New Concept: Trailing Take Profit – EA MetaTrader 5
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On contrast with Trailing Stop which a stop loss trails price until the price hits the stop loss and the position gets closed in profit, introducing Trailing Take Profit which take profit trails price when a position is in loss and ultimately the position gets closed with a loss.
For example, If a position is in loss and current price hits TrailingTPStart (e.g. TailingTPStart is 500 points, when price reach 500 points from open price and the position is in -500 points in loss), Take profit starts to trail price and TrailingTPDistance is the max distance of trailing take profit and price.
I do not know it will help you or not, but this concept can be used in some EA without stop loss to lower loss in some points.
Run the TrailingTakeProfit EA.
If TrailingTP_Mode is true, The EA will run.
Put the symbol name like, GBPUSD in the EA.
Set TrailingTPStart . Which is the points from current price that take profit starts to run and trail the price when a position is in loss.
Set TrailingTPDistance. Which is the maximum distance in points between take profit and current price.
