry price + Trailing_Ini), the Stop will be adjusted to 1.3325 (entry price + Trailing_Stop). Once the position reaches 1.3339 (entry price + 2Trailing_Ini), the Stop will be adjusted to 1.3329 (entry price). Once the position reaches 1.3344 (entry price + 3Trailing_Ini), the Stop will be adjusted to 1.3333(entry price + Trailing_Stop).