I have created this strategy based on 2 time frames MACD on 2 hrs and Supertrend on 2 mins, its not working with me, I believe it needs to be corrected, could you please help in adjusting it.
// VARIABLES
SL = 4
stepfactor1 = 1
stepfactor2 = 0.25
RR = 2
timeframe(2 hour, updateonclose)
MCD = MACD[12,26,9](close)
timeframe(2 minutes)
DM = DEMA[14](close)
PST = Supertrend[2,10]
// Conditions to enter long positions
IF MCD > 0 AND DM CROSSES OVER PST THEN
BUY 1 CONTRACTS AT MARKET
SET STOP pLOSS SL //5
TP = RR * SL
SET TARGET pPROFIT TP //10
ENDIF
// Conditions to exit long positions
If DM CROSSES UNDER PST THEN
SELL AT MARKET
ENDIF
// Conditions to enter short positions
IF MCD < 0 AND DM CROSSES UNDER PST THEN
SELLSHORT 1 CONTRACTS AT MARKET
SET STOP pLOSS SL //5
TP = RR * SL
SET TARGET pPROFIT TP //10
ENDIF
// Conditions to exit short positions
IF DM CROSSES OVER PST THEN
EXITSHORT AT MARKET
ENDIF
// Stops and targets : Enter your protection stops and profit targets here
//====== Trailing Stop mechanism – start =====
trailingstart = (stepfactor1 * SL ) / pointsize
trailingstep = (stepfactor2 * SL ) / pointsize
//resetting variables when no trades are on market
if not onmarket then
priceexit = 0
endif
//case LONG order
if longonmarket then
//first move (breakeven)
IF priceexit=0 AND close-tradeprice(1) >= trailingstart*pointsize THEN
priceexit = tradeprice(1) + trailingstep*pointsize
ENDIF
//next moves
IF priceexit>0 THEN
P2 = close-priceexit >= trailingstart*pointsize
IF P2 THEN
priceexit = priceexit + trailingstep*pointsize
ENDIF
ENDIF
endif
//case SHORT order
if shortonmarket then
//first move (breakeven)
IF priceexit=0 AND tradeprice(1)-close >= trailingstart*pointsize THEN
priceexit = tradeprice(1) – trailingstep*pointsize
ENDIF
//next moves
IF priceexit>0 THEN
P2 = priceexit-close >= trailingstart*pointsize
IF P2 THEN
priceexit = priceexit – trailingstep*pointsize
ENDIF
ENDIF
endif
//exit on trailing stop price levels
if onmarket and priceexit>0 then
EXITSHORT AT priceexit STOP
SELL AT priceexit STOP
endif
//====== Trailing Stop mechanism – end =====
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