Hello Nicolas,

Thank you very much for the super fast reply. That’s amazing.

How do I code the Trailing Stop Loss in point 3.)

Trailing Stop Loss: When Entry – 2x AverageTrueRange(14) is reached, move Stop Loss to Entry – 1pip.  (meaning 1 pip in profit)

Also, I always try to understand the code so I can learn something. As I don’t fully understand the conditions you created with barindex and barorder,

I tried to find the meaning of barindex and found in an older post the following definition:  Bar Index is the number of bars the System has been running

So does the condition   barindex–barorder>=1    make the system wait until the end of the bar?

Why do we add   barorder>0    (line 29)   and  then barorder=0  (in line 31)?

Thanks so much.

Sascha

Hi Nicolas,

Thanks for your comment.

Meanwhile I’ve been reading in various posts about Stop Losses and it’s surprising how difficult it seems to implement in PRT code what seems like a simple one step stop loss adjustment.

So far I haven’t found any solution for how to code my Stop loss change to breakeven + 1 pip profit.

Stop Loss: When Entry – 2x AverageTrueRange(14) is reached, move Stop Loss to Entry – 1pip.  (meaning 1 pip in profit)

The question is how do you capture or code the moment of entry and then tell PRT to move the stop loss in the desired way?

Any feedback is highly appreciated.

Thank you.

Sascha

Hi Nicolas,

Thank you for your reply and sending me the link to the code.

I looked through it and tried to implement it.

Attached I send you how it looks like in my code. I am not sure if I adjusted it correctly in terms of saving the value when I launch an order, as you said.

I would appreciate if you could take a quick look at it.

Is there a difference between  Averagetruerange[14]  and Averagetrurange[14](close)?

By the way, I created the code for the long side as well. I assume I can just put it beneath the code for the short trade?

Thanks again.

Sascha

// Definition of code parameters
DEFPARAM CumulateOrders = False // Cumulating positions deactivated
// Cancel all pending orders and close all positions at the "FLATAFTER" time
DEFPARAM FLATAFTER = 200000

// Prevents the system from placing new orders to enter the market or increase position size after the specified time
noEntryBeforeTime = 060000
timeEnterBefore = time >= noEntryBeforeTime


// Prevents the system from placing new orders to enter the market or increase position size after the specified time
noEntryAfterTime = 235900
timeEnterAfter = time < noEntryAfterTime

// Prevents the system from placing new orders on specified days of the week
daysForbiddenEntry = OpenDayOfWeek = 6 OR OpenDayOfWeek = 0

// CONDITIONS TO ENTER SHORT POSITIONS
ignored, ignored, indicator1 = CALL "Momentum_F"
c1 = (indicator1 = 1)
c2 = (indicator1[1] = 1)

ignored, indicator2 = CALL "PowerX 2"
c3 = (indicator2 = -3)
c4 = (indicator2[1] > -3)

SMA50 = Average[50](close)
c5 = (close < SMA50)

c6 = ADX < 40

IF (c1 AND c2 AND c3 AND c4 AND c5 AND c6) AND timeEnterBefore AND timeEnterAfter AND not daysForbiddenEntry THEN
SELLSHORT 1 SHARES AT low-1*pointsize stop
barorder=barindex
ATR = Averagetruerange[14]

// Stops and targets
SET STOP LOSS 2*atr
SET TARGET PROFIT 2.5*atr

ENDIF


//if not order on market, reset the breakeven status
if not onmarket then
breakeven=0
endif
 
//check if the current order has made 2*ATR of signal day
if shortonmarket and tradeprice-close >=2*ATR then
breakeven=1
endif
 
//put stoploss at open price - 3 pip
if breakeven=1 then
buy at tradeprice-3*pointsize stop
endif


// Conditions to exit short positions
ignored, indicator3 = CALL "PowerX 2"
c6 = (indicator3 > -3)

c7 = (close > SMA50)

