Is it possible to set a 2nd exit?

• 02/12/2024 at 11:55 AM #227983
  Brad

  Good day All

  I am using a code provided by Nicolas to adjust my exit when the price has moved a set number of points. Breakeven code for your automated trading strategy – Learning – ProRealTime (prorealcode.com)

  Breakeven Code

  //When a trade has moved by a set number of points(60), the stop loss is moved to protect a set number of points(35): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (60 * PipSize) THEN AdjustMySL = 1 ENDIF ExitMyAdjustedLong = TradePrice[1] + 35 IF AdjustMySL THEN SELL AT ExitMyAdjustedLong STOP ENDIF IF NOT LongOnMarket THEN AdjustMySL = 0 ENDIF

  1 2 3 4 5 6 7 8 9 10 11 12 13 14

  //When a trade has moved by a set number of points(60), the stop loss is moved to protect a set number of points(35): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (60 * PipSize) THEN AdjustMySL = 1 ENDIF   ExitMyAdjustedLong = TradePrice[1] + 35   IF AdjustMySL THEN SELL AT ExitMyAdjustedLong STOP ENDIF   IF NOT LongOnMarket THEN AdjustMySL = 0 ENDIF

  Can I repeat this code with adjusted wording and values to adapt my exit should the price continue higher (long position)?

  Additional Move

  //When a trade has moved by a set number of points(60), the stop loss is moved to protect a set number of points(35): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (60 * PipSize) THEN AdjustMySL = 1 ENDIF ExitMyAdjustedLong = TradePrice[1] + 35 IF AdjustMySL THEN SELL AT ExitMyAdjustedLong STOP ENDIF IF NOT LongOnMarket THEN AdjustMySL = 0 ENDIF //Second Move //When a trade has moved by a set number of points(90), the stop loss is moved to protect a set number of points(50): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (90 * PipSize) THEN AdjustMySL2 = 1 ENDIF ExitMyAdjustedLong2 = TradePrice[1] + 50 IF AdjustMySL2 THEN SELL AT ExitMyAdjustedLong2 STOP ENDIF IF NOT LongOnMarket THEN AdjustMySL2 = 0 ENDIF

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

  //When a trade has moved by a set number of points(60), the stop loss is moved to protect a set number of points(35): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (60 * PipSize) THEN AdjustMySL = 1 ENDIF   ExitMyAdjustedLong = TradePrice[1] + 35   IF AdjustMySL THEN SELL AT ExitMyAdjustedLong STOP ENDIF   IF NOT LongOnMarket THEN AdjustMySL = 0 ENDIF     //Second Move //When a trade has moved by a set number of points(90), the stop loss is moved to protect a set number of points(50): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (90 * PipSize) THEN AdjustMySL2 = 1 ENDIF   ExitMyAdjustedLong2 = TradePrice[1] + 50   IF AdjustMySL2 THEN SELL AT ExitMyAdjustedLong2 STOP ENDIF   IF NOT LongOnMarket THEN AdjustMySL2 = 0 ENDIF

  I realize a trailing SL can be used, but I would like to know if the above coding is possible and, if so, if it is coded correctly.

   

  Thanks

  Brad

  

  Brad

  Participant

  Topics: 8

  Replies: 20

  Been thanked: 2 times
  02/12/2024 at 12:13 PM #227990
  robertogozzi

  It’s almost correct.

  Replace line 2 with:

  IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (60 * PipSize) AND AdjustMySL = 0 THEN

  1	IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (60 * PipSize) AND AdjustMySL = 0 THEN

  and replace line 19 with:

  IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (90 * PipSize) AND AdjustMySL2 = 0 THEN

  1	IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (90 * PipSize) AND AdjustMySL2 = 0 THEN

  to prevent the first move from being executed again AFTER move two has been triggered.

  replace also line 8 with:

  IF AdjustMySL AND AdjustMySL2 = 0 THEN

  1	IF AdjustMySL AND AdjustMySL2 = 0 THEN

  for the same reason.

   

  1 user thanked author for this post.

  Brad

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16469

  Been thanked: 3643 times
  02/12/2024 at 9:20 PM #228018
  Brad

  Thanks, Roberto! I’ll give it a shot and let you know how it goes.

  Brad

  

  Brad

  Participant

  Topics: 8

  Replies: 20

  Been thanked: 2 times
  02/25/2024 at 3:02 PM #228717
  Brad

  Hi Roberto

  I have applied the corrections you pointed out. Thank you.

  I have now applied the same logic to include a third exit. Do you mind checking if I have written this code correctly, please?

  I have also applied a trailing stop as an additional exit condition. Is the code correct in saying that if the price reaches 500 points, a trailing stop of 100 points will start? So if the price moves from 1000 to 1500 and then reverses, the price will exit at 1400?

