Set stop loss to an indicator.

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  • Author
    Posts
  • 05/02/2021 at 4:48 AM #168541 quote
    Velociraptux
    Participant
    New

    Hi.
    I try to adjust my stoploss to my second closest supertrend to the price. But I can’t.
    Does anyone have an idea?
    Thank you

    DEFPARAM FLATAFTER = 224500
DEFPARAM CUMULATEORDERS = False

once startt = 000000
once endt = 220000

// SUPERTREND
st1 = Supertrend[1,10]
st2 = Supertrend[2,11]
st3 = Supertrend[3,12]

// SUPERTREND CONDITIONS
stl = 0
sts = 0

IF st1 < close AND st2 < close THEN
stl = 1
ENDIF
IF st1 < close AND st3 < close THEN
stl = 2
ENDIF
IF st2 < close AND st3 < close THEN
stl = 3
ENDIF
IF st1 < close AND st2 < close AND st3 < close THEN
stl = 4
ENDIF


// SOTP LOSS CONDITIONS
IF stl = 1 AND st1 < st2 THEN
sll = st1
ELSE
sll = st2
ENDIF
IF stl = 2 AND st1 < st3 THEN
sll = st1
ELSE
sll = st3
ENDIF
IF stl = 3 AND st2 < st3 THEN
sll = st2
ELSE
sll = st3
ENDIF
IF stl = 4 THEN
sll = st2
ENDIF

// POSITIONS CONDITIONS
IF time >= startt AND time <= endt THEN
IF not onmarket AND stl >= 1 THEN
buy 1 contract at market
set stop loss (tradeprice - sll)
SET TARGET PPROFIT 45
ENDIF
    05/02/2021 at 8:02 AM #168545 quote
    robertogozzi
    Moderator
    Master

    I suggest computing the middle of their range like that, for line 54:

    set stop loss ((tradeprice - ((st1 + st2 + st3) / 3))
    Velociraptux thanked this post
    05/02/2021 at 8:36 AM #168547 quote
    robertogozzi
    Moderator
    Master

    There’s a major issue, TRADEPRICE is not known when BUY is executed, until the next candle.

    Due to this it will retain the exit price of the prior trade or 0 the very first time making the stop loss negative.

    To overcome this I’d change line 54 using the current price and saving the ST value for a later use:

    MyST = (st1 + st2 + st3) / 3)
set stop loss (close - MyST)
    then I would append these lines at the end, for the next candle: 
    If OnMarket and Not OnMarket[1] then
   set stop loss (tradeprice - MyST)
Endif
    This will grant you an initial stop loss, making it more accurate next candle.
    Velociraptux thanked this post
    05/09/2021 at 6:03 PM #169201 quote
    Velociraptux
    Participant
    New
    Thank you Roberto.
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Set stop loss to an indicator.


ProOrder: Automated Strategies & Backtesting

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Velociraptux @velociraptux Participant
Summary

This topic contains 3 replies,
has 2 voices, and was last updated by Velociraptux
4 years, 9 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 05/02/2021
Status: Active
Attachments: No files
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