Virtual Profit Trailing Stops Based on Position Size

Summary

The document describes an expert advisor that tracks open-order profit and applies a virtual trailing stop. The stop level is calculated from a per-minimum-lot profit allowance, scaled according to the order’s lot size. For example, the stated settings leave a virtual stop below current profit by an amount proportional to the position size. A separate per-minimum-lot take-profit threshold can trigger immediate closure once profit exceeds its setting.

The advisor checks order profits on a timer, stores tracking data in arrays, and applies configured slippage when closing an order. The proposed benefit is keeping stop and take-profit levels off the broker’s visible order book, where the author says displayed levels may affect spreads at some brokers. No test results or performance evidence are supplied. The author notes that the tool was newly created and still being tested on a live account, so reliability and effectiveness are not established.

Key ideas

• The advisor tracks open-order profit and calculates a virtual stop from a per-lot allowance.
• The stop allowance scales with order size, while a separate threshold can close an order for profit.
• A timer periodically checks positions and the system records their profit data.
• Closing orders uses a configurable slippage assumption.
• The document offers no measured results and says live-account testing was ongoing.

Tags

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