3 Min EURUSD RSI

• 02/22/2018 at 9:04 PM #63580
  Barney

  A simple RSI code that works ok.

  However, is not completely satisfied with the stop.

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Conditions to enter long positions indicator1 = RSI[14](close) c1 = (indicator1 < 30) indicator2 = RSI[14](close) c2 = (indicator2 > 86) IF c1 THEN BUY 1 CONTRACT AT MARKET ENDIF IF c2 THEN sellshort 1 CONTRACT AT MARKET ENDIF // trailing stop function trailingstep = 6 //5 trailing step to move the "stoploss" after BreakEven startBreakeven = 2 //5 pips in gain to activate the breakeven function PointsToKeep = 2 //3 pips to keep in profit above/below entry price when the breakeven is activated // //reset the stoploss value IF NOT ONMARKET THEN newSL = 0 breakevenLevel = 0 ENDIF //****************************************************************************************************** // ----- BREAKEVEN code // //reset the breakevenLevel when no trade are on market // --- LONG side IF LONGONMARKET AND (close - tradeprice(1)) >= (startBreakeven * pipsize) AND breakevenlevel = 0 THEN breakevenLevel = tradeprice(1) + (PointsToKeep * pipsize) //calculate the breakevenLevel ENDIF // --- SHORT side IF SHORTONMARKET AND (tradeprice(1) - close) >= (startBreakeven * pipsize) AND breakevenlevel = 0 THEN breakevenLevel = tradeprice(1) + (PointsToKeep * pipsize) //calculate the breakevenLevel ENDIF //Set new Stop Loss IF breakevenLevel > 0 THEN newSL = BreakEvenLevel ENDIF //****************************************************************************************************** // ----- TRAILING STOP code // //manage long positions IF LONGONMARKET AND BreakEvenLevel THEN //next moves after BreakEven IF newSL > 0 AND ((close - newSL) >= (trailingstep * pipsize)) THEN newSL = newSL + (trailingstep * pipsize) ENDIF ENDIF //manage short positions IF SHORTONMARKET AND BreakEvenLevel THEN //next moves after BreakEven IF newSL > 0 AND ((newSL - close) >= (trailingstep * pipsize)) THEN newSL = newSL - (trailingstep * pipsize) ENDIF ENDIF //stop order to exit the positions IF newSL > 0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated     // Conditions to enter long positions indicator1 = RSI[14](close) c1 = (indicator1 < 30)   indicator2 = RSI[14](close) c2 = (indicator2 > 86)   IF c1 THEN BUY 1 CONTRACT AT MARKET ENDIF IF c2 THEN sellshort 1 CONTRACT AT MARKET ENDIF           //     trailing stop function trailingstep      = 6    //5    trailing step to move the "stoploss" after BreakEven startBreakeven    = 2     //5    pips in gain to activate the breakeven function PointsToKeep      = 2     //3    pips to keep in profit above/below entry price when the breakeven is activated // //reset the stoploss value IF NOT ONMARKET THEN newSL          = 0 breakevenLevel = 0 ENDIF //****************************************************************************************************** // ----- BREAKEVEN code // //reset the breakevenLevel when no trade are on market // --- LONG  side IF LONGONMARKET AND (close - tradeprice(1)) >= (startBreakeven * pipsize) AND breakevenlevel = 0 THEN breakevenLevel = tradeprice(1) + (PointsToKeep * pipsize)                         //calculate the breakevenLevel ENDIF // --- SHORT side IF SHORTONMARKET AND (tradeprice(1) - close) >= (startBreakeven * pipsize) AND breakevenlevel = 0 THEN breakevenLevel = tradeprice(1) + (PointsToKeep * pipsize)                         //calculate the breakevenLevel ENDIF //Set new Stop Loss IF breakevenLevel > 0 THEN newSL = BreakEvenLevel ENDIF //****************************************************************************************************** // ----- TRAILING STOP code // //manage long positions IF LONGONMARKET AND BreakEvenLevel THEN //next moves after BreakEven IF newSL > 0 AND ((close - newSL) >= (trailingstep * pipsize)) THEN newSL = newSL + (trailingstep * pipsize) ENDIF ENDIF //manage short positions IF SHORTONMARKET AND BreakEvenLevel THEN //next moves after BreakEven IF newSL > 0 AND ((newSL - close) >= (trailingstep * pipsize)) THEN newSL = newSL - (trailingstep * pipsize) ENDIF ENDIF //stop order to exit the positions IF newSL > 0 THEN SELL      AT newSL STOP EXITSHORT AT newSL STOP ENDIF

   

  

  Barney

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  02/22/2018 at 9:43 PM #63591
  robertogozzi

  Breakeven after 2 pips with 2 pips to keep dordn’t leave the strategy room to jigsaw a bit!
  I guess that trailingstep is rarely beneficial.

  

  robertogozzi

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