Break even coding

• 05/29/2018 at 9:07 PM #71638
  ChrisNYE

  I want to include code that enables a trade to go to break even after n pips. I was given this code but does not seem to work on auto back test

  if not onmarket then breakeven=0 endif if longonmarket then if close-tradeprice(1)>=400 then breakeven = 1 endif if breakeven then sell at tradeprice(1) sto endif endif

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  if not onmarket then breakeven=0 endif   if longonmarket then if close-tradeprice(1)>=400 then breakeven = 1 endif if breakeven then sell at tradeprice(1) sto endif endif

  Thank you

  Chris

   

  

  ChrisNYE

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  05/29/2018 at 9:34 PM #71644
  Vonasi

  Please try to post in the correct forum to get the best chance of assistance. I have moved your request from the ProBuilder forum which is for indicators to the ProOrder forum which is for auto-trading strategies.

  Also it is preferred if you use the ‘Insert PRT Code’ button to make your posts more readable when they include code. I have tidied up your post for you 🙂

  

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  05/29/2018 at 9:44 PM #71646
  Vonasi

  I’ll assume that it is not just because there is no ‘p’ in STOP!

  Try this:

  if not longonmarket then breakeven = 0 endif if longonmarket and close-tradeprice>=400 then breakeven = 1 endif if longonmarket and breakeven then sell at tradeprice stop endif

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  if not longonmarket then breakeven = 0 endif if longonmarket and close-tradeprice>=400 then breakeven = 1 endif   if longonmarket and breakeven then sell at tradeprice stop endif

  Are you testing in tick by tick mode?

  

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  05/29/2018 at 9:58 PM #71648
  ChrisNYE

  No that was my mistake. I have used the ‘p’ in the code.

  Thank you for moving to correct forum

  

  ChrisNYE

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  05/29/2018 at 11:04 PM #71651
  ChrisNYE

  Vonasi, How would the code be written for short entries?

  Yes I am in tick by tick mode

   

  

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  05/29/2018 at 11:10 PM #71652
  ChrisNYE

  What I am trying to achieve is:

  to have an initial stop of 200 pips, then once the trade movies in my favor by 400 pips I want to trail stop to break even. I have a limit order set at 600 pips to take profit.

  

  ChrisNYE

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  05/29/2018 at 11:12 PM #71653
  robertogozzi

  Your code can be abridged like that

  if longonmarket and close-tradeprice>=400 then sell at tradeprice stop endif

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  if longonmarket and close-tradeprice>=400 then    sell at tradeprice stop endif

  for SHORT trades

  if shortonmarket and tradeprice-close>=400 then exitshort at tradeprice stop endif

  1 2 3

  if shortonmarket and tradeprice-close>=400 then    exitshort at tradeprice stop endif

  This code will work for DAX. S&P500 and other instruments, but not for FX pairs, since 400 will never be reached by any currency!!!! You should use 400*pipsize to make your code portable to all instruments.

   

  

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  05/29/2018 at 11:40 PM #71658
  ChrisNYE

  / Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Conditions to enter long positions indicator1 = ExponentialAverage[19](close) indicator2 = ExponentialAverage[63](close) c1 = (indicator1 CROSSES OVER indicator2) IF c1 and Not OnMarket THEN BUY 19 CONTRACT AT MARKET ENDIF // Conditions to enter short positions indicator3 = ExponentialAverage[5](close) indicator4 = ExponentialAverage[68](close) c2 = (indicator3 CROSSES UNDER indicator4) IF c2 and Not OnMarket THEN SELLSHORT 19 CONTRACT AT MARKET ENDIF // Stops and targets SET STOP pLOSS 20 SET TARGET pPROFIT 60

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  / Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated   // Conditions to enter long positions indicator1 = ExponentialAverage[19](close) indicator2 = ExponentialAverage[63](close) c1 = (indicator1 CROSSES OVER indicator2)   IF c1 and Not OnMarket THEN BUY 19 CONTRACT AT MARKET ENDIF   // Conditions to enter short positions indicator3 = ExponentialAverage[5](close) indicator4 = ExponentialAverage[68](close) c2 = (indicator3 CROSSES UNDER indicator4)   IF c2 and Not OnMarket THEN SELLSHORT 19 CONTRACT AT MARKET ENDIF   // Stops and targets SET STOP pLOSS 20 SET TARGET pPROFIT 60

  This is my basic code, and now I want it to trail to break even after 40 pips in profit.

  

  ChrisNYE

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  05/30/2018 at 12:10 AM #71660
  robertogozzi

  Test this one, I added a few lines between 2 and 4

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated IF Not OnMarket THEN BreakEven = 0 ELSIF LongOnMarket THEN IF (close - TradePrice) >= (40 * pipsize) THEN BreakEven = 1 ENDIF IF BreakEven THEN SELL AT TradePrice STOP ENDIF ELSIF ShortOnMarket THEN IF (TradePrice - close) >= (40 * pipsize) THEN BreakEven = 1 ENDIF IF BreakEven THEN EXITSHORT AT TradePrice STOP ENDIF ENDIF // Conditions to enter long positions indicator1 = ExponentialAverage[19](close) indicator2 = ExponentialAverage[63](close) c1 = (indicator1 CROSSES OVER indicator2) IF c1 and Not OnMarket THEN BUY 19 CONTRACT AT MARKET ENDIF // Conditions to enter short positions indicator3 = ExponentialAverage[5](close) indicator4 = ExponentialAverage[68](close) c2 = (indicator3 CROSSES UNDER indicator4) IF c2 and Not OnMarket THEN SELLSHORT 19 CONTRACT AT MARKET ENDIF // Stops and targets SET STOP pLOSS 20 SET TARGET pPROFIT 60

