Hello,
I am trading only stocks and I try to add a bar by bar trailing stop to my position.
At the moment the stop managment looks like this: Entry / SL 20cents / Move SL to Break Even when position is up 25 cents / Take profit at +32 cents
I would like to replace the Take profit with a BbB trailing stop, means when the current bar closes on a new 5 period high, the stop goes under this closed bar.
Code:
// Stops und Targets: Legen Sie hier schützende Stops und Profit Targets fest
SET STOP LOSS 0.20
SET TARGET PROFIT 0.32
IF LONGONMARKET THEN
IF HIGH-Tradeprice >= 0.25 THEN
SET STOP BREAKEVEN
ENDIF
ENDIF
Thanks for help
Regards André
JSParticipant
Senior
Hi, Try this trailing stop…
StopLoss = 23 //StopLoss size
TrailingStopStart = 0 //Trailing Stop start at X points in profit
buystoploss = close-StopLoss*pointsize
sellstoploss = close+StopLoss*pointsize
if not onmarket then
ibuystoploss=buystoploss
isellstoploss=sellstoploss
endif
if longonmarket then
//checking and adjusting stoploss
if close-tradeprice>=trailingstopstart*pointsize then
ibuystoploss = max(ibuystoploss,high-(stoploss+trailingstopstart)*pointsize)
endif
//set the stoploss level
sell at ibuystoploss stop
endif
if shortonmarket then
//checking and adjusting stoploss
if tradeprice-close>=trailingstopstart*pointsize then
isellstoploss = min(isellstoploss,low+(stoploss+trailingstopstart)*pointsize)
endif
//set the stoploss level
exitshort at isellstoploss stop
endif
Thank you for help, but I guess that is not what I mean. I will post an example chart
without the Breakeven Term it must be like this:
BbB= High[0]-Low[0] + 0.01
// Stops und Targets: Legen Sie hier schützende Stops und Profit Targets fest
SET STOP LOSS 0.20
IF LONGONMARKET AND Close[0] > Highest[5] (High[1]) THEN
Set Stop Price High[0] – BbB
ENDIF
IF SHORTONMARKET AND Close[0] < Lowest[5] (Low[1]) THEN
Set Stop Price Low[0] + BbB
ENDIF
Try appending these lines to your code:
IF Not OnMarket THEN
StopPrice = 0
ELSE
IF PositionPerf > 0 THEN
IF LongOnMarket THEN
IF close > high[1] THEN
StopPrice = max(StopPrice,low)
SET STOP PRICE StopPrice
ENDIF
ENDIF
ENDIF
ENDIF
graphonprice TradePrice
graphonprice StopPrice coloured("Red")
JSParticipant
Senior
Hi
I’ve modified the original trailing stop to your terms…
StopLoss= xSL
if not onmarket then
buystoploss = close-StopLoss
sellstoploss = close+StopLoss
ibuystoploss=buystoploss
isellstoploss=sellstoploss
endif
if longonmarket then
//checking and adjusting stoploss
if High>Highest[5](High[1]) and High>High[1] then
ibuystoploss = (Highest[5](High[1])-StopLoss)
endif
endif
if shortonmarket then
//checking and adjusting stoploss
if Low<Lowest[5](Low[1]) and Low < Low[1] then
isellstoploss = (Lowest[5](Low[1])+StopLoss)
endif
endif
//set the stoploss level
sell at ibuystoploss stop
exitshort at isellstoploss stop
GraphOnPrice Highest[5](High[1]) coloured("red")
GraphOnPrice Lowest[5](Low[1]) coloured("Blue")
Thanks all for your help, I now coded a combination of both terms and see how it will works
Hello,
following question regarding my code for a BE and then trailing stop:
The code works fine so far. But I have the problem, that , if condition 2 is fullfilled and it comes to a trailing stop, the first BE +0,01 Stop also remains in the system. How can I delete the first BE +0,01 stop, after condition 2 is fullfilled?
Thanks for help
//Manage Long Position / BE Stop / Bar by Bar Trail Outside Candle
IF LONGONMARKET THEN
//Breakeven SL at +0,20
IF StopPrice = 0 AND High – TRADEPRICE >= 0.20 THEN
StopPrice = TRADEPRICE +0.01
ENDIF
//Bar by Bar Trail Outside Candle
IF StopPrice > 0 AND Close > Highest[5] (High[1]) THEN
StopPrice = Low -0.01
ENDIF
ENDIF
