I use the non broker version of PRT.And I use Parabolic SAR as my stop loss level. However on ADAUSD 26 Feb 2021 using setting SAR[0.02,0.001,0.1] (as shown in the screenshot) it doesn’t set the stop loss as I intended. It uses the stop loss from last order.
Is it a bug or it’s the problem of my code.
Thank you
I made a simplified version of my code as attached:
C1 = SAR[0.02,0.001,0.1]
C2 = average[200](close)
// Conditions to enter long positions
IF NOT LongOnMarket AND close crosses over C1 and close > c2 THEN
Risk = abs(C1-Close)
BUY 1 CONTRACTS AT MARKET
set stop loss Risk
ENDIF
// Conditions to exit long positions
If LongOnMarket AND close crosses under C1 THEN
SELL AT MARKET
ENDIF
// Conditions to enter short positions
IF NOT ShortOnMarket AND close crosses under C1 and close < c2 THEN
Risk = abs(C1-Close)
SELLSHORT 1 CONTRACTS AT MARKET
set stop loss Risk
ENDIF
// Conditions to exit short positions
IF ShortOnMarket AND close crosses over C1 THEN
EXITSHORT AT MARKET
ENDIF
// Stops and targets : Enter your protection stops and profit targets here
graphonprice C1
graphonprice C2
When writing your Stop Loss in the line you marked “stops and profit targets here”, that value will always overwrite any previous value, as code is read sequentially. Moreover, it is not subject to any condition, so it would overwrite any other value no matter where you would write it.
You have already set your SL when entering a position, there’s no need to write those additional lines.
Thanks for your reply. I used the new template from PRT to create a simply demonstration. As you can see, it’s in the comment section. After I delete this line the problem persists. And it does not happen anywhere except on ADAUSD 26 Feb 2021 Candle as far as I saw. I was trying to troubleshoot the whole morning until I made this simplified version. There is no error that I can find.
JSParticipant
Senior
I don’t think the calculation of your Stop Loss is right:
If you look at Thursday, February 25, 2021, the SAR has had a huge dip to a value of 0.156. On this Thursday your conditions are true to buy and your stop loss is calculated:
Abs(C1 – Close) = Abs(0.15600 – 1.0759) = 0.9194
So you now have an insanely large Stop Loss that is 0.9194 below your purchase price (Open). So your “Risk” is extremely high here.
It is true that in the last trade on February 26th the Stop Loss of the previous order was used but I don’t see why that happens, it must be something in your code because this happens in a BackTest and not live…
Thanks for spending your time. The calculation should be right. However the strategy maybe isn’t. I can’t see why it happens. It bothers me knowing that there’s a problem in my backtesting. Guess I have to use another strategy then…
JSParticipant
Senior
I don’t think your calculation of your Stop Loss is good… 🙂
I think your calculated “Risk” is placed below your purchase price so here:
SL = Open – Risk = 1,0730 – 0,9194
Well, that’s the basis of my strategy. I was planning to set the stop loss where the SAR is when entering a trade. And use SAR forward as a trailing stop. It works fine under most conditions. Only in that extreme case, it f.ed up. I can see it’s not a good strategy based on that scenario. I am now thinking using ATR as my risk. But still curious why it doesn’t set up the stop loss correctly.
Place the stoploss and SAR that will follow its value:
set stop price SAR[0.02,0.001,0.1]
