Hi Roberto.

If i understand your code correct it moves limit and stolploss.

Would you make a version with trailing limit. Where stoploss is not part of the code at all?

Hi one thing I notice is that you are coding for the markets allowed exit price – how do you know that for a given market?

I thought I had replied. Essentially with guaranteed stops there is a high ‘gap’ you cant set it in – and with ‘standard’ it still applies but is smaller. I have had issues with trailing stops (or if trailing stops are protecting profit) with the algo being stopped as its tried to place an ‘illegal order’. On charts I can see where I can place it and it wont let me move it to anywhere not allowed as per below. Is there a way of coding for this? ie knowing for that market what the closest I can go is? I think your algo above kind of does this?

Hi Roberto.

Is TP used in this code?

robertogozzi wrote:

This is the same code as above (test code not included), with more comments:

// NewTrade is true whenever a new trade is opened, be it:<br /> //<br /> // – a trade when there was none previously<br /> // – a trade that has changed direction due to a Stop & Reverse (it’s Long and previously was Short and viceversa)<br /> //<br /> // This will be useful to reset variables to their initial values after a trade has been opened.<br /> //<br /> NewTrade = (OnMarket AND Not OnMarket[1]) OR (LongOnMarket AND ShortOnMarket[1]) OR (LongOnMarket[1] AND ShortOnMarket)<br /> //<br /> // Reset variables to their initial value when a new trade shows<br /> //<br /> IF Not OnMarket OR NewTrade THEN //reset to default values when a new trade has been opened (or none is OnMarket)<br /> PerCentTP = 2.0 //2.0% is TP<br /> PerCentStart = 0.2 //0.2% is the Trailing Stop trigger level<br /> PerCentStep = 0.2 //0.2% is each subsequent step<br /> PerCentSaved = 0.1 //0.1% is how much profit has to be saved when trailing starts and every step<br /> Multiplier = 1.5 //1.5 is how much PerCentSaved is incremented each trailing step<br /> // 1.5 is a 50% increment, so that:<br /> // 0.1% becomes 0.15%, then<br /> // 0.15% becomes 0.225%, then<br /> // 0.225% becomes 0.3375%, etc…<br /> Distance = 6 //6 pip distance from current price (if required by the broker)<br /> MySL = 0<br /> ProfitPerCent = 0<br /> ENDIF<br /> //<br /> // The trailing stop can operate only when OnMarket<br /> //<br /> IF OnMarket THEN<br /> //<br /> // before the trailing stop is triggered some calculations need to be done, accordin to settings<br /> //<br /> IF MySL = 0 THEN<br /> PCent = PositionPrice * PerCentTP / 100<br /> PStart = PositionPrice * PerCentStart / 100<br /> PStep = PositionPrice * PerCentStep / 100<br /> PSaved = PositionPrice * PerCentSaved / 100<br /> ENDIF<br /> //<br /> // check if Trailing Stop has to be triggered<br /> //<br /> IF MySL = 0 THEN<br /> IF LongOnMarket THEN<br /> IF (close – PositionPrice) >= PStart THEN<br /> MySL = min(close,PositionPrice + PSaved)<br /> PSaved = PSaved * Multiplier<br /> ENDIF<br /> ELSIF ShortOnMarket THEN<br /> IF (PositionPrice – close) >= PStart THEN<br /> MySL = max(close,PositionPrice – PSaved)<br /> PSaved = PSaved * Multiplier<br /> ENDIF<br /> ENDIF<br /> ELSE<br /> //<br /> // check if another Step has been triggered<br /> //<br /> IF LongOnMarket THEN<br /> IF (close – MySL) >= PStep THEN<br /> MySL = min(close,MySL + PSaved)<br /> PSaved = PSaved * Multiplier<br /> ENDIF<br /> ELSIF ShortOnMarket THEN<br /> IF (MySL – close) >= PStep THEN<br /> MySL = max(close,MySL – PSaved)<br /> PSaved = PSaved * Multiplier<br /> ENDIF<br /> ENDIF<br /> ENDIF<br /> //<br /> // place Pending STOP orders<br /> //<br /> IF MySL > 0 THEN<br /> IF (MySL = close) OR (abs(MySL – close) < Distance) THEN //exit immediately in case MySL has reached<br /> // the current price or there’s not enough DISTANCE<br /> SELL AT MARKET<br /> EXITSHORT AT MARKET<br /> ELSE<br /> SELL AT MySL STOP<br /> EXITSHORT AT MySL STOP<br /> ENDIF<br /> ENDIF<br /> ENDIF

