Dynamic Stop Loss Code Help!

VN · 2019-12-17T12:12:31+00:00

Hi, I am having difficulty implementing a stop loss strategy, which is as follows: EXAMPLE on DAX I open a SHORT at 13,300 with an initial STOP LOSS = 10, so I will get stopped if price rises to 13,010. But then I want to say, IF price moves down to 12,990, then move the stop level from 13,010 down to 13,000. I then want to introduce a tiered approach such that, if Price reaches 12,950 (X), set stop loss at 12,970 (Y) Price reaches 12,930 (X), set stop loss at 12,960 (Y) I will use X and Y as variables to denote the Current Price and StopLoss levels which I can set based on certain conditions, but I am using fixed prices here to illustrate my point. I am using the SET STOP pLOSS X pTRAILING Y instruction to do the above, but this doesn’t work. Would be grateful if anyone can help with how I can code this simple example. Thanks!

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12/17/2019 at 1:12 PM #115064 quote
VN
Participant

Average
Hi, I am having difficulty implementing a stop loss strategy, which is as follows:

EXAMPLE on DAX

I open a SHORT at 13,300 with an initial STOP LOSS = 10, so I will get stopped if price rises to 13,010.

But then I want to say, IF price moves down to 12,990, then move the stop level from 13,010 down to 13,000.

I then want to introduce a tiered approach such that, if
1. Price reaches 12,950 (X), set stop loss at 12,970 (Y)
2. Price reaches 12,930 (X), set stop loss at 12,960 (Y)
I will use X and Y as variables to denote the Current Price and StopLoss levels which I can set based on certain conditions, but I am using fixed prices here to illustrate my point.

I am using the SET STOP pLOSS X pTRAILING Y instruction to do the above, but this doesn’t work.

Would be grateful if anyone can help with how I can code this simple example.

Thanks!
12/17/2019 at 6:13 PM #115114 quote

Vonasi
Moderator

Master

You will have better luck finding help with a strategy question if you post in the correct forum. ProBuilder is for indicators and ProOrder is for strategies. I will move your topic to the correct forum – please try to post in the correct forum with future topics.

I have also tidied up the HTML mess that was in your post.

12/17/2019 at 7:17 PM #115118 quote

VN
Participant

Average

ok thanks for moving the post. Was not sure where is best to post it, hopefully now it will now be visible to people :).

02/28/2020 at 12:18 PM #120743 quote

robertogozzi
Moderator

Legend

Sorry for being so late, I hope you have found a solution.

In case you haven’t… you’ll find the code you need, ready-made, from line 17 through line 56 at https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/.
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