Add more than one level to the Breakeven code

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  • #192449 Report

    Hi everyone..  hope I formatted this correctly ?

    I use the breakeven code a lot in my systems,  however I find myself requiring an additonal levels in one of my systems as the breakeven level Vs the Profit level are very wide..

    As below..  the points difference is 850 ..   to optimise the system further I would like to be able to add another breakeven (or stop move) when the profit gets to 600 points (i.e. after the first breakeven has executed at startbreakeven =150)..   many trades reach 600+ points but end up reverting to the 50 point stop..  which is costly..

    I dont want to use a stepped trailing stop as its not flexible enough.

    #192450 Report

    Replace lines 13-22 with these ones (not tested):

    it will lock an additional 300 pips after a 600-pip temp gain.

     

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    #192451 Report
    JS

    Maybe you can use the Standard Deviation:

    BreakEvenLevel = TradePrice(1) + Std[n](Close) or BreakEvenLevel = TradePrice(1) + 2 * Std[n](Close)

    When the price is going down the Standard Deviation (BreakEvenLevel) will rise…

    1 user thanked author for this post.
    #192464 Report

    Ciao Roberto,

    It Works really well on backtest.. thankyou so much..

    1 user thanked author for this post.
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