Need a trailing stop loss that moves more dynamic

• 02/22/2018 at 1:06 PM #63514
  Barney

  When i place the usual SL instruction at the end of the code, it does not get any funktion.

  What am i doing wrong?

   

   
  <pre class=”lang:probuilder decode:true “>// trailing stop function
  trailingstep = 6 //5 trailing step to move the “stoploss” after BreakEven
  startBreakeven = 2 //5 pips in gain to activate the breakeven function
  PointsToKeep = 2 //3 pips to keep in profit above/below entry price when the breakeven is activated
  //
  //reset the stoploss value
  IF NOT ONMARKET THEN
  newSL = 0
  breakevenLevel = 0
  ENDIF
  //******************************************************************************************************
  // —– BREAKEVEN code
  //
  //reset the breakevenLevel when no trade are on market
  // — LONG side
  IF LONGONMARKET AND (close – tradeprice(1)) >= (startBreakeven * pipsize) AND breakevenlevel = 0 THEN
  breakevenLevel = tradeprice(1) + (PointsToKeep * pipsize) //calculate the breakevenLevel
  ENDIF
  // — SHORT side
  IF SHORTONMARKET AND (tradeprice(1) – close) >= (startBreakeven * pipsize) AND breakevenlevel = 0 THEN
  breakevenLevel = tradeprice(1) + (PointsToKeep * pipsize) //calculate the breakevenLevel
  ENDIF
  //Set new Stop Loss
  IF breakevenLevel > 0 THEN
  newSL = BreakEvenLevel
  ENDIF
  //******************************************************************************************************
  // —– TRAILING STOP code
  //
  //manage long positions
  IF LONGONMARKET AND BreakEvenLevel THEN
  //next moves after BreakEven
  IF newSL > 0 AND ((close – newSL) >= (trailingstep * pipsize)) THEN
  newSL = newSL + (trailingstep * pipsize)
  ENDIF
  ENDIF
  //manage short positions
  IF SHORTONMARKET AND BreakEvenLevel THEN
  //next moves after BreakEven
  IF newSL > 0 AND ((newSL – close) >= (trailingstep * pipsize)) THEN
  newSL = newSL – (trailingstep * pipsize)
  ENDIF
  ENDIF
  //stop order to exit the positions
  IF newSL > 0 THEN
  SELL AT newSL STOP
  EXITSHORT AT newSL STOP

  SET STOP LOSS 32
  ENDIF
   

  

  Barney

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  02/22/2018 at 3:59 PM #63540
  robertogozzi

  To write code, please use the <> “insert PRT code” button.

  Thank you.

   

  

  robertogozzi

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  02/22/2018 at 4:15 PM #63543
  robertogozzi

  You shouldn’t place your SL there!  That code is made to handle customized trailing stops/breakeven and is ready-to-use, so you’d better not change it unless you are aware of what you are doing.

  Put where else you want, usually at the end of your strategy.

  Just search any strategy in the library and study where other members place their code, you’ll learn how it is structured.

   

   

  

  robertogozzi

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  02/22/2018 at 9:18 PM #63582
  tob107

  Hi,

  Just a quick visit now, so I haven’t read the entire thread. But I wrote this a while ago, I hope it might help:

