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EA manages trades with ATR

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Old 01-08-2009, 19:11
Level 1 Lasers Member
Join Date: Feb 2009
Posts: 15
Default EA manages trades with ATR

I have an old ea from Taylor Stockwell (MTP 1.7) that I modified (or tried to) to automatically split and manage your trades. Here is how it's supposed to work:

You place a trade manually up or down.
The EA gets the Daily ATR . Sets the SL and first TP to 1/2 ATR.
Once price reaches 1/2 ATR - 1/3 of the order takes profit. SL moved to 1/2 ATR.
Once price reaches ATR - one more 1/3 order is take profit.
Then the last 1/3 order can run to a TP of 3x ATR OR run with trailer of 1/2 ATR depending on what you set.
That's how it's should work but what it actually does is take all three 1/3 orders and take profit at about 1/2 ATR.

I am not much of a programmer (but then again, I'm not much of a trader either)
But anyway, I think this might be a useful tool to add to your ea box.

I hope someone can see what I did wrong and make it work.

thanks much
Attached Files
File Type: mq4 DIZLC.mq4 (10.2 KB)

Last edited by bill; 01-08-2009 at 19:14. Reason: error
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Old 02-08-2009, 11:24
Level 1 Lasers Member
Join Date: Mar 2009
Location: Saint Paul, Minnesota
Posts: 2

I too use the ATR for stop losses and take profit, in much the same way as your EA. I think it would be great to have an EA that could do it automatically! I hope someone can figure this out for you (I can't program either), because I would like to try it.
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