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated   IF Not OnMarket THEN    BreakEven = 0 ELSIF LongOnMarket THEN    IF (close - TradePrice) >= (40 * pipsize) THEN       BreakEven = 1    ENDIF    IF BreakEven THEN       SELL AT TradePrice STOP    ENDIF ELSIF ShortOnMarket THEN    IF (TradePrice - close) >= (40 * pipsize) THEN       BreakEven = 1    ENDIF    IF BreakEven THEN       EXITSHORT AT TradePrice STOP    ENDIF ENDIF   // Conditions to enter long positions indicator1 = ExponentialAverage[19](close) indicator2 = ExponentialAverage[63](close) c1 = (indicator1 CROSSES OVER indicator2) IF c1 and Not OnMarket THEN    BUY 19 CONTRACT AT MARKET ENDIF // Conditions to enter short positions indicator3 = ExponentialAverage[5](close) indicator4 = ExponentialAverage[68](close) c2 = (indicator3 CROSSES UNDER indicator4) IF c2 and Not OnMarket THEN    SELLSHORT 19 CONTRACT AT MARKET ENDIF // Stops and targets SET STOP pLOSS 20 SET TARGET pPROFIT 60

   

  

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  05/30/2018 at 3:14 AM #71667
  ChrisNYE

  My analysis is that if I have 20 trades reach 40 pip profit and 16 trades reach 60 pip profit you would assume that with a 40 pip trail to break even that 4 trades would be break even if I was using a 60 pip take profit limit – which is the difference of the trades that reached 40 minus 60 pip trades.

  For some reason the theory doesnt seem to apply with this or any other code I have found.

  Am I missing something?

  

  ChrisNYE

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  05/30/2018 at 6:37 AM #71669
  Vonasi

  robertogozzi wrote:

  Your code can be abridged like that

  if longonmarket and close-tradeprice>=400 then<br /> sell at tradeprice stop<br /> endif

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  if longonmarket and close–tradeprice>=400 then sell at tradeprice stop endif

  for SHORT trades

  if shortonmarket and tradeprice-close>=400 then<br /> exitshort at tradeprice stop<br /> endif

  1 2 3

  if shortonmarket and tradeprice–close>=400 then exitshort at tradeprice stop endif

  Was your intention to do away with the BreakEven condition? Used on their own these will only close the trade if profit is above 400 and then falls in the same candle all the way back to zero. If profit is a above 400 and on the next candle drops to 300 then the sell order is not placed so there is no break even stop even though the trigger level was previously reached.

   

  

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  05/30/2018 at 10:06 AM #71674
  robertogozzi

  Vonasi, that was a simple suggestion on existing code, I did not even think about breakeven. There was no strategy, so I could only correct what was unnecessary and the way pips should be referenced.

  I later posted the whole strategy revised with Breakeven.

  

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  05/30/2018 at 10:13 AM #71676
  robertogozzi

  ChrisNYE wrote:

  My analysis is that if I have 20 trades reach 40 pip profit and 16 trades reach 60 pip profit you would assume that with a 40 pip trail to break even that 4 trades would be break even if I was using a 60 pip take profit limit – which is the difference of the trades that reached 40 minus 60 pip trades.

  For some reason the theory doesnt seem to apply with this or any other code I have found.

  Am I missing something?

  That code is, as requested, for trailing to Breakeven, which is done once 40 pips profit have been reached. If they go ahead and reach 60 they’ll cash 60 pips, if the go backwards they’ll exit at the entry price. If you want to trail the whole think, it’s not just a question of breakeven, it’s a question of a complete trailing stop system.

  There’s one here that has been used for some years by many users and works quite well (MTF apart which will allow to improve the system): https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/.

  and official documentation https://www.prorealcode.com/blog/learning/kinds-trailing-stop-proorder/.

  By searching you should also find a combination of the trailing stop code with breakeven code.

  

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  05/30/2018 at 10:23 AM #71677
  Vonasi

  robertogozzi wrote:

  Vonasi, that was a simple suggestion on existing code, I did not even think about breakeven. There was no strategy, so I could only correct what was unnecessary and the way pips should be referenced.

  I later posted the whole strategy revised with Breakeven.

  No problem. I was just a bit concerned that someone reading it would think that that was a working break even code. 🙂

   

  

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  05/30/2018 at 10:28 AM #71678
  Vonasi

  ChrisNYE wrote:

  My analysis is that if I have 20 trades reach 40 pip profit and 16 trades reach 60 pip profit you would assume that with a 40 pip trail to break even that 4 trades would be break even if I was using a 60 pip take profit limit – which is the difference of the trades that reached 40 minus 60 pip trades.

  For some reason the theory doesnt seem to apply with this or any other code I have found.

  Am I missing something?

  I would suggest graphing the close minus tradeprice and the high minus tradeprice so that you can more closely inspect what is happening when a long trade is opened (and the opposite for a short) which will give you more clues as to why it is not behaving how you think it should.

  

  Vonasi

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