Bar by Bar Trailing Stop

• 06/18/2023 at 11:51 AM #216413
  Ringo

  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

  

  Ringo

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  06/18/2023 at 12:54 PM #216415
  JS

  Hi, Try this trailing stop…

  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

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  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

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  Ringo

  

  JS

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  06/18/2023 at 2:18 PM #216418
  Ringo

  Thank you for help, but I guess that is not what I mean. I will post an example chart

  

  Ringo

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  06/18/2023 at 5:57 PM #216424
  Ringo

  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

  

  Ringo

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  06/19/2023 at 12:48 AM #216429
  robertogozzi

  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")

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  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")

   

   

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  robertogozzi

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  06/19/2023 at 6:31 AM #216433
  JS

  Hi

  I’ve modified the original trailing stop to your terms…
   
   

  Ringo TSL

  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")

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  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")

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  JS

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  06/19/2023 at 2:42 PM #216476
  Ringo

  Thanks all for your help, I now coded a combination of both terms and see how it will works

  

  Ringo

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  11/04/2023 at 9:39 PM #223209
  Ringo

  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

  

  Ringo

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