MFE Trailing Stop in % percentage

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03/24/2018 at 2:33 PM #66249 quote

Inertia

Participant

Master

Hi,

I was wondering how I could replace the vlue in pts by an “x%” instead from the MFE ?

//trailing stop
trailingstop = 20
 
//resetting variables when no trades are on market
if not onmarket then
 MAXPRICE = 0
 MINPRICE = close
 priceexit = 0
endif
 
//case SHORT order
if shortonmarket then
 MINPRICE = MIN(MINPRICE,close) //saving the MFE of the current trade
 if tradeprice(1)-MINPRICE>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then  
  priceexit = MINPRICE+trailingstop*pointsize //set the exit price at the MFE + trailing stop price level
 endif
endif
 
//case LONG order
if longonmarket then
 MAXPRICE = MAX(MAXPRICE,close) //saving the MFE of the current trade
 if MAXPRICE-tradeprice(1)>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then
  priceexit = MAXPRICE-trailingstop*pointsize //set the exit price at the MFE - trailing stop price level
 endif
endif
 
//exit on trailing stop price levels
if onmarket and priceexit>0 then
 EXITSHORT AT priceexit STOP
 SELL AT priceexit STOP
endif

03/24/2018 at 4:37 PM #66261 quote