SET STOP LOSS AT A PRICE

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  • 03/29/2018 at 7:13 AM #66648 quote
    Alberto Lucchese
    Participant
    Average

    Hi,

    Is there a way to set the stop loss at an specific price? as far as i understand the only options are relative to the price (in points or units) or at a $ loss or at a % loss.

    For example i want to set the stop loss below the previous low, do it need to calculate the points/units fromt he entry to the low to set it?

    03/29/2018 at 7:21 AM #66649 quote
    Nicolas
    Keymaster
    Master
    Alberto Lucchese wrote:

    For example i want to set the stop loss below the previous low, do it need to calculate the points/units fromt he entry to the low to set it?

    Yes, with

    if buycondition then 
 buy at market 
 set stop loss close-low[1]
endif

    or use a pending order to sell a buy a condition, for instance:

    if buycondition then 
 buy at market 
 selllevel = low[1]
endif

if longonmarket then 
 sell at selllevel stop 
endif
    Alberto Lucchese, Sébi and Nicolas56 thanked this post
    03/29/2018 at 8:17 AM #66656 quote
    Alberto Lucchese
    Participant
    Average

    Thank you!

    08/31/2018 at 4:35 PM #79479 quote
    joobeng
    Participant
    New

    Hi Nicolas,

    Say we have an existing BUY open position which we entered into manually, then we manage the trade using SuperTrend indicator or some methods.

    Can we apply the Strategies on the chart with an existing BUY open position, to manage or trail it ?

    selllevel = Supertrend[3,10]
    if longonmarket then
    sell at selllevel stop
    endif

    Will the above work ?

    Thanks

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SET STOP LOSS AT A PRICE


ProOrder: Automated Strategies & Backtesting

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Alberto Lucchese @gsmrules Participant
Summary

This topic contains 3 replies,
has 3 voices, and was last updated by joobeng
7 years, 6 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 03/29/2018
Status: Active
Attachments: No files
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