Moving Stop Loss
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@tboafo, here’s 3 different trailing stops you can try. All are very good, each will give different results. The first, by Nicolas is a good place to start and it includes a break even function. The others, by Paul and Roberto are more sophisticated. You’ll have to play around with the variables, obviously.
123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899100101102103104105106107108109110111112113114115116117118119120121122123124125126127128129130131132133134135136137138139140141142143144145146147148149150151152153154155156157158159160161162163164165166167168169170171172173174175176177178179180181182183184185186187188189190191192193194195196197198199200201202203204205206207208209210211212213214215216217218219220221222223224225226227//%trailing stop functiontrailingPercent = tststepPercent = stif onmarket thentrailingstart = tradeprice(1)*(trailingpercent/100) //trailing will start @trailingstart points profittrailingstep = tradeprice(1)*(stepPercent/100) //% step to move the stoplossendif//reset the stoploss valueIF NOT ONMARKET THENnewSL=0ENDIF//manage long positionsIF LONGONMARKET THEN//first move (breakeven)IF newSL=0 AND close-tradeprice(1)>=trailingstart THENnewSL = tradeprice(1)+trailingstepENDIF//next movesIF newSL>0 AND close-newSL>trailingstep THENnewSL = newSL+trailingstepENDIFENDIF//manage short positionsIF SHORTONMARKET THEN//first move (breakeven)IF newSL=0 AND tradeprice(1)-close>=trailingstart THENnewSL = tradeprice(1)-trailingstepENDIF//next movesIF newSL>0 AND newSL-close>trailingstep THENnewSL = newSL-trailingstepENDIFENDIF//stop order to exit the positionsIF newSL>0 THENSELL AT newSL STOPEXITSHORT AT newSL STOPENDIF//****************************************************************************************// trailing stop atronce trailingstoptype = 1 // trailing stop - 0 off, 1 ononce tsincrements = st // typically between 0 and 0.25once tsminatrdist = tsm // typically between 1 and 4once tsatrperiod = 14 // ts atr parameteronce tsminstop = 5 // ts minimum stop distance, set to IG min valueonce tssensitivity = 1 // [0]close;[1]high/lowif trailingstoptype thenif barindex=tradeindex thentrailingstoplong = tst // ts atr distance, typically between 4 and 10trailingstopshort = tst // ts atr distance, typically between 4 and 10elseif longonmarket thenif tsnewsl>0 thenif trailingstoplong>tsminatrdist thenif tsnewsl>tsnewsl[1] thentrailingstoplong=trailingstoplongelsetrailingstoplong=trailingstoplong-tsincrementsendifelsetrailingstoplong=tsminatrdistendifendifendifif shortonmarket thenif tsnewsl>0 thenif trailingstopshort>tsminatrdist thenif tsnewsl<tsnewsl[1] thentrailingstopshort=trailingstopshortelsetrailingstopshort=trailingstopshort-tsincrementsendifelsetrailingstopshort=tsminatrdistendifendifendifendiftsatr=averagetruerange[tsatrperiod]((close/10)*pipsize)/1000//tsatr=averagetruerange[tsatrperiod]((close/1)*pipsize) // (forex)tgl=round(tsatr*trailingstoplong)tgs=round(tsatr*trailingstopshort)if not onmarket or ((longonmarket and shortonmarket[1]) or (longonmarket[1] and shortonmarket)) thentsmaxprice=0tsminprice=closetsnewsl=0endifif tssensitivity thentssensitivitylong=hightssensitivityshort=lowelsetssensitivitylong=closetssensitivityshort=closeendifif longonmarket thentsmaxprice=max(tsmaxprice,tssensitivitylong)if tsmaxprice-tradeprice(1)>=tgl*pointsize thenif tsmaxprice-tradeprice(1)>=tsminstop thentsnewsl=tsmaxprice-tgl*pointsizeelsetsnewsl=tsmaxprice-tsminstop*pointsizeendifendifendifif shortonmarket thentsminprice=min(tsminprice,tssensitivityshort)if tradeprice(1)-tsminprice>=tgs*pointsize thenif tradeprice(1)-tsminprice>=tsminstop thentsnewsl=tsminprice+tgs*pointsizeelsetsnewsl=tsminprice+tsminstop*pointsizeendifendifendifif longonmarket