Set Stop Loss Donchian Channel

Fabian · 2018-03-12T19:37:44+00:00

Hello, i want to set a Stop Loss on a Donchian Channel value, but it dont works. I try: SET STOP LOSS LOWEST[20](Low) And: SET STOP PLOSS OPEN - LOWEST[20](Low) But the StopLoss will never triggered 🙁 Any Idea? EDIT: Whole code: IF not longonmarket AND HOUR = 21 THEN BUY 1 CONTRACTS AT MARKET SET STOP LOSS LOWEST[20](Low) ENDIF

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03/12/2018 at 8:37 PM #65133 quote
Fabian
Participant

New
Hello,

i want to set a Stop Loss on a Donchian Channel value, but it dont works.

I try:
```
SET STOP LOSS LOWEST[20](Low)
```
And:
```
SET STOP PLOSS OPEN - LOWEST[20](Low)
```
But the StopLoss will never triggered 🙁 Any Idea?

EDIT:

Whole code:
```
IF not longonmarket AND HOUR = 21 THEN
BUY 1 CONTRACTS AT MARKET
SET STOP LOSS LOWEST[20](Low)
ENDIF
```
03/12/2018 at 10:38 PM #65147 quote
Vonasi
Moderator

Master
Try:
```
IF not longonmarket AND HOUR = 21 THEN
BUY 1 CONTRACTS AT MARKET
SET STOP pLOSS (close -  LOWEST[20](Low))
ENDIF
```
Nicolas thanked this post
03/13/2018 at 10:35 AM #65176 quote
Nicolas
Keymaster

Legend
To avoid points conversion problem, you should use SET STOP LOSS and not PLOSS. If the pointsize is not equal to 1, and since the stoploss calculation is made with price (close and lowest low), the stop loss value would never be set at the good level.
```
IF not longonmarket AND HOUR = 21 THEN
BUY 1 CONTRACTS AT MARKET
SET STOP LOSS (close -  LOWEST[20](Low))
ENDIF
```
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