  Dynamic SL

  SL = 20 // Initial SL TP = 30 TSL = 1 // Use TSL? TrailingDistance = 20 // Distance from close to TSL TrailingStep = 3 // Pips locked at start of TSL //************************************************************************ IF TSL = 1 THEN //reset the stoploss value IF NOT ONMARKET THEN newSL = 0 CAND = 0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL = 0 AND CLOSE - TRADEPRICE(1) >= TrailingDistance*PipSize THEN newSL = TRADEPRICE(1) + TrailingStep*PipSize ENDIF //next moves CAND = BarIndex - TradeIndex IF newSL > 0 AND CLOSE[1] >= HIGHEST[CAND](CLOSE) THEN newSL = CLOSE[1] - TrailingDistance*PipSize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL = 0 AND TRADEPRICE(1) - CLOSE[1] >= TrailingDistance*PipSize THEN newSL = TRADEPRICE(1) - TrailingStep*PipSize ENDIF //next moves CAND = BarIndex - TradeIndex IF newSL > 0 AND CLOSE[1] <= LOWEST[CAND](CLOSE) THEN newSL = CLOSE[1] + TrailingDistance*PipSize ENDIF ENDIF //stop order to exit the positions IF newSL > 0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF SET STOP pLOSS SL ENDIF SL = 20 // Initial SL TP = 30 TSL = 1 // Use TSL? TrailingDistance = 20 // Distance from close to TSL TrailingStep = 3 // Pips locked at start of TSL //************************************************************************ IF TSL = 1 THEN //reset the stoploss value IF NOT ONMARKET THEN newSL = 0 CAND = 0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL = 0 AND CLOSE - TRADEPRICE(1) >= TrailingDistance*PipSize THEN newSL = TRADEPRICE(1) + TrailingStep*PipSize ENDIF //next moves CAND = BarIndex - TradeIndex IF newSL > 0 AND CLOSE[1] >= HIGHEST[CAND](CLOSE) THEN newSL = CLOSE[1] - TrailingDistance*PipSize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL = 0 AND TRADEPRICE(1) - CLOSE[1] >= TrailingDistance*PipSize THEN newSL = TRADEPRICE(1) - TrailingStep*PipSize ENDIF //next moves CAND = BarIndex - TradeIndex IF newSL > 0 AND CLOSE[1] <= LOWEST[CAND](CLOSE) THEN newSL = CLOSE[1] + TrailingDistance*PipSize ENDIF ENDIF //stop order to exit the positions IF newSL > 0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF SET STOP pLOSS SL ENDIF

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  SL = 20 // Initial SL TP = 30 TSL = 1 // Use TSL? TrailingDistance = 20 // Distance from close to TSL TrailingStep = 3 // Pips locked at start of TSL   //************************************************************************ IF TSL = 1 THEN   //reset the stoploss value IF NOT ONMARKET THEN newSL = 0 CAND = 0 ENDIF   //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL = 0 AND CLOSE - TRADEPRICE(1) >= TrailingDistance*PipSize THEN newSL = TRADEPRICE(1) + TrailingStep*PipSize ENDIF //next moves CAND = BarIndex - TradeIndex IF newSL > 0 AND CLOSE[1] >= HIGHEST[CAND](CLOSE) THEN newSL = CLOSE[1] - TrailingDistance*PipSize ENDIF ENDIF   //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL = 0 AND TRADEPRICE(1) - CLOSE[1] >= TrailingDistance*PipSize THEN newSL = TRADEPRICE(1) - TrailingStep*PipSize ENDIF //next moves CAND = BarIndex - TradeIndex IF newSL > 0 AND CLOSE[1] <= LOWEST[CAND](CLOSE) THEN newSL = CLOSE[1] + TrailingDistance*PipSize ENDIF ENDIF   //stop order to exit the positions IF newSL > 0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF SET STOP pLOSS SL ENDIF   SL = 20 // Initial SL TP = 30 TSL = 1 // Use TSL? TrailingDistance = 20 // Distance from close to TSL TrailingStep = 3 // Pips locked at start of TSL //************************************************************************ IF TSL = 1 THEN //reset the stoploss value IF NOT ONMARKET THEN newSL = 0 CAND = 0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL = 0 AND CLOSE - TRADEPRICE(1) >= TrailingDistance*PipSize THEN newSL = TRADEPRICE(1) + TrailingStep*PipSize ENDIF //next moves CAND = BarIndex - TradeIndex IF newSL > 0 AND CLOSE[1] >= HIGHEST[CAND](CLOSE) THEN newSL = CLOSE[1] - TrailingDistance*PipSize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL = 0 AND TRADEPRICE(1) - CLOSE[1] >= TrailingDistance*PipSize THEN newSL = TRADEPRICE(1) - TrailingStep*PipSize ENDIF //next moves CAND = BarIndex - TradeIndex IF newSL > 0 AND CLOSE[1] <= LOWEST[CAND](CLOSE) THEN newSL = CLOSE[1] + TrailingDistance*PipSize ENDIF ENDIF //stop order to exit the positions IF newSL > 0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF SET STOP pLOSS SL ENDIF

  I hope it might help you!

  

  tob107

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