This code snippet demonstrates how to implement a breakeven strategy using multiple timeframes in ProBuilder. The strategy sets a stop loss to breakeven when a certain profit target is reached during a trade.

defparam cumulateorders=false
//declare the strategy on the 1 hour timeframe
timeframe(1 hour, updateonclose)
myrsi = rsi[14]
buycondition = myrsi crosses over 50
//orders management on the 1 minute timeframe
timeframe(1 minute, default)
//create an order at market if the RSI has crosses the level 50 on the 1 hour timeframe
if buycondition then
   buy 10 contract at market
   //if not order on market, reset the breakeven status
   set stop loss 0
endif
//check if the current order has made 15 points of profit
if longonmarket and close-tradeprice>=15*pointsize then
   set stop breakeven
endif

The code snippet above is structured to manage trades using two different timeframes: one hour for signal generation and one minute for order management. Here’s a step-by-step explanation:

• Defining Order Accumulation: defparam cumulateorders=false ensures that each order is treated independently without accumulation.
• Setting the Primary Timeframe: timeframe(1 hour, updateonclose) sets the strategy to operate on a one-hour timeframe, updating at the close of each candle.
• RSI Calculation: myrsi = rsi[14] calculates the 14-period Relative Strength Index (RSI), which is used to generate buy signals.
• Buy Condition: buycondition = myrsi crosses over 50 defines the condition to enter a trade, which triggers when the RSI crosses above 50.
• Switching to Management Timeframe: timeframe(1 minute, default) switches the script to a one-minute timeframe for managing orders.
• Order Execution: If the buy condition is met, buy 10 contract at market executes a market order for 10 contracts.
• Initial Stop Loss: set stop loss 0 initially sets the stop loss to zero, effectively not having a stop loss until modified.
• Setting Breakeven: The condition if longonmarket and close-tradeprice>=15*pointsize then set stop breakeven checks if the trade is in profit by at least 15 points. If true, it adjusts the stop loss to the breakeven point.

This example illustrates how to use multiple timeframes to manage trades more dynamically, particularly useful in fast-moving markets.