Breakout Strategy on the candle stick – please Help!!

• 07/14/2025 at 8:09 PM #248874
  crolakstrading

   

  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 //************************************************************************

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  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 //************************************************************************

  

  crolakstrading

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  07/14/2025 at 9:17 PM #248876
  robertogozzi

  The lines:

  IF NOT LongOnMarket AND tradingtime and value2 THEN IF NOT ShortOnMarket AND tradingtime and value1 THEN

  1 2	IF NOT LongOnMarket AND tradingtime and value2 THEN IF NOT ShortOnMarket AND tradingtime and value1 THEN

  use VALUE1 and VALUE2 as boolean variables, but they are NOT boolean variables as they are prices (high and low), so they will ALWAYS be true.

  Can you explain what’s their purpose?

  Moreover, the lines:

  IF OnMarket THEN SET STOP LOSS StopLoss ENDIF . . . IF OnMarket THEN SET STOP LOSS StopLoss1 ENDIF

  1 2 3 4 5 6 7 8 9

  IF OnMarket THEN    SET STOP LOSS StopLoss ENDIF . . . IF OnMarket THEN    SET STOP LOSS StopLoss1 ENDIF

  will always be BOTH executed. Since they are read and executed sequentially, the last one written in the code will override all prior SET STOP LOSS instruction; in this case only StopLoss1 will always be the real stop loss.

  You should make them different by executing one of them for LONG trades and the other one for SHORT trades, this way:

  IF LongOnMarket THEN SET STOP LOSS StopLoss SET TARGET PROFIT StopLoss * 3 //1:3 ratio ENDIF . . . IF ShortOnMarket THEN SET STOP LOSS StopLoss1 SET TARGET PROFIT StopLoss1 * 3 //1:3 ratio ENDIF

  1 2 3 4 5 6 7 8 9 10 11

  IF LongOnMarket THEN    SET STOP LOSS StopLoss    SET TARGET PROFIT StopLoss * 3   //1:3 ratio ENDIF . . . IF ShortOnMarket THEN    SET STOP LOSS StopLoss1    SET TARGET PROFIT StopLoss1 * 3  //1:3 ratio ENDIF

  I also added the SET STOP PROFIT to 1:3 ratio, which you can change as best suits you.

   

   

  

  robertogozzi

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  07/14/2025 at 11:15 PM #248877
  crolakstrading

  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 ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF LongOnMarket THEN SET STOP LOSS StopLoss SET TARGET PROFIT StopLoss * 3 //1:3 ratio ENDIF // Conditions to enter Short positions IF NOT ShortOnMarket AND tradingtime THEN SEllSHORT 1 CONTRACTS AT EntryPrice1 STOP ENDIF IF ShortOnMarket THEN SET STOP LOSS StopLoss1 SET TARGET PROFIT StopLoss1 * 3 //1:3 ratio ENDIF //************************************************************************ //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 //************************************************************************

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71

  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   ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF LongOnMarket THEN SET STOP LOSS StopLoss SET TARGET PROFIT StopLoss * 3   //1:3 ratio ENDIF   // Conditions to enter Short positions IF NOT ShortOnMarket AND tradingtime THEN SEllSHORT 1 CONTRACTS AT EntryPrice1 STOP ENDIF IF ShortOnMarket THEN SET STOP LOSS StopLoss1 SET TARGET PROFIT StopLoss1 * 3  //1:3 ratio ENDIF   //************************************************************************ //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 Roberto,

  Thank you very much as always. 🙂

  I think I have removed everything and made it a bit clearer. Removed  VALUE1 and VALUE2 

  Can I ask, If one of the orders got triggers long or short, will this not cancel the other order? Let’s say if the long order got triggered, short order should be cancelled and the long order SL should be the same within that tradingtime right?

  if not both orders will get trigger. if the long order get triggered aggressively and hit the SL then short order will get triggered at the same time. is there a way to stop this?

  

  crolakstrading

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  07/15/2025 at 10:29 AM #248885
  robertogozzi

  Line 3 could simply read:

  tradingtime=090000

  1	tradingtime=090000

  To make sure pending orders not triggered are not placed again (they are automatically cancelled each bar, so you simply have to stop placing them when already at market), so replace both IF NOT LongOnMarket AND tradingtime THEN and IF NOT ShortOnMarket AND tradingtime THEN by:

  IF NOT OnMarket AND tradingtime THEN

  1	IF NOT OnMarket AND tradingtime THEN

  As to “if not both orders will get trigger. if the long order get triggered aggressively and hit the SL then short order will get triggered at the same time. is there a way to stop this?” the answer is NO, you can’t. If a pending order is triggered and hits the SL, the other order may also be triggered on the same bar, as all pending orders that haven’t been triggered are only cancelled when a bar closes.

   

  

  robertogozzi

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  07/15/2025 at 5:50 PM #248892
  crolakstrading

  Thank you Roberto for your kind help.

  kinda makes sense now. I will still keep the time range, as I like to work with different time ranges. I really appreciate your help and sharing of knowledge!

  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 ENDIF // Conditions to enter long positions IF NOT OnMarket AND tradingtime THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF LongOnMarket THEN SET STOP LOSS StopLoss SET TARGET PROFIT StopLoss * 3 //1:3 ratio ENDIF // Conditions to enter Short positions IF NOT OnMarket AND tradingtime THEN SEllSHORT 1 CONTRACTS AT EntryPrice1 STOP ENDIF IF ShortOnMarket THEN SET STOP LOSS StopLoss1 SET TARGET PROFIT StopLoss1 * 3 //1:3 ratio ENDIF //************************************************************************ //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 //************************************************************************

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71

  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   ENDIF // Conditions to enter long positions IF NOT OnMarket AND tradingtime THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF LongOnMarket THEN SET STOP LOSS StopLoss SET TARGET PROFIT StopLoss * 3   //1:3 ratio ENDIF   // Conditions to enter Short positions IF NOT OnMarket AND tradingtime THEN SEllSHORT 1 CONTRACTS AT EntryPrice1 STOP ENDIF IF ShortOnMarket THEN SET STOP LOSS StopLoss1 SET TARGET PROFIT StopLoss1 * 3  //1:3 ratio ENDIF   //************************************************************************ //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 //************************************************************************

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  crolakstrading

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