set stop loss in profit region when in profit

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02/24/2021 at 3:15 AM #162496 quote

kevin12345
Participant

Average

hi,

anyone know how to code set stop loss in profit region when in profit?

thank you

02/24/2021 at 8:28 AM #162498 quote
robertogozzi
Moderator

Master
You need to use pending a STOP order.

Example to set SL at breakeven + 10 pips, after profits have reached 50 pips:
```
If not OnMarket then
   StopLoss = 0
Endif
If StopLoss = 0 and OnMarket then
   Profit = PositionPerf * PositionPrice
   If Profit > 50 * pipsize then
      If LongOnMarket then
         StopLoss = PositionPrice + 10 * pipsize
      Else
         StopLoss = PositionPrice - 10 * pipsize
      Endif
   Endif
Endif
If StopLoss > 0 then
   Sell      at StopLoss STOP
   Exitshort at StopLoss STOP
Endif
```
(not tested)

icharttop thanked this post
02/24/2021 at 11:07 AM #162505 quote
kevin12345
Participant

Average
can someone explain why I exit there?
```
IF  c1  and uptrend and not onmarket THEN
BUY 1 CONTRACTS AT MARKET
ENDIF

If OnMarket then
totalProfit = PositionPerf * PositionPrice
if totalprofit > 10*pipsize then
stoploss = positionprice + 5*pipsize
sell at stoploss stop
exitshort at stoploss stop
Endif
Endif

If longonmarket and  totalProfit > 10 * pipsize then
if habearcandle5mn then
Sell at market
Endif
endif
```
I’m not suppose to have a stop loss in the loss region

thanks

icharttop thanked this post

3.png
02/24/2021 at 11:14 AM #162507 quote

kevin12345
Participant

Average

sorry problem solved. the reason why it stopped because the backtest period ended where it stopped.

02/24/2021 at 12:04 PM #162514 quote

robertogozzi
Moderator

Master

Be warned that pending orders expire each bar and you have to place them again and again, if needed.

Lines 9-10 will only be executed the first time.

You should place them outside that check (like my example), otherwise you SL will placed correctly when 10 pips are reached but, if not hit and the next bar profit decreses to 6 pips, it won’t be placed at all!

02/26/2021 at 2:03 AM #162645 quote
kevin12345
Participant

Average
hi, i want to put stoploss at 0 when profit is 5 pips above the positionprice and move to 5 pips in profit when it is 10pips above the positionprice. can you check my codes if i have done that? thank you
```
If longOnMarket then
totalProfit = PositionPerf * PositionPrice
if totalprofit > 5*pipsize then
stoploss = 0
endif
if totalprofit > 10*pipsize then
stoploss = positionprice + 5*pipsize
Endif
Endif

if stoploss=0 then
sell at stoploss stop
endif

if stoploss > 0 then
sell at stoploss stop
endif
```
02/26/2021 at 3:49 AM #162647 quote
kevin12345
Participant

Average
```
if not onmarket then
stoploss = 0
endif 

If longOnMarket then
totalProfit = PositionPerf * PositionPrice
if totalprofit > 10*pipsize then
stoploss = positionprice + 5*pipsize
Endif
Endif

if longonmarket  and close <10*pipsize then
sell at stoploss stop
endif

If longonmarket and  totalProfit > 10 * pipsize then
if habearcandle5mn then
Sell at market
Endif
endif

set target pprofit 100
graph stoploss
```
6.png
02/26/2021 at 3:50 AM #162649 quote

kevin12345
Participant

Average

does not seem to trigger the stop loss i have on 5 pips above position price.

02/26/2021 at 6:02 AM #162652 quote

kevin12345
Participant

Average

solved it

02/26/2021 at 8:51 AM #162659 quote

GraHal
Participant

Master

Tell us then please … stories without endings are not good for sleeping!? 🙂

02/27/2021 at 7:59 AM #162704 quote
kevin12345
Participant

Average
change line 12 to
```
if longonmarket  and ((close - positionprice )< 10*pipsize) then
```
02/27/2021 at 8:01 AM #162705 quote
kevin12345
Participant

Average
but for going short it does not work. it opens and closes immediately and the stoploss variable is always zero.
```
if not onmarket then
stoploss = 0
endif
If shortOnMarket then
totalProfit = PositionPerf * PositionPrice
if totalprofit > 10*pipsize then
stoploss = positionprice - 5*pipsize
Endif
Endif

if shortonmarket  and (( positionprice - close )< 10*pipsize) then
exitshort at stoploss stop
endif

If shortonmarket and  totalProfit > 10 * pipsize then
if habullcandle5mn then
exitshort at market
Endif
endif
```
anyone got any ideas?

icharttop thanked this post
02/27/2021 at 8:09 AM #162706 quote

kevin12345
Participant

Average

seems like it worked when i changed line 2 to stoploss=2 because i have spread =2 when i backtested

SkippyTrader thanked this post

02/27/2021 at 8:18 AM #162707 quote
Vonasi
Moderator

Master
Obviously when going short prices and stop losses are reversed. So the calculations in lines 7 and 11 need to be reversed.
```
stoploss = positionprice + 5*pipsize
```
```
if shortonmarket  and (( close - positionprice)< 10*pipsize) then
```
icharttop and SkippyTrader thanked this post
10/05/2021 at 2:59 PM #179088 quote

SkippyTrader
Participant

New

Thanks – very useful to code this to minimise losing any initial capital.
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