Opening bar stop loss

Paulchal · 2021-06-26T14:38:58+00:00

Hi What is the right code for a stop loss that is set after the opening bar. long entry condition is met and position is opened. If after that first bar ( whichever time frame is set) the first candle is green then the SL is set at the opening price. If the first candle is red the SL is set at the close price minus x pips. The reverse SL conditions for a short position. Any ideas on the code would be greatly received.

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06/26/2021 at 3:38 PM #172529 quote

Paulchal
Participant

Average

Hi

What is the right code for a stop loss that is set after the opening bar.

long entry condition is met and position is opened. If after that first bar ( whichever time frame is set) the first candle is green then the SL is set at the opening price. If the first candle is red the SL is set at the close price minus x pips.

The reverse SL conditions for a short position.

Any ideas on the code would be greatly received.

06/27/2021 at 10:25 AM #172551 quote
robertogozzi
Moderator

Legend
Eccolo (SL=Stop Loss):
```
Bullish = close > open
Bearish = close < open
IF LongOnMarket AND Not LongOnMarket[1] THEN   //prima barra dopo entrata a mercato
   IF Bullish THEN
      SL = TradePrice
   ELSIF Bearish THEN
      SL = close - 20*PipSize
   ENDIF
ELSIF ShortOnMarket AND Not ShortOnMarket[1] THEN   //prima barra dopo entrata a mercato
   IF Bearish THEN
      SL = TradePrice
   ELSIF Bullish THEN
      SL = close + 20*PipSize
   ENDIF
ENDIF
```
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