Breakout after 5 candles

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    Posts
  • 07/23/2025 at 5:10 PM #249069 quote
    f1_maik
    Participant
    Junior

    Hello again after a long time.

    I found this old code here. See above.

    I wanted to ask how I can set the stop below the outside candle and the take profit to the next higher high?

    Can anyone help please?

    08/01/2025 at 5:18 PM #249252 quote
    robertogozzi
    Moderator
    Master

    There you go:

    ONCE Tally = 0
OTD = (Barindex - TradeIndex(1) > IntradayBarIndex)
OutSideBAR = (high > high[1]) AND (low < low[1])
IF OutSideBAR AND Not OnMarket THEN
   Tally = 1
   Entry = high + 5 * PipSize //Entry price = HIGH + 5 pips
   SL    = low  - 1*PipSize
   TP    = high + 1*PipSize
ENDIF

IF Tally > 5 OR OnMarket OR (StrategyProfit <> StrategyProfit[1]) THEN
   Tally = 0
ELSIF Tally[1] > 0 THEN
   Tally = Tally + 1
ENDIF
 
MaxShares = abs(COUNTOFPOSITION) <= 1
 
IF Tally AND Not LongOnMarket AND MaxShares AND OTD THEN
   BUY 1 CONTRACT AT Entry STOP
   SET STOP   PRICE SL
   SET TARGET PRICE TP
ENDIF

//graph Tally
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Breakout after 5 candles


ProOrder: Automated Strategies & Backtesting

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f1_maik @f1_maik Participant
Summary

This topic contains 16 replies,
has 5 voices, and was last updated by robertogozzi
6 months, 2 weeks ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 11/13/2022
Status: Active
Attachments: 1 files
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