Hi I’d like to add Orders Near Take Profit/Short Sell Near Stop Loss levels.
So far I have this which is to initiate another trade when the price reaches 90% of it’s take profit level. How would I make this so the new order has a different stop loss/take profit level to the orders in the rest of the code?
So I want a separate stop loss, trailing step and take profit just this part of the code below. How do I do that?
//within reach of the take profit
IF Close-TRADEPRICE(1)>(TKPROFIT*0.9) AND CountOfPosition < 3 AND LONGONMARKET THEN
BUY 1 PERPOINT AT MARKET
ENDIF
IF TRADEPRICE(1)-Close>(TKPROFIT*0.9) AND CountOfPosition < 3 AND SHORTONMARKET THEN
SELLSHORT 1 PERPOINT AT MARKET
ENDIF
Here is the whole thing
DEFPARAM CumulateOrders = True // Cumulating positions deactivated
ATR = AverageTrueRange[186]
//take profit
SET TARGET pPROFIT TKPROFIT
IF NOT ONMARKET AND (PositionPerf(1) + PositionPerf(2) + PositionPerf(3) + PositionPerf(4)) < -100 OR STRATEGYPROFIT < -100 THEN
QUIT
ENDIF
//trailing stop function (make equal to absolute value when trailing stop and absolute value)
IF CountOfPosition < 2 AND ONMARKET AND PositionPerf(1) > 0 THEN
//trailing will start @trailinstart points profit
TRSTART = (ATR*0.50)*40
//trailing step to move the "stoploss"
TRSTEP = (ATR*0.50)*4
// Target profit = S*T
TKPROFIT = (ATR*0.50)*16
ENDIF
IF CountOfPosition < 2 AND ONMARKET AND PositionPerf(1) <= 0 THEN
//trailing will start @trailinstart points profit
TRSTART = (ATR*0.25)*40
//trailing step to move the "stoploss"
TRSTEP = (ATR*0.25)*4
// Target profit = S*T
TKPROFIT = (ATR*0.25)*16
ENDIF
//reset the stoploss value
IF NOT ONMARKET THEN
SPLOSS = 0
ENDIF
//manage long positions
IF LONGONMARKET THEN
//first move (breakeven)
IF SPLOSS = 0 AND close-TradePrice(1)>=TRSTART THEN
SPLOSS = TradePrice(1)+TRSTEP
ENDIF
//next moves
IF SPLOSS > 0 AND close-SPLOSS>TRSTEP THEN
SPLOSS = SPLOSS+TRSTEP
ENDIF
ENDIF
//manage short positions
IF SHORTONMARKET THEN
//first move (breakeven)
IF SPLOSS = 0 AND TradePrice(1)-close>=TRSTART THEN
SPLOSS = TradePrice(1)-TRSTEP
ENDIF
//next moves
IF SPLOSS> 0 AND SPLOSS-close>TRSTEP THEN
SPLOSS = SPLOSS-TRSTEP
ENDIF
ENDIF
//stop order to exit the positions
IF SPLOSS > 0 THEN
SELL AT SPLOSS STOP
EXITSHORT AT SPLOSS STOP
ENDIF
//put the first stoploss
IF ONMARKET AND SPLOSS = 0 THEN
SET STOP pTRAILING TRSTART
ENDIF
//within reach of the take profit
IF Close-TRADEPRICE(1)>(TKPROFIT*0.9) AND CountOfPosition < 3 AND LONGONMARKET THEN
BUY 1 PERPOINT AT MARKET
ENDIF
IF TRADEPRICE(1)-Close>(TKPROFIT*0.9) AND CountOfPosition < 3 AND SHORTONMARKET THEN
SELLSHORT 1 PERPOINT AT MARKET
ENDIF
So I want a separate stop loss, trailing step and take profit just this part of the code below. How do I do that?
That would mean a partial exit and we can’t do that currently in PRT due to IG not allowing us.
Hi Thanks. So just to make sure we are on the same page just wanted to clarify what I was asking and even if we are then I wanted to ask you the part at the end anyway.
So basically I got the idea from the article at this link https://www.prorealcode.com/documentation/tradeprice/ Here he adds a second order in the same direction as the the first trade when the first trade goes 10 points in his favour.
So I’m saying can I substitute out 10 point in my favour as a command and substitute in if the price reaches 90% of my take profit number?
So that’s the first part. Then I was saying if you can then can you set a different take profit level for the second order like for example when they are both buys.
Then even if you can’t set a different take profit level, stop loss etc, and even if I had to do it his way and order a second trade once it goes ten points in my favour, would the second trade automatically have the same take profit level of e.g. 16 combined or would they both have to hit 16 each. So 32 in total?
myMACD = MACD[12,26,9](close)
long = myMACD crosses over 0
exit = myMACD crosses under 0
//first order
IF NOT LongOnMarket AND long THEN
BUY 1 CONTRACTS AT MARKET
ENDIF
If LongOnMarket AND exit THEN
SELL AT MARKET
ENDIF
//let's add another order while price continue to get higher (more than 10 points) than the last order taken with a condition of 5 bars elapsed since then
IF BARINDEX-TRADEINDEX(1)>5 AND Close-TRADEPRICE(1)>10 AND LongOnMarket THEN
BUY 1 CONTRACTS AT MARKET
ENDIF
//trailing stop for the whole orders
SET STOP %TRAILING 1.5
Topic moved to the correct forum.
@tradetrader101 – read the rules before posting in the forums again to ensure that you post your topics in the correct place.
