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Trailing stop loss – Close

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9th of march 2020

Close modules take orders as input and close orders when a condition, based on the settings, are met.

The Trailing stop loss – Close module, will wait for the price to go up to the level of where the trail is and then close the order(group). This is designed to be used in such a way that closing an order at a low is prevented and the close is softened by a temporary correction from a low.

Settings

  • TrailingStopLossThresholdValue: this is the amount of profit (in pips, for example 20) an order has to reach for the module to start trailing. Before this value is reached, the module will have zero effect.
  • TrailingStopLossStartValue: the profit value (in pips) where the trailing starts. If this is set at 0, the order will try to break-even.
  • TrailingStopLossStepRatioValue: the amount the trail will go down when the loss increases. Let’s assume you put the setting to 1. If the loss increases 1 pip below the threshold value, the trail will move (in this example) from 0 to -1. After another pip of loss, from -1 to -2, etc.. The order will, under normal conditions, now best case create 2 pips of loss. If the setting is set to 2, it will go down 2 pips for every pip of additional loss, instead of 1.