The basic rule of trader – let profit to grow, cut off losses! This article considers one of the basic techniques, allowing to follow this rule – moving the protective stop level (Stop loss level) after increasing position profit, i.e. – Trailing Stop level. You’ll find the step by step procedure to create a class for trailing stop on SAR and NRTR indicators. Everyone will be able to insert this trailing stop into their experts or use it independently to control positions in their accounts.

Introduction

Before we begin with the article subject, I think it’s a good idea to dot the i’s and cross the t’s. Once again we define the terms “position” and “order”:

• Position – is a trade obligation, i.e. number of bought or sold contracts for a financial instrument. There can be only one position per one instrument.
• Order – is an instruction for broker to buy or sell a financial instrument. There are several types of orders: market and pending, as well as stop orders (Stop Loss and Take Profit).

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