Absolute Stop Loss

• 08/17/2017 at 1:42 AM #43302
  mikenew

  It looks to me like all the stop loss functions are relative to TradePrice.

  Is there a way or a code pattern that I can set an absolute stop loss?

  Ideally something like

  SET STOP LOSS sma(35)

  or

  SET STOP LOSS 18364.4

   

  I’ve tried     SET STOP LOSS ( TradePrice – sma(35) )

   

  but doesn’t work when the stop level is in profit.

   

   

  

  mikenew

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  08/17/2017 at 9:27 AM #43325
  Despair

  sl=sma(35) if longonmarket then sell at sl stop elsif shortonmarket then exitshort at sl stop endif

  1 2 3 4 5 6

  sl=sma(35) if longonmarket then   sell at sl stop elsif shortonmarket then   exitshort at sl stop endif

  Here you go.

  

  Despair

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  08/17/2017 at 10:09 AM #43329
  Nicolas

  A complete tutorial to create a stoploss with indicators

  

  Nicolas

  Keymaster

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