Set stop loss to an indicator.

• 05/02/2021 at 4:48 AM #168541
  Velociraptux

  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

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  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

   

  

  Velociraptux

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  05/02/2021 at 8:02 AM #168545
  robertogozzi

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

  set stop loss ((tradeprice - ((st1 + st2 + st3) / 3))

  1	set stop loss ((tradeprice - ((st1 + st2 + st3) / 3))

   

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  Velociraptux

  

  robertogozzi

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  05/02/2021 at 8:36 AM #168547
  robertogozzi

  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)

  1 2	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

  1 2 3

  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.

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  Velociraptux

  

  robertogozzi

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  05/09/2021 at 6:03 PM #169201
  Velociraptux

  Thank you Roberto.

  

  Velociraptux

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