Feature request: additional “Move SL to profit”

[muchgeneric]

Hello,
Thank you again so much for this amazing EA!

I use the “Profit value (points) to move SL to breakeven” and “Breakeven extra profit value (points)” parameters/settings, and I'm wondering whether you would consider adding extra parameters like that (could be optional, controlled via EA settings window) that have the same purpose of moving SL to breakeven profit:

For example,
I use the existing parameters to set SL to 10 pips once it went over 13 pips. Kind of like TP 1, if you wish.
Then, I use the requested parameters to set SL to 100 pips once it went over 103 pips. Kind of like TP 2, if you wish.

And then maybe additional optional sets of parameters could be added for TP 3, TP 4, and so on.

What do you think?

[EarnForex]

Hello!

How is this substantially different using a trailing stop-loss?

[muchgeneric]

Hello!

Sorry for the delayed response.

I realize this is not how you envisioned this setting to work, but I love your EA, and I would like to use it like in my example.

I think this is different from a trailing stop-loss, as in that 90-pip range between TP1 and TP2 there could be a lot of back-and-forth movement, and I don't want to get kicked out at, let's say, 50 pips if I know that if it moved past 10 pips it's most likely to get to 100 pips.
I would have to use a large trailing stop-loss, so I don't get kicked out in the range between 10 and 100, but I can use this requested setting with tighter SL, as it kicks in only after 103 pips.

Please let me know if this still doesn't make sense.

[muchgeneric]

For your reference, I also use a trailing stop-loss setting in a way that's probably different from other traders' use case:

Quite often, I use buy stops and sell stops, so I have the “Profit value (points) to start trailing SL” set to a negative value, so that when my buy or sell stop order is picked up the “Trailing SL value (points)” acts as a feature that automatically adds SL to all my trades, even if my order didn't have it.
On MT5, this is easier to do manually, as you can use points for SL, but this is a huge help on MT4, where you have to calculate SL price manually instead of using points.

Once my order is picked up and an SL is set by the trailing value, most of the time I disable at first and when the trades goes into profit nicely I change the trailing value to a smaller amount, so I get as much profit as possible if it reverses.

[muchgeneric]

The feature set I'd find useful:

1. NEW: Automatic SL setting for new orders (similar to how you can set it in the Depth of Market - DOM – panel) in points.
2. EXISTING: Trailing stop-loss after a specific threshold.
3. EXISTING: Breakeven after a specific threshold.
4. NEW: Target Profit 1 (similar to the existing Breakeven setting) after a specific threshold.
5. NEW: Target Profit 2 (similar to the existing Breakeven setting) after a specific threshold.

[AfroButterfly]

I like the proposed change, it seems like a much more controlled step/to trail stop function. Stop PROFIT where I can specify the amount of points in profit with the click of a button.

[Sebster7]

I think this is a good idea: it's similar to what one might do with manual trading. I have seen something similar to this before in an EA specialising in stop losses.