Set stop loss to an indicator.

Viewing 4 posts - 1 through 4 (of 4 total)

Author

Posts

05/02/2021 at 4:48 AM #168541 quote

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

Legend

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

Legend

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.

Author

Posts

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.

New

Stuck on this ProBuilder code?

Describe what this topic is trying to build, in plain English, and ProRealAI writes the ProRealTime™ indicator, screener or system for you.

Available in 7 languages

Try ProRealAI

Set stop loss to an indicator.

ProOrder: Automated Strategies & Backtesting

New Reply

Author

Velociraptux @velociraptux Participant

Summary

This topic contains 3 replies,
has 2 voices, and was last updated by Velociraptux
5 years, 5 months ago.

Topic Details

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