Moving Stop Loss to Breakeven by Profit Threshold

Summary

This document explains a trade-management expert advisor that moves a position’s stop loss to a specified breakeven level after the position reaches a configured profit threshold. A separate distance setting determines where the stop is placed relative to the opening price; the example describes an offset for a short trade. The advisor also can play a sound when it makes the stop adjustment.

Management is limited to positions in the currency pair shown on the chart where the advisor is attached. A magic-number setting can restrict which orders it manages, while a zero value applies it to all positions for that symbol. The page explains configuration options rather than presenting backtest results or evidence that breakeven adjustments improve outcomes. Its practical behavior therefore depends on the chosen thresholds, distance, broker execution, and which positions are included.

Key ideas

• The advisor moves a stop loss after a position reaches a configured profit level.
• A distance parameter sets the stop’s placement relative to the entry price.
• It manages only positions for the symbol on the chart where it is attached.
• A magic number can filter managed orders, with zero covering all positions for that symbol.
• The document gives configuration guidance but no performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.