  //First Move 100/50 //When a trade has moved by a set number of points(100), the stop loss is moved to protect a set number of points(50): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (100 * PipSize) AND AdjustMySL1 = 0 THEN AdjustMySL1 = 1 ENDIF ExitMyAdjustedLong = TradePrice[1] + 50 IF (AdjustMySL1 = 1) AND (AdjustMySL2 = 0) AND (AdjustMySL3 = 0) THEN SELL AT ExitMyAdjustedLong STOP ENDIF IF NOT LongOnMarket THEN AdjustMySL1 = 0 ENDIF //Second Move 200/100 //When a trade has moved by a set number of points(200), the stop loss is moved to protect a set number of points(100): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (200 * PipSize) AND AdjustMySL2 = 0 THEN AdjustMySL2 = 1 ENDIF ExitMyAdjustedLong2 = TradePrice[1] + 100 IF (AdjustMySL2 = 1) AND (AdjustMySL1 = 0) AND (AdjustMySL3 = 0) THEN SELL AT ExitMyAdjustedLong2 STOP ENDIF IF NOT LongOnMarket THEN AdjustMySL2 = 0 ENDIF //Third Move 300/150 //When a trade has moved by a set number of points(300), the stop loss is moved to protect a set number of points(150): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (300 * PipSize) AND AdjustMySL3 = 0 THEN AdjustMySL3 = 1 ENDIF ExitMyAdjustedLong3 = TradePrice[1] + 150 IF (AdjustMySL3 = 1) THEN SELL AT ExitMyAdjustedLong3 STOP ENDIF IF NOT LongOnMarket THEN AdjustMySL3 = 0 ENDIF //Trailing Stop. If Price reaches 500 points, a trailing SL of 100 points will trigger. IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (500 * PipSize) THEN SET STOP PTRAILING 100 ENDIF

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53

  //First Move 100/50 //When a trade has moved by a set number of points(100), the stop loss is moved to protect a set number of points(50): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (100 * PipSize) AND AdjustMySL1 = 0 THEN AdjustMySL1 = 1 ENDIF   ExitMyAdjustedLong = TradePrice[1] + 50   IF (AdjustMySL1 = 1) AND (AdjustMySL2 = 0) AND (AdjustMySL3 = 0) THEN SELL AT ExitMyAdjustedLong STOP ENDIF   IF NOT LongOnMarket THEN AdjustMySL1 = 0 ENDIF   //Second Move 200/100 //When a trade has moved by a set number of points(200), the stop loss is moved to protect a set number of points(100): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (200 * PipSize) AND AdjustMySL2 = 0 THEN AdjustMySL2 = 1 ENDIF   ExitMyAdjustedLong2 = TradePrice[1] + 100   IF (AdjustMySL2 = 1) AND (AdjustMySL1 = 0) AND (AdjustMySL3 = 0) THEN SELL AT ExitMyAdjustedLong2 STOP ENDIF   IF NOT LongOnMarket THEN AdjustMySL2 = 0 ENDIF   //Third Move 300/150 //When a trade has moved by a set number of points(300), the stop loss is moved to protect a set number of points(150): IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (300 * PipSize) AND AdjustMySL3 = 0 THEN AdjustMySL3 = 1 ENDIF   ExitMyAdjustedLong3 = TradePrice[1] + 150   IF (AdjustMySL3 = 1) THEN SELL AT ExitMyAdjustedLong3 STOP ENDIF   IF NOT LongOnMarket THEN AdjustMySL3 = 0 ENDIF     //Trailing Stop. If Price reaches 500 points, a trailing SL of 100 points will trigger. IF LongOnMarket AND (CLOSE - TradePrice[1]) >= (500 * PipSize) THEN SET STOP PTRAILING 100 ENDIF

   

  

  Brad

  Participant

  Topics: 8

  Replies: 20

  Been thanked: 2 times
  02/26/2024 at 11:19 AM #228756
  robertogozzi

  It’s almost correct.

  TradePrice[1], despite it may work in some cases, should be replaced by:

  TradePrice(1) //or simply TradePrice

  1	TradePrice(1)  //or simply TradePrice

  then I changed the first 5 lines and one of the IF….

  IF NOT LongOnMarket THEN AdjustMySL1 = 0 AdjustMySL2 = 0 AdjustMySL3 = 0 ENDIF //First Move 100/50 //When a trade has moved by a set number of points(100), the stop loss is moved to protect a set number of points(50): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (100 * PipSize) AND AdjustMySL1 = 0 THEN AdjustMySL1 = 1 ENDIF ExitMyAdjustedLong = TradePrice(1) + 50 IF (AdjustMySL1 = 1) AND (AdjustMySL2 = 0) AND (AdjustMySL3 = 0) THEN SELL AT ExitMyAdjustedLong STOP ENDIF //Second Move 200/100 //When a trade has moved by a set number of points(200), the stop loss is moved to protect a set number of points(100): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (200 * PipSize) AND AdjustMySL2 = 0 THEN AdjustMySL2 = 1 ENDIF ExitMyAdjustedLong2 = TradePrice(1) + 100 IF (AdjustMySL2 = 1) AND (AdjustMySL3 = 0) THEN SELL AT ExitMyAdjustedLong2 STOP ENDIF //Third Move 300/150 //When a trade has moved by a set number of points(300), the stop loss is moved to protect a set number of points(150): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (300 * PipSize) AND AdjustMySL3 = 0 THEN AdjustMySL3 = 1 ENDIF ExitMyAdjustedLong3 = TradePrice(1) + 150 IF (AdjustMySL3 = 1) THEN SELL AT ExitMyAdjustedLong3 STOP ENDIF //Trailing Stop. If Price reaches 500 points, a trailing SL of 100 points will trigger. IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (500 * PipSize) THEN SET STOP PTRAILING 100 ENDIF

