Hi all,

Simple idea – if there is a large range move in a single bar in your trade direction, then, exit for profit.

DJI for example – if there is anything more than a 1000 (for example) point range in a single bar in your intended direction, then exit.

The idea of this would be you are looking for a large target range in a single bar, and wanting to exit with a stop value, and not at the end/close of the bar.

This prompt to exit might be on the first bar of entry, or, a couple of bars into the trade.

: – If it was on the first bar of the trade, it would be from the high to the positionprice being >=1000 points (positionprice and not open, as sometimes the trade is entered into with a stop, and not at market)

: – If it was on the second bar onwards of the trade, it would be from the high to the open of that bar being >=1000 points.

The exit command would be using stops, and not selling at market, to capture and not lose potential profit.

I hope how you can see that this is a different intended command to “set target profit 1000”.

A picture example of this is attached –  Daily1000.

The buyin was at 21523.7, and the high of the day was at 22783.7 – a 1260 point difference, without spread.

Now, on the same first daily bar, if I want to sell at that 1000 point gain (from positionprice entry point of 21523.7), I have tried

if longonmarket or not longonmarket then
sell at positionprice+1000 stop
endif

if longonmarket or not longonmarket then
sell at tradeprice+1000 stop
endif

if longonmarket or not longonmarket then
sell at positionprice+1000 limit 
endif 

if longonmarket or not longonmarket then
sell at tradeprice+1000 limit 
endif

and none of them do what I want – in this case, to sell out/exit with my wanted 1000 points, at 22523.7

The reason being that they are looking at the last value of positionprice/tradeprice from bars gone by, and not seeing the current entry value of 21523.7

Any ideas how I could do this?

For longs for example and an intended 1000 point capture, to:

: – If it is seen in the first bar – capture a 1000 point range from high to the entry positionprice of the same bar – and exit with a stop to capture the profit and not wait until the end of the bar.

and

: – If it is seen in the second bar onwards – capture a 1000 point range from high to open of the same bar  – and exit with a stop to capture the profit and not wait until the end of the bar.

Thanks,

Finning

Daily1000.jpg