Safezone stop at time of entry

Viewing 3 posts - 1 through 3 (of 3 total)

Author

Posts
02/09/2020 at 3:06 PM #119093 quote

Henchey
Participant

Junior

Hi

Could somebody advise if I can set a stop using elder safe zone long? I’m trying to use the safe zone level at the point of trade entry. Is it possible timestamp or identify the candle at point of entry (TRADEPRICE perhaps?) and then use the safe zone indicator level at that point in time?

Problem is I think I will end up identifying the current safe zone level instead of the previous (n) bars.

Many thanks

Pete

02/09/2020 at 5:31 PM #119097 quote

Henchey
Participant

Junior

Maybe TRADEINDEX would be more suitable?

02/17/2020 at 10:17 PM #119802 quote
Henchey
Participant

Junior
This is where I’m at at present, it seems to be getting there but not sure if its as efficient as it could be?
```
// Conditions to exit long positions. Firstly define safezone long level at time of trade entry. Use this level as a stop. For profit target multiply this risk amout to achieve risk reward level.

indicator2 = CALL "Elder - SafeZone Long"[2, 99]
indicator3 = CALL "Elder - Chandelier Long"[3, 22]

IF ONMARKET AND (BarIndex-TradeIndex = 0) THEN
myRisk = TRADEPRICE - indicator2[1]
ENDIF

IF LONGONMARKET AND Low <= TRADEPRICE-myRisk THEN
SELL AT MARKET
ENDIF

myReward =myRisk*10

IF LONGONMARKET AND High >= TRADEPRICE + myReward AND close <= indicator3[1] THEN
SELL AT MARKET
ENDIF
```
Author

Posts

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic.

Login your account

Safezone stop at time of entry

ProBuilder: Indicators & Custom Tools

New Reply

Author

Henchey @henchey Participant

Summary

This topic contains 2 replies,
has 1 voice, and was last updated by Henchey
5 years, 12 months ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	02/09/2020
Status:	Active
Attachments:	No files

Loading...