It is so very disappointing when the price does not have enough points
to achieve Take Profit and makes a reversal. This EA sets virtual levels
near the TakeProfit levels. This EA sets virtual levels next to
TakeProfit orders. If these levels are reached by price, breakeven or
trailing stop is applied for an order. This is a free version of the EA. It works only on NZDUSD.
Features
This EA does not set new orders. The aim of this EA is to manage stop
losses of existing orders that are set by another EA or manually (magic
number equals 0). For correct work, the Expert Advisor should be
installed in a new chart window. To demonstrate the EA in test mode, the
EA randomly sets orders and applies the “catch” algorithm to them.
Parameters
- Type of Orders – orders, which will be managed by the EA.
(BUY – all buy orders, SELL – all sell orders, BY_MAGIC – in the Filter
field should be listed “magic” order numbers comma-separated, BY_TICKET
– in the Filter field order tickets should be listed comma-separated,
ALL – all orders). - Filter – depends on Type of Orders parameter. In this parameter, tickets or “magic” numbers are enumerated comma-separated.
- Method to measure the distance – Distance parameter
is calculated in points or percentages of the total distance between
the order opening price and the value of the take profit. - Distance – distance between “catch” price and take profit (indicated in points or percentage).
- Breakeven Interval (in Point) – interval in points between “catch” price and the price, at which the level is set to breakeven.
- TrailingStop – use trailing stop after setting a breakeven.
- Color of “catcher” line – color of the “catch” line.
- Style of “catcher” line – style of the “catch” line.