Increase position when trailing stop loss moves

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01/23/2023 at 9:48 PM #208025 quote

Mopefish
Participant

New

Hi All

I am reaching out for some help on coding, I want to find a way of doubling down on my position when the trailing stop loss is greater than open.

I had a go at using pips, ie when market price is X pips above entry then open new position, but not had much luck getting this to work.

Ideally I want the Stop loss to drive the entry and possibly be able to add a further condition.

ie

When my TSL is greater than market entry price by X then open new market position.

Max positions 2

thanks for your help.

Tom

01/24/2023 at 10:04 AM #208047 quote
robertogozzi
Moderator

Master
That’s an example:
```
DEFPARAM CumulateOrders = true
// .
// .         this is where your code is (no matter how many lines it takes)
// .
IF PositionPerf > 0 THEN
   BUY 1 CONTRACT AT MARKET   //or SELLSHORT 1 CONTRACT AT MARKET
ENDIF
// .
// .         you can write additional code here
// .
```
you may want to add some limit to the number of additional contracts to be traded (3 in this example):
```
IF (PositionPerf > 0) AND (abs(CountOfPosition) < 3) THEN
```
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Increase position when trailing stop loss moves

General Trading: Market Analysis & Manual Trading

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Mopefish @mopefish Participant

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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
3 years ago.

Topic Details

Forum:	General Trading: Market Analysis & Manual Trading
Language:	English
Started:	01/23/2023
Status:	Active
Attachments:	No files

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