Stops in relation to previous candles/bars

Dymjohn · 2016-06-20T10:47:43+00:00

Is it possible to set a moving stop at the level of say low of candle three candles ago less 2 points. e.g. entry price 6500, low of three candles ago 6420 so stop 6418. on next bar price 6490 low of 3 bars ago 6645 so stop 6643?

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06/20/2016 at 11:47 AM #9585 quote

Dymjohn
Participant

Senior

Is it possible to set a moving stop at the level of say low of candle three candles ago less 2 points.

e.g. entry price 6500, low of three candles ago 6420 so stop 6418.

on next bar price 6490 low of 3 bars ago 6645 so stop 6643?

06/20/2016 at 12:56 PM #9589 quote
Nicolas
Keymaster

Legend
Yes, you can code it this way:
```
SELL AT Low[3]-2*pipsize STOP
```
(for a long position).
06/20/2016 at 5:40 PM #9610 quote

Dymjohn
Participant

Senior

Hi Thanks for the information. I’d worked something similar out.

Firstly, I’d put the following

BuyPrice = High[1]+2*Pipsize

then the instruction to buy:

BUY 1 SHARES AT BuyPrice STOP

However, I don’t think it works as I’ve been unable to establish how the tester sets the buy price. I have concerns about the tester as I thought reducing the trailing stop would reduce my profits in test mode but they increase e.g. trailing stop on DAX (a volatile market) reducing trail from 10 to 7 increased profit. Even 10 in my view will lead to many stop outs. Is my scepticism unfounded?

06/20/2016 at 7:49 PM #9616 quote

Nicolas
Keymaster

Legend

What you have coded don’t act as a stoploss, but as a pending buy stop order instead, above the current price. My code refer to a sell stop order to sell the current long position.

06/21/2016 at 8:03 AM #9622 quote

Dymjohn
Participant

Senior

Thanks Nicolas,

I think I confused myself trying to solve both my entry point and stop loss. Have you any thoughts about the tester and the apparent anomaly of reducing a tight stop and improving profitability of the strategy?

06/21/2016 at 9:18 AM #9624 quote

Nicolas
Keymaster

Legend

The profitability of which strategy? 🙂

04/12/2017 at 4:46 PM #31870 quote
Menghan
Participant

Junior
```
"SELL" AT Low[3]-2*pipsize STOP

i want to know how to do "sell" become "set STOP LOSS"or"set target profit"

sorry，nicolas my english not well.
```
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Stops in relation to previous candles/bars

ProOrder: Automated Strategies & Backtesting

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This topic contains 6 replies,
has 3 voices, and was last updated by Menghan
9 years, 5 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	06/20/2016
Status:	Active
Attachments:	No files