Dynamic Trailing Stop

[Darekl]

Hello,

I saw a video today where someone was describing a Dynamic Trailing Stop and thought it was an interesting concept. Honestly, I don't even know where to get started to see if this is even possible wit fxdreema.

Per the example, the premise is based on having the Trailing stop move with the price and change based on the same Risk to Reward. As the price continues to move towards the Take Profit, it would tighten the stops and targets.

Could someone tell me if this is possible and point me in the right direction? I'd greatly appreciate it.

Thanks.

[jstap]

@darekl In HERE is how I would do it, I've not tested but done similar things before, this is for buys only, you my need to add conditions like SL level is below new level, may want to add a condition like new level is above existing SL.

[Darekl]

@jstap Thanks for your idea. I like it, but it's a bit different than I anticipated. I think what's confusing about the example that I showed is that it looks like it's 5 different candles and that's not the case. It could all happen within the same candle if the price moves enough in the right direction. So, it has to be more based on price movement rather than candles.

[jstap]

@darekl Then you need a standard trail to just follow behind price, or use pink blocks to move stops when required, the principle is the same you just need to decide what causes the stop to move and where it moves the stop to.