Code trailing stop like “set stop ptrailing x”

• 06/07/2023 at 2:28 PM #215760
  phoentzs

  Is it actually possible to somehow combine the “set stop ptrailing x” function and a coded trailing stop (e.g. Nicolas coded trailing stop)? The advantage of the “set stop ptrailing x” variant is that it follows the price at a distance when it makes big jumps in the right direction. The coded version doesn’t do that. The advantage of the coded variant is that when the price stagnates above a certain level, it still secures profits and closes the sack.
  Is it possible to code a coded trailing stop that secures large price jumps faster and still secures profits when the price stagnates? Only then just slower and time-based?

  Or is there something like this already and I haven’t found it yet?

  

  phoentzs

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  06/07/2023 at 2:33 PM #215762
  Nicolas

  I found this “trailing stop IG style” in my snippets chest:

  StopLoss = 23 //StopLoss size TrailingStopStart = 0 //Trailing Stop start at X points in profit buystoploss = close-StopLoss*pointsize sellstoploss = close+StopLoss*pointsize if not onmarket then ibuystoploss=buystoploss isellstoploss=sellstoploss endif if longonmarket then //checking and adjusting stoploss if close-tradeprice>=trailingstopstart*pointsize then ibuystoploss = max(ibuystoploss,high-(stoploss+trailingstopstart)*pointsize) endif //set the stoploss level sell at ibuystoploss stop endif if shortonmarket then //checking and adjusting stoploss if tradeprice-close>=trailingstopstart*pointsize then isellstoploss = min(isellstoploss,low+(stoploss+trailingstopstart)*pointsize) endif //set the stoploss level exitshort at isellstoploss stop endif

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  StopLoss          = 23      //StopLoss size TrailingStopStart = 0      //Trailing Stop start at X points in profit buystoploss = close-StopLoss*pointsize sellstoploss = close+StopLoss*pointsize if not onmarket then ibuystoploss=buystoploss isellstoploss=sellstoploss endif if longonmarket then //checking and adjusting stoploss if close-tradeprice>=trailingstopstart*pointsize then   ibuystoploss = max(ibuystoploss,high-(stoploss+trailingstopstart)*pointsize) endif //set the stoploss level   sell at ibuystoploss stop endif if shortonmarket then //checking and adjusting stoploss if tradeprice-close>=trailingstopstart*pointsize then   isellstoploss = min(isellstoploss,low+(stoploss+trailingstopstart)*pointsize) endif //set the stoploss level exitshort at isellstoploss stop endif

  

  Nicolas

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  06/07/2023 at 3:04 PM #215767
  phoentzs

  Oh, interesting code. Thanks, I will test the function tonight.

  

  phoentzs

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  06/08/2023 at 4:36 PM #215870
  phoentzs

  I have to say it works great. 👍🏼 Can this code be supplemented with another trailing code? For example, that at a certain point when the price stagnates, steps will continue to be secured? For example, if 40 points are in profit but the price is going in the opposite direction, the code closes the sack by still securing more steps.

  

  phoentzs

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  06/08/2023 at 6:39 PM #215879
  phoentzs

  Maybe hard to put into words… Let’s take an example:

  buy at 1000

  the price goes up to 1050

  the IG trail with setting 25 saves 25 pips

  a normal trail that gradually saves 1 pip from 25 has at 1050 depending on the time, a few points secured

   

  Now the price drops back down to 1000 and we have a few points on the normal trail and 25 on the IG trail as a win.

  But if, and that’s my point, the price fluctuates around 1050, the IG trail always remains at 25 secured points, but the normal trail gradually secures up to 50 points at best. Now the question… is there any way to combine the benefits of both codes?

  

  phoentzs

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  09/21/2023 at 2:58 PM #221394
  Wim

  I might be wrong @Nicolas, but this IG style trailing stop could surprise you. Suppose a strategy that enters into position long after a serious gap down. The last candle with status NOT ONMARKET will assign a value to ibuystoploss of e.g. 110. The entry at the open of the next candle (with gap down) is at 90, and the close of this candle is 100. With values of StopLoss=10 and TrailingStopStart=0, the assignment of ibuystoploss at the close of the entry candle will be 110 (the last assigned value in NOT ONMARKET status). A pending order SELL AT 110 STOP will be launched, while the actual price is around 100, lower!
  Second, small remark: the distance at which the trailing stop is following the price is not StopLoss but StopLoss+TrailingStopStart. Why is that?

