Max profit and loss each day in a trading strategy

Resetting each day the daily target profit and maximum allowed loss.

This code snippet that can be added to any trading strategy.

// ---parameters 
MaxDailyProfit=1000 //Max daily profit allowed (in money)
MaxDailyLoss=1000 //Max daily loss allowed  (in money)

// first time we launch the code, the trading is allowed
once TradeAllowed=1

// reset the current state of the strateygprofit each new day
If intradaybarindex=0 then
 MyProfit=STRATEGYPROFIT
 TradeAllowed=1
endif

// test if the strategyprofit of the day is currently above the daily profit allowed of below the daily loss allowed
If StrategyProfit>=MyProfit+MaxDailyProfit or Strategyprofit<=MyProfit-MaxDailyLoss then
 TradeAllowed=0
endif

// initiate a new BUY order
if TradeAllowed=1 and buyconditions then
 buy 1 lot at market
endif

 

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