I am backtesting a trading strategy and I am trying to use ApplyStop to scale out of a position. To complicate things it is Forex so the pip values of the currency pairs varies widely. In most cases, price quotes have 5 significant digits and 1 pip is a change of 1 in the 5th significant digit.
What I want to do is place an initial stop 15 pips from entry. When profit is 20 pips, I want to close 1/3 of the position and move the stop to break even on the remaining 2/3. Next, I want a volitility trailing stop, 2*ATR(10) that never moves backwards. When profit is 40 pips, I want to close 1/2 of the remaning position. The final 1/3 of original position is closed when the stop gets hit or when a reverse signal is triggered. Bill