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83

// NewTrade is true whenever a new trade is opened, be it: // // – a trade when there was none previously // – a trade that has changed direction due to a Stop & Reverse (it’s Long and previously was Short and viceversa) // // This will be useful to reset variables to their initial values after a trade has been opened. // NewTrade = (OnMarket AND Not OnMarket[1]) OR (LongOnMarket AND ShortOnMarket[1]) OR (LongOnMarket[1] AND ShortOnMarket) // // Reset variables to their initial value when a new trade shows // IF Not OnMarket OR NewTrade THEN //reset to default values when a new trade has been opened (or none is OnMarket) PerCentTP= 2.0 //2.0% is TP PerCentStart= 0.2 //0.2% is the Trailing Stop trigger level PerCentStep= 0.2 //0.2% is each subsequent step PerCentSaved= 0.1 //0.1% is how much profit has to be saved when trailing starts and every step Multiplier= 1.5 //1.5 is how much PerCentSaved is incremented each trailing step // 1.5 is a 50% increment, so that: // 0.1% becomes 0.15%, then // 0.15% becomes 0.225%, then // 0.225% becomes 0.3375%, etc… Distance= 6 //6 pip distance from current price (if required by the broker) MySL= 0 ProfitPerCent= 0 ENDIF // // The trailing stop can operate only when OnMarket // IF OnMarket THEN // // before the trailing stop is triggered some calculations need to be done, accordin to settings // IF MySL = 0 THEN PCent= PositionPrice * PerCentTP / 100 PStart= PositionPrice * PerCentStart / 100 PStep= PositionPrice * PerCentStep / 100 PSaved= PositionPrice * PerCentSaved / 100 ENDIF // // check if Trailing Stop has to be triggered // IF MySL = 0 THEN IF LongOnMarket THEN IF (close – PositionPrice) >= PStart THEN MySL= min(close,PositionPrice + PSaved) PSaved= PSaved * Multiplier ENDIF ELSIF ShortOnMarket THEN IF (PositionPrice – close) >= PStart THEN MySL= max(close,PositionPrice – PSaved) PSaved= PSaved * Multiplier ENDIF ENDIF ELSE // // check if another Step has been triggered // IF LongOnMarket THEN IF (close – MySL) >= PStep THEN MySL= min(close,MySL + PSaved) PSaved= PSaved * Multiplier ENDIF ELSIF ShortOnMarket THEN IF (MySL – close) >= PStep THEN MySL= max(close,MySL – PSaved) PSaved= PSaved * Multiplier ENDIF ENDIF ENDIF // // place Pending STOP orders // IF MySL > 0 THEN IF (MySL = close) OR (abs(MySL – close) < Distance) THEN //exit immediately in case MySL has reached // the current price or there’s not enough DISTANCE SELL AT MARKET EXITSHORT AT MARKET ELSE SELL AT MySL STOP EXITSHORT AT MySL STOP ENDIF ENDIF ENDIF

if you have more questions don’t hesitate to ask.

Is TP really used in this code?

if CB  then
BUY Positionsize CONTRACT AT MARKET
set target %profit TP
SET STOP %LOSS sl
endif

// NewTrade is true whenever a new trade is opened, be it:
//
//   - a trade when there was none previously
//   - a trade that has changed direction due to a Stop & Reverse (it's Long and previously was Short and viceversa)
//
// This will be useful to reset variables to their initial values after a trade has been opened.
//
NewTrade         = (OnMarket AND Not OnMarket[1]) OR (LongOnMarket AND ShortOnMarket[1]) OR (LongOnMarket[1] AND ShortOnMarket)
//
// Reset variables to their initial value when a new trade shows
//
IF Not OnMarket OR NewTrade THEN //reset to default values when a new trade has been opened (or none is OnMarket)
PerCentTP     = TP           //2.0%  is TP
PerCentStart  = 0.2           //0.2%  is the Trailing Stop trigger level
PerCentStep   = 0.2           //0.2%  is each subsequent step
PerCentSaved  = 0.1           //0.1%  is how much profit has to be saved when trailing starts and every step
Multiplier    = 1.5           //1.5   is how much PerCentSaved is incremented each trailing step
//                                    1.5 is a 50% increment, so that:
//                                         0.1%   becomes 0.15%,   then
//                                         0.15%  becomes 0.225%,  then
//                                         0.225% becomes 0.3375%, etc...
PerCentTP1     = PerCentTP            //2.0           //2.0%  is TP
PerCentStart1  = PerCentStart           //0.2           //0.2%  is the Trailing Stop trigger level
PerCentStep1   = 0.2           //0.2%  is each subsequent step
PerCentSaved1  = 0.1           //0.1%  is how much profit has to be saved when trailing starts and every step
Multiplier1    = 1.5           //1.5   is how much PerCentSaved is incremented each trailing step

Distance      = 4//6             //6     pip distance from current price (if required by the broker)
MySL          = 0
MySL1          = 0
ProfitPerCent = 0
ENDIF

Hi. should i use TP like this? at 2 places in code (line 19) . and in line 3?

Its from your post

BreakEven & Trailing Profit: complete function