I am using FXCM Trade Station Charts ( Marketscope - version 01.10 .0412.11.) and this project is intended to be compatible with the Langue used by this Platform.
The following is true for both Long and Short Trades.
1- Initially the stop loss placement at any given point ( VARIABLE) on the trade.
2-First Trail of the stop loss when Price moves ( VARIABLE) from the Breakeven (Entry) Point to predetemine ticks( VARIABLE) from the Breakeven (Entry Point) i.e If price moves 30 ticks(VARIABLE) in favour from the entry point, Then the stop moves to new place 10 ticks( VARIABLE) from the entry point, till the following Threshold is met.
3-second trail of the stop loss active when price moves again (VARIABLE) from the Breakeven ( Entry) point to predetermine ticks( VARIABLE) from the Breakeven (Entry Point). I.e if price again moves 50 ticks( VARAIBLE) from the entry point, Then the stop moves to new place 20 ticks( VARIABLE) from the entry point , till the last following threshold is met.
4- The third trail of the stop loss active when price moves again ( VARIABLE) from the Breakeven( Entry point) to predetermine ticks( VARIABLE) from the Breakeven ( Entry point) AND repeat This action after every ( VARAIBLE) ticks from the Breakeven( Entry Point) i.e if the Price moves another 50 ticks ( VARIABLE) then the stop moves to new place 50 ticks ( VARIABLE) from the entry point and REPEAT this every 50 ticks ( VARIABLE) from the entry point.
In Brief, On the above example the following should happen
1- For Euro /Usd the entry point is 1.4300 and our stop loss is at 1.4000, 300 ticks ( VARIABLE) away from the Market .
2- If the price moves up to 1.4330 ( 30 ticks from the breakeven:VARIABLE), The stop loss should be placed at 1.4310 ( 10 ticks from the breakeven:VARIABLE) ,Till the following
3- If the price moves up again to 1.4350 ( 50 ticks from the breakeven:VARIABLE), Then the stop should move to 1.4320 ( 20 ticks from the breakeven : VARIABLE) Till the following
4- If the price moves up to 1.4400 ( 100 ticks from the breakeven:VARIABLE),Then the stop should be place at 1.4350 (50 ticks from the breakeven;VARIABLE) AND REPEAT THIS AFTER EVERY 50 TICKS (VARIABLE) FROM THE BREAKEVEN POINT.