help with limited time exposure to market

• 07/07/2021 at 1:26 AM #173266
  Mishap

  Hi Guys,

  I am looking to code some type of scalping, limited time exposure to market (5mins on a 5 second chart) the below code appears to be correct to me but when i run it the max time with it being a loss is still open. is there something wrong with the code?

  note i am running the SL code from forums as well & have a sell for TP & loss.

  any help is appreciated,

  //trailing stop function trailingstart = 3.5 //trailing will start @trailinstart points profit trailingstep = 1 //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 extrapip=2 if ONMARKET and barindex-tradeindex(1) > 60 and close > (tradeprice(1)+extrapip*pipsize) then sell at market endif extrapip1=2 if ONMARKET and barindex-tradeindex(1) > 60 and close < (tradeprice(1)-extrapip1*pipsize) then sell at market endif

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  //trailing stop function trailingstart = 3.5 //trailing will start @trailinstart points profit trailingstep = 1 //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   extrapip=2 if ONMARKET and barindex-tradeindex(1) > 60 and close > (tradeprice(1)+extrapip*pipsize) then sell at market endif   extrapip1=2 if ONMARKET and barindex-tradeindex(1) > 60 and close < (tradeprice(1)-extrapip1*pipsize) then sell at market endif

  

  Mishap

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  07/07/2021 at 6:49 AM #173267
  robertogozzi

  Lines 40-48 should read:

  extrapip=2 if LongONMARKET and barindex-tradeindex(1) > 60 and close > (tradeprice(1)+extrapip*pipsize) then sell at market endif extrapip1=2 if ShortONMARKET and barindex-tradeindex(1) > 60 and close < (tradeprice(1)-extrapip1*pipsize) then Exitshort at market endif

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  extrapip=2 if LongONMARKET and barindex-tradeindex(1) > 60 and close > (tradeprice(1)+extrapip*pipsize) then    sell at market endif extrapip1=2 if ShortONMARKET and barindex-tradeindex(1) > 60 and close < (tradeprice(1)-extrapip1*pipsize) then    Exitshort at market endif

  Your trailing stop is so tight that I am afraid it works only when backtesting.

  It doesn’t account for the minimum distance required by IG.

   

  

  robertogozzi

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