Breakeven with a technical indicator

Oliviertrader2020 · 2021-01-13T23:13:00+00:00

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?

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01/14/2021 at 12:13 AM #157735 quote

Oliviertrader2020
Participant

Average

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?

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

Vonasi
Moderator

Master

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.

Nicolas and Oliviertrader2020 thanked this post

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

Average
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
```
01/15/2021 at 6:57 PM #157978 quote

palettofix
Participant

Junior

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

Oliviertrader2020 thanked this post

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

Vonasi
Moderator

Master

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.

Oliviertrader2020 thanked this post

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

Oliviertrader2020
Participant

Average

@ thank you very much 🙂
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Posts

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Breakeven with a technical indicator

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This topic contains 5 replies,
has 3 voices, and was last updated by Oliviertrader2020
5 years, 8 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	01/14/2021
Status:	Active
Attachments:	No files