Implementing a Short Trading Strategy with Multiple Conditions in ProBuilder

15 Nov 2017
0 comment
0 attachment

This code snippet demonstrates how to implement a short trading strategy for EUR/USD on a 15-minute chart using multiple technical indicators in ProBuilder. The strategy includes conditions for entry and dynamic exit based on market movements.

DEFPARAM CumulateOrders = False
DEFPARAM Preloadbars = 6000
N = 1 //MINI LOT $1
Cv1 = (close < Average[100]) and (Average[50] < Average[50](close[1]))
Cv2 = RSI[14](close) < 28
Cv3 = STD[10](close) >= 10.93 * pipsize
Cv4 = close <= BollingerDown[13](close[2])
indicator1 = ExponentialAverage[5000](close)
c1 = (close > indicator1)
OKSHORT = cv1 and cv2 and cv3 and Cv4 and c1
IF OKSHORT then
    Sellshort n CONTRACT at market
endif
startBreakeven = 9
PointsToKeep = 1
IF SHORTONMARKET AND (tradeprice(1) - close) >= (startBreakeven * pipsize) THEN
    breakevenLevel = tradeprice(1) + (PointsToKeep * pipsize)
    IF breakevenLevel > 0 THEN
        EXITSHORT AT breakevenLevel STOP
    ENDIF
ENDIF
SET STOP pLOSS 48
SET TARGET ppROFIT 12

Explanation of the Code:

  • DEFPARAM: Sets parameters for the trading system. CumulateOrders is set to False to prevent accumulation of orders, and Preloadbars specifies the number of bars to preload for calculation.
  • Conditions for Short Entry (Cv1 to Cv4 and c1): Multiple conditions using moving averages, RSI, standard deviation, and Bollinger Bands to determine the right conditions for entering a short position.
  • OKSHORT: A boolean variable that combines all conditions. If all conditions are true, a short position is initiated.
  • Sellshort: Executes a short sell order if the conditions specified in OKSHORT are met.
  • Dynamic Exit Strategy: Includes a breakeven mechanism where the position is exited at a breakeven level plus a small buffer (PointsToKeep) once the trade has moved in favor by a specified number of pips (startBreakeven).
  • Stop Loss and Take Profit: Sets a stop loss and take profit level to manage risk and secure profits.

This snippet is a practical example of combining various technical indicators to create a comprehensive trading strategy in ProBuilder, focusing on short positions with dynamic exit strategies.

Related Post

Check out this related content for more information:

https://www.prorealcode.com/topic/short-eur-usd-m15-pac-man-strategy/#post-69698

Visit Link
What is a Snippet? A snippet is a small, reusable chunk of code designed to solve specific tasks quickly. Think of it as a shortcut that helps you achieve your coding goals without reinventing the wheel. How to Use: Simply copy the snippet and paste it into your project where needed. Don't forget to tweak it to fit your context. Snippets are not just time-savers; they're also learning tools to help you become a more efficient coder.
Nicolas Legend
I created ProRealCode because I believe in the power of shared knowledge. I spend my time coding new tools and helping members solve complex problems. If you are stuck on a code or need a fresh perspective on a strategy, I am always willing to help. Welcome to the community!
Author’s Profile

Comments

Search Snippets

Showing some results...
Sorry, no result found!

Snippets Categories

global
35
indicator
135
strategy
171

Recent Snippets

A multi indicator Dashboard for ProRealTime
indicator
This snippet creates a compact on-chart dashboard that aggregates multiple indicator states into a single, readable [...]
How to Track Up/Down Cumulative Volume Inside Each Candle (Tick Volume Delta)
indicator
This snippet separates the real-time, intra-candle volume into up-volume and down-volume based on whether the last [...]
How to Create a Simple MTF Trend Dashboard with EMA and SMA
indicator
This indicator builds a compact multi-timeframe (MTF) dashboard that shows whether price is trading above or below a [...]
How to Display Per-Bar Volume Accumulation in Real Time (Intrabar Updates)
global
This snippet tracks and displays the current bar’s accumulated volume while the bar is still forming, instead of only [...]
Ticks Counter: Count Tick Updates Per Bar on Tick or Time Charts
global
This snippet counts how many tick updates have occurred for the current bar by incrementing a per-bar counter on each [...]
Logo Logo
Loading...