duration of a stoploss

• 07/16/2018 at 2:12 PM #76083
  immo_vienna

  hi guys!

  i read in some articles that an stoploss has an duration of 1 candle.

  so if i have the following code for automatic trading – the stoploss is only for 1 minute, 10 minutes, (depends on the timeframe)?

   

  //trailing stop function trailingstart = 20 //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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  //trailing stop function trailingstart = 20 //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

  @ this point: thx to nicolas for this system

  

  immo_vienna

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  07/16/2018 at 2:22 PM #76084
  robertogozzi

  STOP LOSS does not expire if you set it with ProOrder instructions (SET STOP LOSS,…..).

  PENDING ORDERS expire each bar (be it 1 second or 1 week) and need to be placed again if needed. Thus if you set your SL with a pending order (like Nicolas did in his code) it must be placed again if you still need it after each bar. Nicolas’code does this with lines 31-34.

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  immo_vienna

  

  robertogozzi

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  07/16/2018 at 2:22 PM #76085
  Vonasi

  Correct. LIMIT and STOP orders last for one bar only. So on a ten minute time frame it is for ten minutes. If you want the order kept on the market then reissue it at each candle close or use a SET instruction to place a stop or limit on the market at a set distance from the position price. A SET instrution only has to be issued once and keeps the order on the market until the position is closed. The SET distance can be changed at any bar close by placing a new SET instruction if you want to change the value.

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  immo_vienna

  

  Vonasi

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  07/16/2018 at 2:30 PM #76086
  immo_vienna

  how to write such SET instruction?

  

  immo_vienna

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  07/16/2018 at 2:36 PM #76088
  robertogozzi

  https://www.prorealcode.com/documentation/ploss/

   

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  immo_vienna

  

  robertogozzi

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  07/16/2018 at 2:40 PM #76089
  immo_vienna

  thx! all of u out there are amazing and i love this forum because u all are here!

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  Nicolas

  

  immo_vienna

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