SET STOP LOSS AT A PRICE

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

  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?

  

  Alberto Lucchese

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  03/29/2018 at 7:21 AM #66649
  Nicolas

  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

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  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

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

   

   

  3 users thanked author for this post.

  Nicolas56, Sébi, Alberto Lucchese

  

  Nicolas

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  03/29/2018 at 8:17 AM #66656
  Alberto Lucchese

  Thank you!

  

  Alberto Lucchese

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

  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

  

  joobeng

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