Most of the brokers out there won't let us scalpers use tight StopLosses or Modify the orders with a tight Trailing Stop. Attached is some code to facilitate this function.

To use the TTS, you’ll need the following setup.
1. A global variable setup with
a. extern int TrailingAct
b. extern int TrailingStep
c. int TrailingPrice

2. Insert the functions into your code.

3. Make sure that you reset the global variable TrailingPrice to 0 after you close your trades. I have a function that calculates current orders and if there are 0 then the first line after it is to reset TrailingPrice then OpenOrders().

note: this version won't modify the order if the trailing stop is within 8 pips of the current price, but will still close according to the TS.

Attached Files

Tight Trailing Stops.mq4 (4.7 KB, 686 views)

Great! Thanks for the quick reply! Now I am wondering what to do with it.
I am not a coder and I guess one needs to attach to an ea to work.
I want to manually open trades with the trailing stop to work.

If you want to track manual orders, you'll have to use this version. It will only track one open order per currency at the moment.

Attach the EA and check the box that says "allow live trading". Set the TrailingAct to the level of profit (in pips) that you want to start the trailing stop. Set Trailing step to the amount of pips that you would like to trail.

Attached Files

Tight Trailing Stops(manual).mq4 (5.0 KB, 556 views)

Thank you I will give it a try!

I have attached a screen shot. Are my settings correct? I want a 9 tp and trailing of 6. Should the other settings be true or false? As i mentioned before I am not a coder.

Attached Images

ScreenHunter_1.gif (61.5 KB, 1387 views)

I have attached ea to charts, opened only one trade per pair, but I dont think it is working. Any Suggestions.?

If you select tight trailing stops to be true it will close the trade after the amount of pips selected in ScalpPips. This is for setting a TP lower than what your broker will allow.

When you want to setup a trailing stop, you will have to change UseTrailing to true. Then the TrailingAct is the activation point where the trailing stop starts to trail. For example, if i want my trailing stop to kick in only after there has been a 10 pip increase in my position, I would set the TrailingAct to 10 (or 10 pips). The TrailingStep (which I should probably rename) is the amount of pips will trail the highest point in the open position. In short, if you want a traditional trailing stop, just set the TrailingAct to 0 and the TrailingStep to the amount you would like to trail by. I hope this helps.

Nic

Nic,

You guys are great, thanks for the prompt reply!

I am currently running the ea, seems to be working, however the modify trade window keeps coming up. I am +11pips at this time have the stop set at 9 so I will see when it comes down if it kicks in. Thank you

Jim

Hi Wanna be a trader , did you get this working well ?