Closing non-profitable trades based on x-candles

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10/25/2017 at 10:16 AM #50455 quote

jebus89
Participant

Master

Hi all!

Im wondering if someone could help me with a, probably, small problem.

in one of my strategies i see that alot of the loosing trades never make any profit at all (meaning after trade is activated the market just keeps going down (long trades only)

Is there a way to code in the following: “If no profit has been made (if the trade does not go into profit-making) within X candles, stop trade” ?

edit: or maybe even better: “If trade has not generated X amounts of pips within X amounts of candles, close trade”

This could potentially save me from some of the stop losses! 🙂

Big thanks!

Edit: I think ive seen it on this forum before but now i cant find it. Is it possible to code the following: “If MFE >= 25 (or X) pips then stop trade if it falls below 0 pips in profit.” ?

In other words: if a trade goes to 50$ profit active trade, i dont want to see -50$ closed trade 🙂 If it goes to 50$ then to 0$ i want to close it there.

10/25/2017 at 10:36 AM #50458 quote

Despair
Blocked

Master

What you describe sounds like a trailing SL to me. If there is x amount of profit, set the SL to breakeven. There are several trailing SL codes in the forum, also using MFE.

10/25/2017 at 11:31 AM #50465 quote

jebus89
Participant

Master

Hi Despair, thanks for the reply.

So yea, it is indeed trailing stop, i just dont know how to code them.

Idea #1: “If trade has not generated X amounts of pips, within X amounts of candles, close trade”

Idea #2: “If there is x amount of profit, set the SL to breakeven.”

I know i’ve seen a post regarding idea #2, but i cant recall which post or what words i can use to search for it. I believe it was mixed in someones code for some strategy, no idea which one.

10/25/2017 at 12:12 PM #50469 quote

Despair
Blocked

Master

Nicolas posted a whole article on trailing SL. There you will find code you can use.

10/25/2017 at 12:34 PM #50487 quote
robertogozzi
Moderator

Legend
As for breakeven (Idea #2), there’s Nicolas‘s code here that is ready to be included in your code:https://www.prorealcode.com/blog/learning/breakeven-code-automated-trading-strategy/

As for Idea #1 you may try this one (I haven’t tested it):
```
ONCE MyPips = 5     //5  pips at least after...
ONCE MyBars = 20    //20 bars have elapsed
IF OnMarket THEN
   MyProfit = (close - tradeprice) * pipsize
   IF (MyProfit < MyPips) AND (BarIndex - TradeIndex) >= MyBars THEN
      SELL      AT MARKET  //close long trades as well as...
      EXITSHORT AT MARKET  //... short ones
   ENDIF
ENDIF
```
Roberto
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Closing non-profitable trades based on x-candles

ProOrder: Automated Strategies & Backtesting

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This topic contains 4 replies,
has 3 voices, and was last updated by robertogozzi
8 years, 11 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	10/25/2017
Status:	Active
Attachments:	No files