How to use Trailing Stop Loss with TradingViewTo Bot

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When sending TradingView alerts to MT4/5 you may need to use Trailing stops. TradingView to Anywhere sends your orders with Trailing stops using 3 parameters:

  1. Trailing Trigger (TT) - This is the number of pips/points after which trailing is activated.
  2. Trailing Distance (TD) - This is the distance between your SL and the market price in pips/points.
  3. Trailing Step (TS) - This is the amount of pips/points movement in the market after which your SL is adjusted.

Example: Buy EURUSD q=0.5 TT=500 TD=300 TS=150, buys 0.5 lots of EURUSD. Trailing is triggered after 50pips and SL is placed in such a way that it is 30pips away from the market price. As the market trends higher and higher, the SL will be adjusted after every 15pips movement in such a way that the SL is maintained 30pips away from the market price.

Important:

  • Be aware of the minimum allowed pips/points allowed by your broker for trailing.

  • Take note whether your broker uses pips or points. 1pip = 10points.

  • Do not restart your Meta Trader instance after placing the orders, otherwise trailing will be erased.

  • Trailing Enabled setting in the EA settings must be set to True.