IF c6 OR c7 and (barindex-barorder>=1 and barorder>0) THEN
EXITSHORT AT MARKET
barorder=0
ENDIF


// CONDITIONS TO ENTER LONG POSITIONS
indicator4, ignored, ignored = CALL "Momentum_F"
d1 = (indicator4 = 1)
d2 = (indicator4[1] = 1)

indicator5, ignored = CALL "PowerX 2"
d3 = (indicator5 = 3)
d4 = (indicator5[1] < 3)

d5 = (close > SMA50)

d6 = ADX < 40

IF (d1 AND d2 AND d3 AND d4 AND d5 AND d6) AND timeEnterAfter AND not daysForbiddenEntry THEN
BUY 1 SHARES AT high+1*pointsize stop
barorder=barindex
ATR = Averagetruerange[14]

// Stops and targets
SET STOP LOSS 2*atr
SET TARGET PROFIT 2.5*atr

ENDIF


//if not order on market, reset the breakeven status
if not onmarket then
breakeven=0
endif
 
//check if the current order has made 2*ATR of signal day
if longonmarket and close-tradeprice >=2*ATR then
breakeven=1
endif
 
//put stoploss at open price + 3 pip
if breakeven=1 then
sell at tradeprice+3*pointsize stop
endif


// Conditions to exit long positions
indicator8, ignored  = CALL "PowerX 2"
d6 = (indicator8 < 3)

d7 = (close < SMA50)

IF d6 OR d7 and (barindex-barorder>=1 and barorder>0) THEN
SELL AT MARKET
barorder=0
ENDIF

Hi Nicolas,

A quick update:

I just changed   (barindex–barorder>=1 and barorder>0)  to   (barindex–barorder>=1 and barorder>=0).

All I changed was   barorder>=0.

Now the trade was exited after the first bar, but I am not sure if that changes the original purpose of this condition?

Hi Nicolas,

I’ll try to understand your comment. Maybe I’ll find another article that helps me understand it. First I need to fully understand the condition.

In a recent comment regarding   (barindex–barorder>=1 and barorder>0)   that you added to my code, you said:

”   Because we want to make sure at least 1 bar is elapsed since the opening of the order and that we are trying to close the current running order and not an “old one”.  ”

So,  barindex–barorder>=1  makes sure at least 1 bar is elapsed?

And   barorder>0   would close the current running order and not an “old one”?  I guess I am struggling to understand this part. What if I set it to barorder>=0,  would it still close the current running order? In my example mentioned, changing it to barorder>=0 closed the trade after the first candle in the trade, and leaving it at barorder>0 the trade was not exited. But I don’t understand why because I don’t understand the condition.

In the code your wrote   barorder = barindex, so can barorder ever be 0?

I would say no as barindex is the current bar loaded buy a trading system, so I would think at the time of a trading signal the barindex is not 0.

I guess you can see that I am confused. I’m sorry.

Thanks Vonasi!

In the meantime I had searched for the meaning of the GRAPH function and I was able to draw the variable.

I think my problem is that Nicolas gave me a little piece of code and I don’t fully understand it.

When I use the GRAPH function to draw   Barorder, then I see that this variable only jumps from 0 to the value of Barindex in the moment when my conditions are met and with the next candle it drops back to 0 and stays there all the time until next signal.

This means that the piece of code from Nicolas    Barorder>0  can never be true for my exits as it is always zero accept on the signal day. Consequently my exit conditions should never work.

However, they do work. That’s the confusing part. When I look at trade examples, trades are exited with my conditions (for example when condition d6 was met). Therefore I don’t understand it.

How can that be?

// Conditions to exit short positions
ignored, indicator3 = CALL "PowerX 2"
c6 = (indicator3 > -3)

c7 = (close > SMA50)

IF c6 OR c7 and (barindex-barorder>=1 and barorder>0) THEN
EXITSHORT AT MARKET
barorder=0
ENDIF