thenif tsnewsl>0 thensell at tsnewsl stopendifif tsnewsl>0 thenif low crosses under tsnewsl thensell at market // when stop is rejectedendifendifendifif shortonmarket thenif tsnewsl>0 thenexitshort at tsnewsl stopendifif tsnewsl>0 thenif high crosses over tsnewsl thenexitshort at market // when stop is rejectedendifendifendifendif//**********************************************************************************//Roberto TSIF Not OnMarket THEN//// when NOT OnMarket reset values to default values//TrailStart = 30 //30 Start trailing profits from this pointBasePerCent = 0.200 //20.0% Profit percentage to keep when setting BerakEvenStepSize = 10 //10 Pip chunks to increase PercentagePerCentInc = 0.100 //10.0% PerCent increment after each StepSize chunkRoundTO = -0.5 //-0.5 rounds always to Lower integer, +0.4 rounds always to Higher integer, 0 defaults PRT behaviourPriceDistance = 7 * pipsize //7 minimun distance from current pricey1 = 0 //reset to 0y2 = 0 //reset to 0ProfitPerCent = BasePerCent //reset to desired default valueELSIF LongOnMarket AND close > (TradePrice + (y1 * pipsize)) THEN //LONG positions//// compute the value of the Percentage of profits, if any, to lock in for LONG trades//x1 = (close - tradeprice) / pipsize //convert price to pipsIF x1 >= TrailStart THEN // go ahead only if N+ pipsDiff1 = abs(TrailStart - x1) //difference from current profit and TrailStartChunks1 = max(0,round((Diff1 / StepSize) + RoundTO)) //number of STEPSIZE chunksProfitPerCent = BasePerCent + (BasePerCent * (Chunks1 * PerCentInc)) //compute new size of ProfitPerCentProfitPerCent = max(ProfitPerCent[1],min(100,ProfitPerCent)) //make sure ProfitPerCent doess not exceed 100%y1 = max(x1 * ProfitPerCent, y1) //y1 = % of max profitENDIFELSIF ShortOnMarket AND close < (TradePrice - (y2 * pipsize)) THEN //SHORT positions//// compute the value of the Percentage of profits, if any, to lock in for SHORT trades//x2 = (tradeprice - close) / pipsize //convert price to pipsIF x2 >= TrailStart THEN // go ahead only if N+ pipsDiff2 = abs(TrailStart - x2) //difference from current profit and TrailStartChunks2 = max(0,round((Diff2 / StepSize) + RoundTO)) //number of STEPSIZE chunksProfitPerCent = BasePerCent + (BasePerCent * (Chunks2 * PerCentInc)) //compute new size of ProfitPerCentProfitPerCent = max(ProfitPerCent[1],min(100,ProfitPerCent)) //make sure ProfitPerCent doess not exceed 100%y2 = max(x2 * ProfitPerCent, y2) //y2 = % of max profitENDIFENDIFIF y1 THEN //Place pending STOP order when y1 > 0 (LONG positions)SellPrice = Tradeprice + (y1 * pipsize) //convert pips to price//// check the minimun distance between ExitPrice and current price//IF abs(close - SellPrice) > PriceDistance THEN//// place either a LIMIT or STOP pending order according to current price positioning//IF close >= SellPrice THENSELL AT SellPrice STOPELSESELL AT SellPrice LIMITENDIFELSE////sell AT MARKET when EXITPRICE does not meet the broker's minimun distance from current price//SELL AT MarketENDIFENDIFIF y2 THEN //Place pending STOP order when y2 > 0 (SHORT positions)ExitPrice = Tradeprice - (y2 * pipsize) //convert pips to price//// check the minimun distance between ExitPrice and current price//IF abs(close - ExitPrice) > PriceDistance THEN//// place either a LIMIT or STOP pending order according to current price positioning//IF close <= ExitPrice THENEXITSHORT AT ExitPrice STOPELSEEXITSHORT AT ExitPrice LIMITENDIFELSE////ExitShort AT MARKET when EXITPRICE does not meet the broker's minimun distance from current price//EXITSHORT AT MarketENDIFENDIF3 users thanked author for this post.
Link to above 3 x TS added as Log 224 here …
I added a Note that Code Authors are Nicolas, Paul and Roberto
2 users thanked author for this post.
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