need help with MFE trailing stop

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  • #53481 quote
    jebus89
    Participant
    Master

    https://www.prorealcode.com/blog/learning/trailing-stop-max-favorable-excursion-mfe/

     

    Hi, is it possible for someone to help me to code the following:

    I want the MFE trailing stop to be activated after X amounts of pips in profit.

    So i want it to be activated if i reach say 50 pips.

     

    Big thanks 🙂

    #53493 quote
    AutoStrategist
    Participant
    Veteran

    You will need to add the lines I have highlighted in bold to be able to set the value at which your trailing stop begins. You can create separate ones for long and short if you wanted that.

    //trailing stop
    trailingstop = 20
    StartTrailingStopValue = <Set this value>
    
    //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)-close > StartTrailingStopValue*pointsize then
    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
    endif
    
    //case LONG order
    if longonmarket then
    MAXPRICE = MAX(MAXPRICE,close) //saving the MFE of the current trade
    if close-tradeprice(1) > StartTrailingStopValue*pointsize then
    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
    endif
    
    //exit on trailing stop price levels
    if onmarket and priceexit>0 then
    EXITSHORT AT priceexit STOP
    SELL AT priceexit STOP
    endif
    

     

    manel and Nicolas thanked this post
    #53494 quote
    AutoStrategist
    Participant
    Veteran

    It didn’t bold it but it is the lines that are tagged with ‘strong’

    #53516 quote
    jebus89
    Participant
    Master
    Awsome seems to be working fine 🙂 Big thanks
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need help with MFE trailing stop


ProOrder: Automated Strategies & Backtesting

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jebus89 @jebus89 Participant
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This topic contains 3 replies,
has 2 voices, and was last updated by jebus89
8 years, 3 months ago.

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Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 11/21/2017
Status: Active
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