Expert Advisor Programming by Andrew R. Young

EXPERT ADVISOR PROGRAMMING
double PipsProfit = MarketInfo(argSymbol,MODE_BID) - OrderOpenPrice();
double MinProfit = MinimumProfit * PipPoint(argSymbol));
// Modify Stop
if(OrderMagicNumber() == argMagicNumber && OrderSymbol() == argSymbol
&& OrderType() == OP_BUY && CurrentStop < MaxStopLoss
&& PipsProfit >= MinProfit)
{
bool Trailed = OrderModify(OrderTicket(),OrderOpenPrice(),MaxStopLoss,
OrderTakeProfit(),0);
// Error Handling
if(Trailed == false)
{
ErrorCode = GetLastError();
string ErrDesc = ErrorDescription(ErrorCode);
string ErrAlert = StringConcatenate("Buy Trailing Stop - Error ",
ErrorCode,": ",ErrDesc);
Alert(ErrAlert);
string ErrLog = StringConcatenate("Bid: ",
MarketInfo(argSymbol,MODE_BID), " Ticket: ",CloseTicket,
" Stop: ",OrderStopLoss()," Trail: ",MaxStopLoss);
Print(ErrLog);
}
}
}
}
We calculate the current order profit in pips by subtracting OrderOpenPrice() from the current Bid
price, and storing that in the variable PipsProfit. We compare that to our minimum profit setting,
which is multiplied by PipPoint() and stored in the variable MinProfit.
If the current profit in pips (PipsProfit) is greater than or equal to our minimum profit
(MinProfit), and all of the other conditions are true, the stop will be modified.
The trailing stop with the minimum profit setting is much more flexible, so you'll probably want to use
this function in your expert advisor. See Appendix D for the complete sell trailing stop code.
Break Even Stop
You can also use this method to apply a break even stop adjustment to your orders. A break even
stop adjusts the stop loss to be equal to the order opening price, after a certain level of profit has
been reached. The break even stop is independent from your initial stop loss and trailing stop
functions.
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