moving sell or buy stop (not trailing stop)
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Hi, Would appreciate anyone that can help on this.
So I have the following buy code,
IF NOT LongOnMarket AND LongEntry THEN BUY 1 CONTRACTS AT MARKET set stop ploss longSL ENDIFLongEntry is the event with lime green background color and the first one is my buy position with a 9.1 pips stop loss. As you can see, there will be multiple events of LongEntry, and each one there’s a corresponding “LongSL” drawn with a segment and pips measure (i.e. 4.8, 4.4 and 4.8.
What I want to do is to either to get the lowest LongSL in this case, 4.4pips (longSL can also be calculated as a price) OR get the latest LongSL – the 4.8pips or 104.066 – as my exit signal. I cannot use a trailing stop loss because I work with guaranteed sto loss which are normally farther than my LongSL price. Is there a possible solution to this? Im thinking of a counter of the event so I can get the latest one but I dont know how to do it.
thanks for anyone who find time to reply.
Apology if I provide confusion for adding the PriceSL, it is not on my original code but added since I realized that the new exit cannot be based on pips but price
Tenkan =(highest[9](high)+lowest[9](low))/2 DonchianDown=LOWEST[20](LOW[1]) LongEntry=Close crossses over Tenkan ShortEntry= Close crossses under Tenkan LongSL=(Close-DonchianDown)/pipsize and LongEntry PriCeSL=(Close-DonchianDown) and LongEntry IF NOT LongOnMarket AND LongEntry THEN BUY 1 CONTRACTS AT MARKET set stop ploss longSL endif //this is the one I don’t know how to solve. movingSL= If LongOnMarket AND ShortEntry and movingSL THEN SELL AT MARKET ENDIF ENDIFso from the above, what I am trying to find is to have another exit point (MovingSL). I will exit my position if the Price crossess under movingSL
I intended to have the MovingSL as either:
- the highest (correction from my initial post) of the previous PriceSL that happne
- OR the latest one PriceSL recorded.
From the attahcment you can see, 4 events of the PriceSL. The first one is my entry point (LongEntry).
In both option since highest is also the latest PriceSL on this picture, exit pooint should be earlier at 104.066 and not on 104.041 which is the set stop loss.
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Topic Details
| Forum: | ProOrder: Automated Strategies & Backtesting |
| Language: | English |
| Started: | 12/13/2020 |
| Status: | Active |
| Attachments: | 2 files |
