need help with MFE trailing stop

• 11/21/2017 at 4:56 PM #53481
  jebus89

  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 🙂

  

  jebus89

  Participant

  Topics: 118

  Replies: 586

  Been thanked: 238 times
  11/21/2017 at 7:03 PM #53493
  AutoStrategist

  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 <strong>StartTrailingStopValue = <Set this value></strong> //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 <strong>if tradeprice(1)-close > StartTrailingStopValue*pointsize then</strong> 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 <strong>if close-tradeprice(1) > StartTrailingStopValue*pointsize then</strong> 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

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36

  //trailing stop trailingstop = 20 <strong>StartTrailingStopValue = <Set this value></strong>   //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 <strong>if tradeprice(1)-close > StartTrailingStopValue*pointsize then</strong> 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 <strong>if close-tradeprice(1) > StartTrailingStopValue*pointsize then</strong> 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

   

  2 users thanked author for this post.

  Nicolas, manel

  

  AutoStrategist

  Participant

  Topics: 6

  Replies: 125

  Been thanked: 71 times
  11/21/2017 at 7:04 PM #53494
  AutoStrategist

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

  

  AutoStrategist

  Participant

  Topics: 6

  Replies: 125

  Been thanked: 71 times
  11/21/2017 at 9:53 PM #53516
  jebus89

  Awsome seems to be working fine 🙂 Big thanks

  

  jebus89

  Participant

  Topics: 118

  Replies: 586

  Been thanked: 238 times
• Author
  Posts