Automatically place a reverse trade

• 04/04/2018 at 12:26 PM #67138
  Lisa Beaney

  I wonder if anyone can help… I’m trying to write code so that a new order is placed automatically if our stop is hit. For example we go long on the DAX with a stop of 14. The DAX falls and hits our stop. I then want to automatically open a new order to go short with a stop and limit in place for the new trade….

   

  

  Lisa Beaney

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  04/04/2018 at 12:36 PM #67139
  Despair

  Show us how far you got with this.

  I assume your stop is a pending stop order? In that case the new order can be triggered at the open of the next bar. More instantly I think it is not possible with PRT.

  

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  04/04/2018 at 12:48 PM #67141
  GraHal

  An entry Buy limit order at same price level as the exit sell stop order or vice versa?

   

  

  GraHal

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  04/04/2018 at 1:01 PM #67143
  Despair

  Good idea Grahal! Might end up in some case that not both orders are filled simultaneously though.

  Ah how stupid. Just place a stop order of double size so you end up with a switched position and don’t risk that only one side was filled. Jesus I better go to bed again. 🙂

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  GraHal

  

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  04/04/2018 at 2:50 PM #67147
  Lisa Beaney

  The stop is coded as :

  SET STOP pLOSS vSLoss

  It is when this stop is triggered I want to enter the new trade. If the original trade moves in to profit I then start trailing the stop up…..

  This is the code to trail the stop :

  // Check if the short is in profit. If so put our locked in limit in place IF SHORTONMARKET THEN vProfit = tradeprice(1) - close vTarget = iATR * vATR IF vProfit > 0 THEN //check if we are in profit IF (iSuperTrend1 + vSLvar ) < (tradeprice(1) + vSLoss) THEN //Check that the SuperTrend is above our stop newSL = (iSuperTrend1 + vSLvar) ENDIF IF vProfit > vTarget AND newSL > (tradeprice(1) - vLock) THEN newSL = tradeprice(1) - vLock ENDIF ELSE IF (iSuperTrend1 + vSLvar ) < (tradeprice(1) + vSLoss) THEN //Check that the SuperTrend is above our stop newSL = (iSuperTrend1 + vSLvar) ENDIF ENDIF ENDIF

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  // Check if the short is in profit. If so put our locked in limit in place IF SHORTONMARKET THEN vProfit = tradeprice(1) - close vTarget = iATR * vATR IF vProfit > 0 THEN //check if we are in profit IF (iSuperTrend1 + vSLvar ) < (tradeprice(1) + vSLoss) THEN //Check that the SuperTrend is above our stop newSL = (iSuperTrend1 + vSLvar) ENDIF IF vProfit > vTarget AND newSL > (tradeprice(1) - vLock) THEN newSL = tradeprice(1) - vLock ENDIF ELSE IF (iSuperTrend1 + vSLvar ) < (tradeprice(1) + vSLoss) THEN //Check that the SuperTrend is above our stop newSL = (iSuperTrend1 + vSLvar) ENDIF ENDIF ENDIF

   

  I have the reverse of this code for Buy trades.

  

  Lisa Beaney

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  04/04/2018 at 2:58 PM #67148
  Despair

  Like I wrote above. Don’t use SET STOP PLOSS. Just place a normal stop order at the desired level but double the positionsize. Then you will end up with an reversed position.

  BTW your code is much easier to read if you use the “insert code” function and not simply copy/paste it in the text.

  

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