No immediately stop starting Trailing Stop code

• 01/03/2022 at 9:49 PM #184458
  RichardVeen

  Hi all,

  I recently start with coding and I learned a lot with reading the articles on this forum and the code I found.

  Now I’m working on the Trailing Stop code which I found on in this forum. The code is working (backtesting + Paper Trading) but I have a question:

  When the trade starts, the ‘ stop’  is not immediately  active, but after the entry candle has been closed and the conditions has been met, then the Trailing Stop will be active.

  This means that I have a risk because when I enter my trade, there is no stop…….is that correct assumption? Or do I use the Trailing Stop code incorrect?

  But when I enter a trade, I want to have immediately a stop to avoid the risk, how do I program that in the code?

  Can you help?

  Below a code (simple sample code) with the Trailing Stop which is working in Backtesting + Papertrading:

  ——————————————————————————————————————————

  Defparam cumulateorders = false //order launch (example) would be set to any other entry conditions c1 = close>close[1] c2 = close<close[1] if c1 then BUY 1 LOT AT MARKET set target pprofit 30 endif if c2 then SELLSHORT 1 LOT AT MARKET set target pprofit 30 endif //************************************************************************ //trailing stop function trailingstart = 2 //trailing will start @trailinstart points profit trailingstep = 2 //trailing step to move the "stoploss" //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart*pointsize THEN newSL = tradeprice(1)+trailingstep*pointsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pointsize THEN newSL = newSL+trailingstep*pointsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pointsize THEN newSL = tradeprice(1)-trailingstep*pointsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pointsize THEN newSL = newSL-trailingstep*pointsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL 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 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55

  Defparam cumulateorders = false   //order launch (example) would be set to any other entry conditions c1 = close>close[1] c2 = close<close[1]   if c1 then BUY 1 LOT AT MARKET set target pprofit 30 endif   if c2 then SELLSHORT 1 LOT AT MARKET set target pprofit 30 endif   //************************************************************************ //trailing stop function trailingstart = 2 //trailing will start @trailinstart points profit trailingstep = 2 //trailing step to move the "stoploss"   //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF   //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart*pointsize THEN newSL = tradeprice(1)+trailingstep*pointsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pointsize THEN newSL = newSL+trailingstep*pointsize ENDIF ENDIF   //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pointsize THEN newSL = tradeprice(1)-trailingstep*pointsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pointsize THEN newSL = newSL-trailingstep*pointsize ENDIF ENDIF   //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF

   

  ——————————————————————————————————————–

   

  Thanks in advance!

  Richard

  

  RichardVeen

  Participant

  Topics: 12

  Replies: 35

  Been thanked: 1 time
  01/03/2022 at 10:13 PM #184461
  robertogozzi

  Just add a SET STOP PLOSS just below, or before, SET TARGET PPROFIT, so you’ll have a stop loss from the very start.

   

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17894

  Been thanked: 4508 times
  01/04/2022 at 8:59 PM #184542
  RichardVeen

  Hi Roberto,

  It is working, thanks!

   

  

  RichardVeen

  Participant

  Topics: 12

  Replies: 35

  Been thanked: 1 time
• Author
  Posts