DEFPARAM CumulateOrders = False
// Timeframe : H1
tradingtime=(time >=090000 and time <=090000)
if time=090000 then
value2 = high
value1 = low
EntryPrice = (high) + (10* pipsize)
EntryPrice1 = (low) – (10 * pipsize)
StopLoss = range + (20 * pipsize) //10 pips below LOW
StopLoss1 = range + (20 * pipsize) //10 pips above HIGH
//takeprofit = range + (20 * pipsize) // TP LONG/SHORT
ENDIF
// Conditions to enter long positions
IF NOT LongOnMarket AND tradingtime and value2 THEN
BUY 0.5 CONTRACTS AT EntryPrice STOP
ENDIF
IF OnMarket THEN
SET STOP LOSS StopLoss
ENDIF
// Conditions to enter Short positions
IF NOT ShortOnMarket AND tradingtime and value1 THEN
SEllSHORT 0.5 CONTRACTS AT EntryPrice1 STOP
ENDIF
IF OnMarket THEN
SET STOP LOSS StopLoss1
ENDIF
// Stops and targets : Enter your protection stops and profit targets here
// points based STOP LOSS and TRAILING STOP
// initial STOP LOSS
//set target of positions at 40 points
SET TARGET PROFIT 200 //(”takeprofit” must be here if you want to achive 1:1 and remove below coding if not breakeven)
//************************************************************************
//trailing stop function
trailingstart = 15 //trailing will start @trailinstart points profit
trailingstep = 5 //trailing step to move the “stoploss”
//reset the stoploss value
IF NOT ONMARKET THEN
newSL=0
ENDIF
//manage long positions
IF LONGONMARKET THEN
//first move (breakeven)
IF newSL=0 AND close-tradeprice(1)>=trailingstart*pipsize THEN
newSL = tradeprice(1)+trailingstep*pipsize
ENDIF
//next moves
IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN
newSL = newSL+trailingstep*pipsize
ENDIF
ENDIF
//manage short positions
IF SHORTONMARKET THEN
//first move (breakeven)
IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN
newSL = tradeprice(1)-trailingstep*pipsize
ENDIF
//next moves
IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN
newSL = newSL-trailingstep*pipsize
ENDIF
ENDIF
//stop order to exit the positions
IF newSL>0 THEN
SELL AT newSL STOP
EXITSHORT AT newSL STOP
ENDIF
//************************************************************************
Hi
Everyone this is a breakout strategy i was made with Nicolos and Robertos help massively. i’m still learning..
I have added a trailing SL seems to be working fine. Is there a way that this can be developed in to have a take profit 1:2 or 1:3, meaning if the SL to entry had 30pips range target will be 60pips or 90pips?
Please, can anyone have a look at this highly appreciated?
Thank you in advance.
.
