Breakeven or SL to entry code

• 04/22/2016 at 12:27 PM #5806
  davidp13

  Hi. Is it possible to write code that sets your open positions SL to entry/breakeven once the trade has move positively into your direction with a certain number of points?

  Thanks

  

  davidp13

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  04/22/2016 at 12:48 PM #5809
  zilliq

  Hi David,

  Yes you can but the problem is that you probably stop very very often because you have generally à retracement before the impulsion in the good direction.

  See on Google the concept of maximum adverse excursion

  Have a nice day

  Zilliq (in holidays)

  

  zilliq

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  04/22/2016 at 12:58 PM #5812
  Nicolas

  Hi David, yes it’s possible with PROBACKTEST specific instructions.

  Here is a complete example on how to achieve your breakeven functionnality:

  If current buy order is in gain of 30 points, order will be closed at entry price + 5 points.

  defparam cumulateorders = false c1 = close>close[1] if c1 then BUY 1 LOT AT MARKET SET STOP PLOSS 50 endif IF NOT ONMARKET THEN newSL=0 ENDIF IF LONGONMARKET AND close-tradeprice(1)>=30*pipsize THEN newSL = tradeprice(1)+5*pipsize ENDIF IF newSL>0 THEN SELL AT newSL STOP ENDIF

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  defparam cumulateorders = false   c1 = close>close[1]   if c1 then BUY 1 LOT AT MARKET SET STOP PLOSS 50 endif   IF NOT ONMARKET THEN newSL=0 ENDIF   IF LONGONMARKET AND close-tradeprice(1)>=30*pipsize THEN newSL = tradeprice(1)+5*pipsize ENDIF   IF newSL>0 THEN SELL AT newSL STOP ENDIF

   

   

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  Bel

  

  Nicolas

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  05/24/2016 at 10:40 PM #7941
  GunnerNic

  Hi Nicolas, is it possible to bring the SL to BE + 5 but keep the trade going and not exit it at that point?

  Would it be something like this then:

  <span class="token comment" spellcheck="true">// Stops and targets</span> <span class="token keyword">SET STOP</span> <span class="token keyword">PLOSS</span> <span class="token number">50</span>

  1 2	<span class="token comment" spellcheck="true">// Stops and targets</span> <span class="token keyword">SET STOP</span> <span class="token keyword">PLOSS</span> <span class="token number">50</span>

  newSL = 0 IF LONGONMARKET AND close-tradeprice(1)>=30*pipsize THEN newSL = tradeprice(1)+5*pipsize ENDIF IF newSL>0 THEN <span class="token keyword">SET STOP</span> <span class="token keyword">PLOSS</span> <span class="token number">newSL </span></code><code class="language-prorealtime">ENDIF

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  newSL = 0   IF LONGONMARKET AND close-tradeprice(1)>=30*pipsize THEN newSL = tradeprice(1)+5*pipsize ENDIF   IF newSL>0 THEN <span class="token keyword">SET STOP</span> <span class="token keyword">PLOSS</span> <span class="token number">newSL </span></code><code class="language-prorealtime">ENDIF

  Tx

  Steve

  

  GunnerNic

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  06/06/2016 at 8:26 AM #8875
  davidp13

  Hi Nicholas,

  Three question on the above:

  1. Will GunnerNic’ code work?
  2. Your first code set will deactivate the SELL AT newSL STOP once the preceding IF statement is not true anymore, correct? So when close-tradeprice(1)>=30*pipsize is not true will the exit not work anymore until it becomes true again?
  3. Why do you use the (1) after tradeprice? What does it do?

  Thanks

  

  davidp13

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  06/06/2016 at 9:24 AM #8876
  Nicolas

  Hi David, didn’t see the Gunnernic reply before, so here is the answers for your 3 questions:

  1/ Gunnernic’ code will not work because PLOSS needs point information and not price one

  2/ Once this conditional statement is true one time, newSL will take its value. Since we do not use “else”, newSL will keep its value until a new one will be affected to it.

  3/ (1) is the previous number of the order we want to look at

  

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