Different stoploss first few bars

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07/01/2021 at 2:04 PM #172883 quote

ausrod
Participant

New

I am wondering how to code a system that allows me to set a stop loss tight in case market goes against me first 1-3 bars after i execute my order, then change it to a larger one after that. I am cureently using the excellent nicolas trailing stop – the MFE version.

Although i didn’t write it obviously this seems to execute sell or sellshort rather than changing the stop ie it doesnt actually set a trailing or other stop.

I have tried with a variable that resets as it cycles but im not sure this is the best way?

07/01/2021 at 2:25 PM #172886 quote
robertogozzi
Moderator

Master
There you go. You need to set SL1 (tigther SL) and SL2 (the greater one) and the number of bars (N):
```
SL1 = 20   //initial SL
SL2 = 50   //larger SL
N   = 3    //number of bars to keep the tighter SL
IF MyLongConditions AND NotOnMarket THEN
   BUY 1 CONTRACT AT MARKET
   SET STOP pLOSS SL1
   Count = 1
ENDIF
IF OnMarket AND Count > 0 THEN
   Count = Count + 1
   IF Count > N THEN
      SET STOP pLOSS SL2 //Switch to a larger SL after N bars
      Count = 0
   ENDIF
ENDIF
```
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Different stoploss first few bars

ProOrder: Automated Strategies & Backtesting

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ausrod @ausrod Participant

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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
4 years, 7 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	07/01/2021
Status:	Active
Attachments:	No files

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