Adding Orders Near Take Profit/Short Sell Near Stop Loss

• 06/03/2020 at 12:07 AM #134309
  tradetrader101

  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?

  The Code So Far

  //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

  1 2 3 4 5 6 7 8

  //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

  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

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80

  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

   

  

  tradetrader101

  Participant

  Topics: 7

  Replies: 19

  Been thanked: 1 time
  06/03/2020 at 7:42 AM #134321
  GraHal

  tradetrader101 wrote:

  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.

  

  GraHal

  Participant

  Topics: 204

  Replies: 8399

  Been thanked: 2041 times
  06/04/2020 at 11:04 PM #134607
  tradetrader101

  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?

   

   

  Basically This

  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

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

  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

   

  

  tradetrader101

  Participant

  Topics: 7

  Replies: 19

  Been thanked: 1 time
  06/05/2020 at 8:10 AM #134638
  Vonasi

  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.

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1810 times
• Author
  Posts