Closing non-profitable trades based on x-candles

• 10/25/2017 at 10:16 AM #50455
  jebus89

  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.

  

  jebus89

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

  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.

  

  Despair

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  10/25/2017 at 11:31 AM #50465
  jebus89

  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.

  

  jebus89

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

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

  

  Despair

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

  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

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  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

  

  robertogozzi

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