Advanced Trailing stop loss usage

[Shanez]

How do I setup a trailing stop loss to meet the following conditions: 
1. Let's call Risk "R" the value between entry level and stop loss level.
2. I want to setup a trailing stop loss.
3. The trailing stop loss should only move when price level moves in my favour 1.1 x R.
4. When it moves it should move to 1.1 x R above entry level. 
5. All this should be achieved without the distance between the current price level and the new stop loss level being greater than R (should be as close to new level as possible). 

I look forward to hearing back from you. 

Kind regards, 
Shanez

[AndaIG]

Hi @Shanez

Thanks for the query. 

Our trailing stops require two parameters, stop distance and trailing step. 

Stop distance: How far the stop is set from the current market price. (Represented by R in your example)

Trailing Step: The number of points the market must move in your favour before your stop moves to the next level. 

Your stop will trail the market to maintain your stop distance each time the market has moved in your favour by the amount of points specified in your step. Please see the following link for more details:

https://www.ig.com/uk/glossary-trading-terms/trailing-stops-definition

All the best, 

Anda