Virtual Stoploss Virtual Takeprofit Virtual TrailingStop

Description

The Expert Advisor “Scalper’s Dream” (also known as VirtualSL&TP) was developed in response to a request from a participant on a trading forum.

This custom EA was designed to meet the specific needs of traders looking for a tool that offers virtual Stop Loss and Take Profit, providing added flexibility and precision in scalping strategies.

Attention! A new version of the program is now available with additional functionality!

Introducing Exp – Assistant—a Free Trading Panel that offers virtual and real position tracking for enhanced trading management!

The Expert Advisor sets Stop Loss and Take Profit levels that are invisible to the broker’s server.

These levels are placed as close as 1 pip from the current price.

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Key Features VirtualSL&TP:

• Virtual Stop Loss and Take Profit: The EA places virtual Stop Loss and Take Profit levels, which are displayed as lines on the chart but are hidden from the broker. This prevents the broker from manipulating your stops. However, note that in a fast-moving market, there is a higher chance of slippage when closing trades.
• Virtual Trailing Stop: The EA also includes a Virtual Trailing Stop feature, which operates at an invisible level for the broker. The trailing stop starts from as low as 1 pip.

Important Notes VirtualSL&TP:

• The EA works only when the terminal is running. Ensure your terminal is active for the EA to function.
• To enable the EA, make sure to check the “Allow EA to trade” option in the settings.
• Automate the system by clicking on the “Advisors” button at the top of the MetaTrader terminal.
• The system does not use a magic number, meaning it will manage trades for a single pair or all pairs you trade manually.
• The core principle is that Stop Loss and Take Profit levels are invisible to the broker.
• Flexible Stop Levels: You can set Take Profit and Stop Loss at any distance from the opening price, even 1 pip.
• Since the broker (DC) cannot see that positions are being closed by a robot, trades will appear as manual in the MetaTrader system.

Critical Considerations VirtualSL&TP:

1. Stop Loss and Spread:
   Stop loss cannot be set closer than the current spread level. When opening a position, the trade is placed at a distance from the price equal to the spread. If the stop loss is set too close, the position won’t close correctly.
2. Multiple Pairs:
   If your currency pairs have significantly different stop levels, it’s recommended to assign separate Expert Advisors for each pair to ensure proper functioning.

Detailed Explanation of Virtual Stoploss, Virtual Takeprofit, and Virtual TrailingStop:

In the realm of Forex trading, managing risk and optimizing profit is crucial.

The Virtual Stoploss, Virtual Takeprofit, and Virtual TrailingStop are advanced features provided by the Expert Advisor “Scalper’s Dream” to enhance trading strategies.

Virtual Stoploss

The Virtual Stoploss allows traders to set stop loss levels that are not visible to the broker’s server.

This means the broker cannot interfere with or manipulate these levels, providing an additional layer of security against unwanted stop outs.

Advantages:

• Enhanced Security: Prevents broker manipulation of stop loss levels.
• Precision: Allows setting stop loss as close as 1 pip to the current price for tight risk management.
• Flexibility: Traders can customize stop loss levels according to their trading strategy.

Disadvantages:

• Slippage Risk: In fast-moving markets, there is a higher chance of slippage when closing trades.
• Reliance on EA: The effectiveness depends on the EA being active and functioning correctly.

Example of Use:

When entering a trade, a trader sets a Virtual Stoploss of 10 pips below the entry price.

This stop loss is invisible to the broker, ensuring that the trader’s risk management is maintained without broker interference.

Virtual Takeprofit

The Virtual Takeprofit functions similarly to the Virtual Stoploss, allowing traders to set take profit levels that remain hidden from the broker.

This ensures that profit targets are met without any potential manipulation.

Advantages:

• Guaranteed Profit Targets: Ensures that take profit levels are executed as planned.
• Hidden from Broker: Prevents the broker from altering or interfering with take profit levels.
• Customizable: Traders can set multiple take profit levels based on their strategy.

