BreakEven & Trailing Profit: complete function
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- SellPriceX = max(max(SellPriceX,SellPrice),q1) What is the meaning of SellPriceX?
it makes sure that whatever the calculations are, the PRICE at which the position is closed is NEVER less than the previous one - ProfitPerCent = max(ProfitPerCent[1],min(100,ProfitPerCent)) Should the ‘100’ not be ‘1’?
yes, it should be 1, you can change it. I actually was reported by another user last year, but I always forgot to change it as it doesn’t affect calculations
There you go:
123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899100101102103104105106107108109110111112113114115116117118119120//------------------------------------------------------------------------------------------------------------------------------------------------ONCE UseCLOSE = 1 //1=use CLOSE, 0=use High/LowsrcH = close //defaults to CLOSEsrcL = close //defaults to CLOSEIF UseCLOSE = 0 THENsrcH = highsrcL = lowENDIFDirectionSwitch = (LongOnMarket AND ShortOnMarket[1]) OR (LongOnMarket[1] AND ShortOnMarket) //True when there's been a change in the direction (likely to be due to a Stop & Reverse)IF Not OnMarket OR DirectionSwitch THEN//// when NOT OnMarket or thare's been a change in direction, reset values to their default settings//TrailStart = 30 //30 Start trailing profits from this pointBasePerCent = 0.200 //20.0% Profit percentage to keep when setting BerakEvenStepSize = 10 //10 Pip chunks to increase PercentagePerCentInc = 0.100 //10.0% PerCent increment after each StepSize chunkRoundTO = -0.5 //-0.5 rounds always to Lower integer, +0.4 rounds always to Higher integer, 0 defaults PRT behaviourPriceDistance = 7 * pipsize //7 minimun distance from current pricey1 = 0 //reset to 0y2 = 0 //reset to 0ProfitPerCent = BasePerCent //reset to desired default value//PositionCount = 0SellPrice = 0SellPriceX = 0ExitPrice = 9999999ExitPriceX = 9999999ELSE//------------------------------------------------------// --- Update Stop Loss after accumulating new positions//------------------------------------------------------//PositionCount = max(PositionCount,abs(CountOfPosition))//// update Stop Loss only when PositionPrice has changed (actually when increased, we don't move it if there's been some positions exited)////IF PositionCount <> PositionCount[1] AND (ExitPrice + SellPrice)<>9999999 THEN //go on only if Trailing Stop had already started trailingIF PositionPrice <> PositionPrice[1] AND (ExitPrice + SellPrice) <> 9999999 THEN //go on only if Trailing Stop had already started trailingIF LongOnMarket THENq1 = PositionPrice + ((srcH - PositionPrice) * ProfitPerCent) //calculate new SLSellPriceX = max(max(SellPriceX,SellPrice),q1)SellPrice = max(max(SellPriceX,SellPrice),PositionPrice + (y1 * pipsize)) //set exit price to whatever grants greater profits, comopared to the previous oneELSIF ShortOnMarket THENr1 = PositionPrice - ((PositionPrice - srcL) * ProfitPerCent) //calculate new SLExitPriceX = min(min(ExitPriceX,ExitPrice),r1)ExitPrice = min(min(ExitPriceX,ExitPrice),PositionPrice - (y2 * pipsize)) //set exit price to whatever grants greater profits, comopared to the previous oneENDIFENDIF// --- Update ENDENDIF//IF LongOnMarket AND srcH > (PositionPrice + (y1 * pipsize)) THEN //LONG positions//// compute the value of the Percentage of profits, if any, to lock in for LONG trades//x1 = (srcH - PositionPrice) / pipsize //convert price to pipsIF x1 >= TrailStart THEN // go ahead only if N+ pipsDiff1 = abs(TrailStart - x1) //difference from current profit and TrailStartChunks1 = max(0,round((Diff1 / StepSize) + RoundTO)) //number of STEPSIZE chunksProfitPerCent = BasePerCent + (BasePerCent * (Chunks1 * PerCentInc)) //compute new size of ProfitPerCentProfitPerCent = max(ProfitPerCent[1],min(100,ProfitPerCent)) //make sure ProfitPerCent doess not exceed 100%y1 = max(x1 * ProfitPerCent, y1) //y1 = % of max profitENDIFELSIF ShortOnMarket AND srcL < (PositionPrice - (y2 * pipsize)) THEN //SHORT positions//// compute the value of the Percentage of profits, if any, to lock in for SHORT trades//x2 = (PositionPrice - srcL) / pipsize //convert price to pipsIF x2 >= TrailStart THEN // go ahead only if N+ pipsDiff2 = abs(TrailStart - x2) //difference from current profit and TrailStartChunks2 = max(0,round((Diff2 / StepSize) + RoundTO)) //number of STEPSIZE chunksProfitPerCent = BasePerCent + (BasePerCent * (Chunks2 * PerCentInc)) //compute new size of ProfitPerCentProfitPerCent = max(ProfitPerCent[1],min(100,ProfitPerCent)) //make sure ProfitPerCent doess not exceed 100%y2 = max(x2 * ProfitPerCent, y2) //y2 = % of max profitENDIFENDIF//------------------------------------------------------------------------------// manage actual Exit, if needed//------------------------------------------------------------------------------IF y1 THEN //Place pending STOP order when y1 > 0 (LONG positions)SellPrice = max(SellPrice,PositionPrice + (y1 * pipsize)) //convert pips to price//// check the minimun distance between ExitPrice and current price//IF abs(close - SellPrice) > PriceDistance THEN//// place either a LIMIT or STOP pending order according to current price positioning//IF close >= SellPrice THENSELL AT SellPrice STOPELSESELL AT SellPrice LIMITENDIFELSE////sell AT MARKET when EXITPRICE does not meet the broker's minimun distance from current price//SELL AT MarketENDIFENDIFIF y2 THEN //Place pending STOP order when y2 > 0 (SHORT positions)ExitPrice = min(ExitPrice,PositionPrice - (y2 * pipsize)) //convert pips to price//// check the minimun distance between ExitPrice and current price//IF abs(close - ExitPrice) > PriceDistance THEN//// place either a LIMIT or STOP pending order according to current price positioning//IF close <= ExitPrice THENEXITSHORT AT ExitPrice STOPELSEEXITSHORT AT ExitPrice LIMITENDIFELSE////ExitShort AT MARKET when EXITPRICE does not meet the broker's minimun distance from current price//EXITSHORT AT MarketENDIFENDIF2 users thanked author for this post.
Here’s a very minor mod, if you want to use % instead of points
12ts = (tradeprice*pc)/100 // % trailing startTrailStart = ts // Start trailing profits from this pointThanks again Roberto for all your work on this!
1 user thanked author for this post.
- SellPriceX = max(max(SellPriceX,SellPrice),q1) What is the meaning of SellPriceX?
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