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36

  IF NOT LongOnMarket THEN AdjustMySL1 = 0 AdjustMySL2 = 0 AdjustMySL3 = 0 ENDIF //First Move 100/50 //When a trade has moved by a set number of points(100), the stop loss is moved to protect a set number of points(50): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (100 * PipSize) AND AdjustMySL1 = 0 THEN AdjustMySL1 = 1 ENDIF ExitMyAdjustedLong = TradePrice(1) + 50 IF (AdjustMySL1 = 1) AND (AdjustMySL2 = 0) AND (AdjustMySL3 = 0) THEN SELL AT ExitMyAdjustedLong STOP ENDIF //Second Move 200/100 //When a trade has moved by a set number of points(200), the stop loss is moved to protect a set number of points(100): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (200 * PipSize) AND AdjustMySL2 = 0 THEN AdjustMySL2 = 1 ENDIF ExitMyAdjustedLong2 = TradePrice(1) + 100 IF (AdjustMySL2 = 1) AND (AdjustMySL3 = 0) THEN SELL AT ExitMyAdjustedLong2 STOP ENDIF //Third Move 300/150 //When a trade has moved by a set number of points(300), the stop loss is moved to protect a set number of points(150): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (300 * PipSize) AND AdjustMySL3 = 0 THEN AdjustMySL3 = 1 ENDIF ExitMyAdjustedLong3 = TradePrice(1) + 150 IF (AdjustMySL3 = 1) THEN SELL AT ExitMyAdjustedLong3 STOP ENDIF //Trailing Stop. If Price reaches 500 points, a trailing SL of 100 points will trigger. IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (500 * PipSize) THEN SET STOP PTRAILING 100 ENDIF

   

   

   

  1 user thanked author for this post.

  Brad

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16469

  Been thanked: 3643 times
  02/26/2024 at 4:05 PM #228773
  Brad

  Thanks, Roberto

  I’m assuming the “()” corrections and moving “AdjustMySL1 = 0 and AdjustMySL2 = 0” to the top of the code should be applied to my initial code as well?

   

  Updated  ‘additional move’ code:

  Updated initial code

  IF NOT LongOnMarket THEN AdjustMySL1 = 0 AdjustMySL2 = 0 ENDIF //When a trade has moved by a set number of points(60), the stop loss is moved to protect a set number of points(35): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (60 * PipSize) AND AdjustMySL1 = 0 THEN AdjustMySL1 = 1 ENDIF ExitMyAdjustedLong = TradePrice(1) + 35 IF AdjustMySL1 AND (AdjustMySL2 = 0) THEN SELL AT ExitMyAdjustedLong STOP ENDIF //Second Move //When a trade has moved by a set number of points(90), the stop loss is moved to protect a set number of points(50): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (90 * PipSize) AND AdjustMySL2 = 0 THEN AdjustMySL2 = 1 ENDIF ExitMyAdjustedLong2 = TradePrice(1) + 50 IF AdjustMySL2 THEN SELL AT ExitMyAdjustedLong2 STOP ENDIF

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

  IF NOT LongOnMarket THEN AdjustMySL1 = 0 AdjustMySL2 = 0 ENDIF   //When a trade has moved by a set number of points(60), the stop loss is moved to protect a set number of points(35): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (60 * PipSize) AND AdjustMySL1 = 0 THEN AdjustMySL1 = 1 ENDIF   ExitMyAdjustedLong = TradePrice(1) + 35   IF AdjustMySL1 AND (AdjustMySL2 = 0) THEN SELL AT ExitMyAdjustedLong STOP ENDIF   //Second Move //When a trade has moved by a set number of points(90), the stop loss is moved to protect a set number of points(50): IF LongOnMarket AND (CLOSE - TradePrice(1)) >= (90 * PipSize) AND AdjustMySL2 = 0 THEN AdjustMySL2 = 1 ENDIF   ExitMyAdjustedLong2 = TradePrice(1) + 50   IF AdjustMySL2 THEN SELL AT ExitMyAdjustedLong2 STOP ENDIF

   

   

  

  Brad

  Participant

  Topics: 8

  Replies: 20

  Been thanked: 2 times
  02/27/2024 at 5:48 AM #228795
  robertogozzi

  Yes, correct.

   

  1 user thanked author for this post.

  Brad

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16469

  Been thanked: 3643 times
• Author
  Posts