How to set a fixed stop and limit

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  • 07/12/2018 at 11:55 AM #75864 quote
    foxfutures
    Participant
    New

    Hi there!

    Just arrived as a new member. Hoping to get an answer to my question. I trade Forex on 3 hrs timeframes at fixed times: 7 am and 10 am.

    I wonder how I could set a fixed stop of 7 pips below the second bar before the opening of the trade. For instance: when I open a trade at 10 am, I would like to set my stop 7 pips below the “low” of the 4 am bar.

    I hope anyone can help me out!

    Thanks in advance!

    07/12/2018 at 2:11 PM #75875 quote
    robertogozzi
    Moderator
    Master
    IF YourConditions AND Not OnMarket THEN
   BUY 1 CONTRACT AT MARKET
   SET STOP PLOSS (abs(close - low[2]) / pipsize) + 7
ENDIF

    Since you cannot be sure the second previous bar is lower, this will set a SL anyway.

    07/13/2018 at 10:33 AM #75903 quote
    foxfutures
    Participant
    New

    Thank you very much! This helps me a lot.

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How to set a fixed stop and limit


ProOrder: Automated Strategies & Backtesting

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foxfutures @foxfutures Participant
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This topic contains 2 replies,
has 2 voices, and was last updated by foxfutures
7 years, 7 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 07/12/2018
Status: Active
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