How to change stop loss to break even

• 08/26/2019 at 10:07 AM #105555
  Pere

  I put normally a stop loss on my ProOrders. How can I change it’s value to zero after 2 or 3 candles (if I’m doing profit>x)?

  I tried following:

  sl=100 IF LONGONMARKET AND (BARINDEX-TRADEINDEX)>1 AND close>TRADEPRICE THEN sl=0 ENDIF SET STOP pLOSS sl

  1 2 3 4 5

  sl=100 IF LONGONMARKET AND (BARINDEX-TRADEINDEX)>1 AND close>TRADEPRICE THEN sl=0 ENDIF SET STOP pLOSS sl

   

  but it goes again to 100 if close<TRADEPRICE on the next candles.

  After switching from 100 to 0 I want to remain it there.

   

  

  Pere

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  08/26/2019 at 10:31 AM #105559
  Vonasi

  Pere – Please use the ‘Insert PRT Code’ button when posting code. i tidied it up for you. 🙂

  

  Vonasi

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  08/26/2019 at 10:34 AM #105560
  Vonasi

  The problem is that if a trade moves back into a loss then the conditions are not met so the stop loss returns.

  What you have coded is not a break even code but one that removes the stoploss completely. Use the search box to search for ‘BreakEven’ and there are plenty of topics with example code available.

  This should fix your code but perhaps it is not what you actually want:

  if not onmarket and (your entry conditions) then buy 1 contract at market sl=100 endif IF LONGONMARKET AND (BARINDEX-TRADEINDEX)>1 AND close>TRADEPRICE THEN sl=0 ENDIF SET STOP pLOSS sl

  1 2 3 4 5 6 7 8 9 10

  if not onmarket and (your entry conditions) then buy 1 contract at market sl=100 endif   IF LONGONMARKET AND (BARINDEX-TRADEINDEX)>1 AND close>TRADEPRICE THEN sl=0 ENDIF   SET STOP pLOSS sl

   

  

  Vonasi

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  08/26/2019 at 11:18 AM #105565
  Pere

  Thank you Vonasi. I was just preparing the question, but just in this moment I had a power outage of one hour, and I don’t know how the question was posted, but it was.

  

  Pere

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  08/26/2019 at 11:32 AM #105570
  Pere

  Thank you @Vonasi. Problem is solved with the instructions found on

  https://www.prorealcode.com/blog/learning/breakeven-code-automated-trading-strategy/

   

  

  Pere

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