Move SL to BE once 1:1 Risk Reward

Hi,

 

I am struggling to set the action for my stop to move to break-even once price has run in my favour for a 1:1 risk reward, in other words, once price goes the same distance as the difference between price entry and stop loss, only then move to break even. Find attached what i’ve tried… 

 

NOTE:

 

*Entry_Bar_Range_Look_Back and Entry_Bar_Range_BE are 2 variables I have created with values 1, just for clarification…

 

So, my formula is: BarRange (1) * 1 …  which should mean that if the bar range that provide the entry is 10 pips, i will move to BE after 10 pips…

 

However, it looks like the price is moving to BE based on the amount of pips from the most recent range bar created in the chart…

 

Can you please provide the simplest way to get what I need?

 

Thanks!

 

 

 

Hello,

 

so you basically use the same amount of pips for stop-loss and B/E move trigger?

 

You can calculate stop-loss size in pips separately and set the value for stop-loss pips & move to B/E pips. This will move SL to BE having RRR = 1:1 (SL vs MtBE)

Can you please send me a template in sqw format with the example? I ve tried it but doesn’t seem to work….

Hello,

 

sure, I will prepare the example and post

The EA move SL (X pips) to BE after open profit of X pips is reached. See file attached

Thanks so much!

 

I appreciate all your help Tomas.

 

I am loving EA Wizard.