Trailing Stop – Client Script

Free

Developed By: h.abukrayem

In stock

A SL (Stop Loss) order set at a certain distance below the mark price for a long position, and set above market price for a short position. The trailing stop price moves accordingly (preset distance) as the market price fluctuates.

(Downloads - 2011)

SKU: 276 Categories: ,

Works only on VertexFX 10.2 and above.

A SL (Stop Loss) order set at a certain distance below the mark price for a long position, and set above market price for a short position. The trailing stop price moves accordingly (preset distance) as the market price fluctuates.

The trailing stop tool is used to maximize profits and minimize losses. An example of using a trailing stop is as follows:

Entering a long position on GBP/USD at 1.6400 with a 20 point trailing stop which will be placed at 1.6380. If the price was to rise to 1.6440, the trailing stop would move up to 1.6420.

If the price continued to rise further to 1.6480 the trailing stop would move to 1.6460. If the price was then to move back down to 1.6470, the trailing stop would not move and stay at 1.6460. If the price was to continue moving down and hit the trailing stop – the trade would be exited with 60 pips profit.

The opposite will happen for short positions.

Usage

  • Download the attachment.
  • Copy it to your company VertexFX  Local VTL Files folder i.e. C:Program FilesCompany Namevtl10Local VTL Files
  • Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.

Additional information

Plugin-Type

Client VTL – Expert Advisor

Compatibility

Main Menu