  

  Wim

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  09/21/2023 at 4:17 PM #221398
  Nicolas

  You have to use:

  buystoploss = close–StopLoss*pointsize

  sellstoploss = close+StopLoss*pointsize

  when you enter at market, in order to anchor the first stoploss to the Close of the candlestick. Then the trailingstop code will do the rest. If you don’t want to enter on a gap, include a condition in your entry decision tree.

  

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  09/21/2023 at 7:15 PM #221408
  Wim

  Sorry @Nicolas, I wasn’t clear. I pointed out a situation, very particular I admit, that is not handled correctly by this code. If you enter long at the open of a bullish candle that immediately triggers the start of the trailing stop, you might end up with a pending sell order ABOVE the actual price. This will be the case if the candle immediately preceding the entry candle closed more than the starting distance above the entry candle.

  I will post alternative code that doesn’t have this problem. In my code the equivalent of TrailingStartStop is not added to the following distance.

  

  Wim

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  09/21/2023 at 7:22 PM #221409
  Wim

  OK, here is my alternative for a trailing stop following at a fixed distance. Like the original IG version only 2 inputs: tsDistance = fixed distance at which the trailing will be done, and tsStart = number of points in profit that will activate the trailing.

   

  Trailing stop following at fixed distance

  tsDistance = 40 // Trailing Stop following at fixed distance tsStart = 0 // Trailing Stop start at X points in profit if not onmarket then tsStarted = 0 endif if longonmarket then if not tsStarted and close-tradeprice(1) >= tsStart*pointsize then tsStarted = 1 tsLong = high-tsDistance*pointsize // First trailing stop level endif if tsStarted then tsLong = max(tsLong, high-tsDistance*pointsize) // Next ts levels endif sell at tsLong stop endif if shortonmarket then if not tsStarted and tradeprice(1)-close >= tsStart*pointsize then tsStarted = 1 tsShort = low+tsDistance*pointsize // First trailing stop level endif if tsStarted then tsShort = max(tsShort, low+tsDistance*pointsize) // Next ts levels endif exitshort at tsShort stop endif

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  tsDistance = 40 // Trailing Stop following at fixed distance tsStart    = 0  // Trailing Stop start at X points in profit if not onmarket then tsStarted = 0 endif if longonmarket then if not tsStarted and close-tradeprice(1) >= tsStart*pointsize then tsStarted = 1 tsLong = high-tsDistance*pointsize // First trailing stop level endif if tsStarted then tsLong = max(tsLong, high-tsDistance*pointsize) // Next ts levels endif sell at tsLong stop endif if shortonmarket then if not tsStarted and tradeprice(1)-close >= tsStart*pointsize then tsStarted = 1 tsShort = low+tsDistance*pointsize // First trailing stop level endif if tsStarted then tsShort = max(tsShort, low+tsDistance*pointsize) // Next ts levels endif exitshort at tsShort stop endif

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  GraHal

  

  Wim

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  09/21/2023 at 7:27 PM #221410
  Wim

  Fun fact: you can enter a negative number as tsStart! Suppose you normally have your initial StopLoss at 20 points, you could enter tsStart = -20. The effect being that the trailing will start immediately at your initial StopLoss-level.
  Screen captures with tsStart = 0 and one with tsStart = -20

  

  Wim

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  09/24/2023 at 7:44 PM #221527
  Suffi

  How does it work when

  defparam cumulateorders=true

  ???

  

  Suffi

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  09/25/2023 at 7:43 AM #221536
  Nicolas

  If you cumulate orders, you should use POSITIONPRICE instead of TRADEPRICE to place your STOP orders.

  POSITIONPRICE returns the average open price of orders.

  

  Nicolas

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  09/25/2023 at 12:49 PM #221554
  Suffi

  Hello,
  Example:
  first buy 100, SL 70 points lower (SL set at 30).
  The price drops to 50 and you buy one Lot, gives a position price of 75.
  Now also the SL also drops 25 points down?
  How does it look if further positions are bought?

  Greets
  Suffi

  

  Suffi

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