Disadvantages:

• Slippage Risk: Similar to stop loss, fast market movements can cause slippage at take profit levels.
• Dependency on EA: The system relies on the EA being operational to manage take profit levels.

Example of Use:

A trader sets a Virtual Takeprofit of 20 pips above the entry price.

Once the price reaches this level, the EA automatically closes the trade, securing the intended profit without the broker’s knowledge.

Virtual TrailingStop

The Virtual TrailingStop is an advanced feature that dynamically adjusts the stop loss level as the trade becomes profitable.

Unlike traditional trailing stops, the Virtual TrailingStop remains hidden from the broker, providing seamless and secure adjustments.

Advantages:

• Dynamic Risk Management: Automatically adjusts stop loss to lock in profits as the market moves in favor.
• Hidden Operation: The broker cannot see or manipulate the trailing stop levels.
• Customization: Traders can set the trailing stop distance starting from as low as 1 pip.

Disadvantages:

• Slippage Risk: In volatile markets, trailing stops can still suffer from slippage.
• EA Dependence: Effectiveness relies on the EA running without interruptions.

Example of Use:

After entering a trade, a trader activates a Virtual TrailingStop of 5 pips.

As the price moves 5 pips in the trader’s favor, the stop loss is adjusted to secure profits, trailing the price movement without the broker’s awareness.

By utilizing these virtual features, traders gain enhanced control over their trades, ensuring that their risk management and profit-taking strategies are executed with precision

External Variables and Settings VirtualSL&TP

Name	Description
OrderToClose	Selection of controlled positions by type of trading operation. 1 – any, 2 – Buy, 3 – Sell.
MagicToClose	Selection of positions by the name of the trading instrument. If 1, then the Expert Advisor, installed on only one chart, will control all available open positions and all trading instruments.  If “0”, then the Expert Advisor will control the positions of only the instrument on the chart on which it is installed.  In this case, the Expert Advisor can be installed on several charts of different trading instruments (symbols).  You can also specify the name of a specific trading instrument, for example, “EURUSD”.  In this case, the Expert Advisor will only control the positions of the Eurodollar.  Moreover, it does not depend on the chart on which the Expert Advisor is installed.
SymbolToClose	true – enable, false – disable. Setting an emergency Stop Loss and Take Profit in case of a connection failure. This parameter is necessary in case of poor quality of connection with the server or possible power outages.  This parameter sets emergency Stop Loss and Take Profit for open positions, so that the DC knows less about the existence of the Expert Advisor – the levels are given in random order within the range:
Virtual_TakeProfit	The size of the virtual Take Profit in points.  If zero or less than zero, then the Take Profit price level will not be controlled.
Virtual_StopLoss	true – enable, false – disable. Setting an emergency Stop Loss and Take Profit in case of a connection failure. This parameter is necessary in case of poor quality of connection with the server or possible power outages.  This parameter sets emergency Stop Loss and Take Profit for open positions, so that the DC knows less about the existence of the Expert Advisor – the levels are given in random order within the range:
EMERGENCYLEVELSET	true – enable, false – disable. Setting an emergency Stop Loss and Take Profit in case of a connection failure. his parameter is necessary in case of poor quality of connection with the server or possible power outages.  This parameter sets emergency Stop Loss and Take Profit for open positions, so that the DC knows less about the existence of the Expert Advisor – the levels are given in random order within the range:
emergencyTPmin	Minimum stop level range for Take Profit
emergencyTPmax	Maximum stop level range for Take Profit
emergencySLmin	Minimum stop level range for Stop Loss
emergencySLmax	Maximum stop level range for Stop Loss
TrailingStop	Virtual Trailing Stop size in points
ProFitOrderOnly	The possibility for a virtual trailing stop to work only for positions with a positive profit (pips mode).
InfoVTSS	Display information stored in memory buffers to analyze the results.

Video About the New Assistant

Questions About VirtualSL&TP?

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