Breakeven with a technical indicator

• 01/14/2021 at 12:13 AM #157735
  Oliviertrader2020

  Hello,
  Is it possible to put the SL in Breakeven when it reaches a technical indicator?

  Example :
  – I buy when the price bounces on the lower bollinger band
  – I place my SL under the most recent low
  – I target as TP the upper bollinger band

  Is it possible to move the SL to breakeven when the price reaches the SMA20?

  

  Oliviertrader2020

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  01/14/2021 at 12:25 AM #157737
  Vonasi

  You can place orders to sell at any price using pending STOP and LIMIT orders. So just check if your SMA condition has been met and then set a flag and send a pending order to sell at TRADEPRICE for every bar while the flag is true. Reset the flag once NOT ONMARKET.

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  Oliviertrader2020, Nicolas

  

  Vonasi

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  01/15/2021 at 6:08 PM #157963
  Oliviertrader2020

  Hello @vonasi, thank you, I tried to put a flag for the condition (close>=SMA20 ), in order to move the SL to breakeven.
  But I think there’s a mistake in my coding.
  Can you help me?

  // BUY if ConditionsPurchase AND Not OnMarket then BUY 1 lot AT market endif // BREAKEVEN SMA20 = Average [20](close) once flag = (close >= SMA20) if OnMarket AND flag =1 then SELL 1 lot AT TRADEPRICE +1 LIMIT endif // TP = HIGH BOLLINGER BBH = BollingerUp [20](close) C3 = (high >= BBH) MyConditionsCloture = C3 if MyConditionsCloture AND OnMarket then SELL 1 lot AT market endif

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

  // BUY if ConditionsPurchase AND Not OnMarket then BUY 1 lot AT market endif   // BREAKEVEN SMA20 = Average [20](close) once flag = (close >= SMA20) if OnMarket AND flag =1 then SELL 1 lot AT TRADEPRICE +1 LIMIT endif   // TP = HIGH BOLLINGER BBH = BollingerUp [20](close) C3 = (high >= BBH)   MyConditionsCloture = C3   if MyConditionsCloture AND OnMarket then SELL 1 lot AT market endif

  

  Oliviertrader2020

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  01/15/2021 at 6:57 PM #157978
  palettofix

  The “once” in line 8 is wrong. This calculation is done once at the start, not on every candle. Just remove it.

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  Oliviertrader2020

  

  palettofix

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  01/15/2021 at 8:07 PM #157986
  Vonasi

  LIMIT sells at a better price than the current close whereas STOP sells at an inferior price than the current close so you are using the wrong instruction.

  Also as said before ONCE is not neeeded.

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  Oliviertrader2020

  

  Vonasi

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  01/16/2021 at 1:00 AM #158012
  Oliviertrader2020

  @ thank you very much 🙂

  

  Oliviertrader2020

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