Adding second Traling Stop Loss condition causes countertrend trade. Why?

• 04/23/2019 at 4:38 PM #97004
  Sascha

  Hi,

  So far I had one trailing stop condition which worked fine. Then I added a second condition which works partly.

  The short trade was exited after the second Trailing Stop condition was met. However, it created instantly a new long trade which should not happen.

  I guess something is not right with the order of the code.

  Can anyone help?

  Thanks.

  Sascha

  //if not order on market, reset the breakeven status if not onmarket then breakeven=0 endif //check if the current order has made 2*ATR of signal day if shortonmarket and tradeprice-close >=2*ATR then breakeven=1 endif //put stoploss at open price - 3 pip if breakeven=1 then buy at tradeprice-3*pointsize stop endif //------When adding this second set of Trailing Stop condition it causes a new long trade. Why? //if not order on market, reset the breakeven status if not onmarket then breakeven=0 endif //check if the ATR>=39 if shortonmarket and ADX[14]>=39 then breakeven=1 endif //put stoploss at open price if breakeven=1 then buy at tradeprice-1*pointsize stop endif //------ // Conditions to exit short positions ignored, indicator3 = CALL "PowerX 2" c6 = (indicator3 > -3) c7 = (close > SMA50) IF c6 OR c7 and (barindex-barorder>=1 and barorder>0) and ONMARKET THEN EXITSHORT AT MARKET barorder=0 ENDIF

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  //if not order on market, reset the breakeven status if not onmarket then breakeven=0 endif //check if the current order has made 2*ATR of signal day if shortonmarket and tradeprice-close >=2*ATR then breakeven=1 endif   //put stoploss at open price - 3 pip if breakeven=1 then buy at tradeprice-3*pointsize stop endif     //------When adding this second set of Trailing Stop condition it causes a new long trade. Why?   //if not order on market, reset the breakeven status if not onmarket then breakeven=0 endif   //check if the ATR>=39 if shortonmarket and ADX[14]>=39 then breakeven=1 endif   //put stoploss at open price if breakeven=1 then buy at tradeprice-1*pointsize stop endif //------   // Conditions to exit short positions ignored, indicator3 = CALL "PowerX 2" c6 = (indicator3 > -3)   c7 = (close > SMA50)   IF c6 OR c7 and (barindex-barorder>=1 and barorder>0) and ONMARKET THEN EXITSHORT AT MARKET barorder=0 ENDIF

   

  

  Sascha

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  04/23/2019 at 4:51 PM #97005
  Nicolas

  To close a short order, you must use EXITSHORT, not BUY instruction.

  

  Nicolas

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  04/23/2019 at 7:45 PM #97015
  Sascha

  Thanks Nicolas.

  However, I don’t just want to close the short position but I only want to adjust the stop loss to breakeven – 3 pip when CONDITION 1 is met and to breakeven – 1 pip when CONDITION 2 is met.

  The first part of the code (which contains CONDITION 1) you helped me to create and it works fine in ProBacktest.

  //if not order on market, reset the breakeven status if not onmarket then breakeven=0 endif // (CONDITION 1) //check if the current order has made 2*ATR of signal day if shortonmarket and tradeprice-close >=2*ATR then breakeven=1 endif //put stoploss at open price - 3 pip if breakeven=1 then buy at tradeprice-3*pointsize stop endif // Conditions to exit short positions ignored, indicator3 = CALL "PowerX 2" c6 = (indicator3 > -3) c7 = (close > SMA50) IF c6 OR c7 and (barindex-barorder>=1 and barorder>0) and ONMARKET THEN EXITSHORT AT MARKET barorder=0 ENDIF

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  //if not order on market, reset the breakeven status if not onmarket then breakeven=0 endif //  (CONDITION 1) //check if the current order has made 2*ATR of signal day if shortonmarket and tradeprice-close >=2*ATR then breakeven=1 endif //put stoploss at open price - 3 pip     if breakeven=1 then buy at tradeprice-3*pointsize stop endif // Conditions to exit short positions ignored, indicator3 = CALL "PowerX 2" c6 = (indicator3 > -3) c7 = (close > SMA50) IF c6 OR c7 and (barindex-barorder>=1 and barorder>0) and ONMARKET THEN EXITSHORT AT MARKET barorder=0 ENDIF

  I then added the code for CONDITION 2 to it and was hoping it would work. But it now creates a new long position after it closed a trade that met CONDITION 2.

  I just want it to adjust the Stop loss.

  // CONDITION 2 //if not order on market, reset the breakeven status if not onmarket then breakeven=0 endif //check if the ATR>=39 if shortonmarket and ADX[14]>=39 then breakeven=1 endif //put stoploss at open price if breakeven=1 then buy at tradeprice-1*pointsize stop endif

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  //   CONDITION 2   //if not order on market, reset the breakeven status if not onmarket then breakeven=0 endif   //check if the ATR>=39 if shortonmarket and ADX[14]>=39 then breakeven=1 endif   //put stoploss at open price if breakeven=1 then buy at tradeprice-1*pointsize stop endif

   

  

  Sascha

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  04/23/2019 at 8:07 PM #97020
  Sascha

  I have to correct myself. I thought that the first part of the code (CONDITION 1) was working, but now when I checked again I realized it is not working.

  It produces the same mistake that after closing the short trade when the condition is met, it creates a new long trade.

  So I guess the command     buy at tradeprice-3*pointsize stop     doesn’t work and somehow creates this countertrend trade.

  I am confused now. How can I write the code that it  changes the Stop Loss to  entry price – 3 pips?

  Thanks so much for your help.

  

  Sascha

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  04/23/2019 at 8:34 PM #97022
  Sascha

  Problem solved:

  I read through everything again and then replaced the BUY instruction with EXITSHORT and now it works.

  Somehow I assumed that EXITSHORT would exit the position at market (that was my confusion) but as I use STOP it adjusts the Stop Loss as I wanted.

  Thank you again Nicolas.

  

  Sascha

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