Set StopLoss to Indicator value at Entry

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  • 11/25/2022 at 7:57 PM #204837 quote
    debux
    Participant
    New

    Hi there! Perhaps someone can help me.

    I try to set a StopLoss when price break the SAR Indicator (with the value of one bar after entering the trade).

    I know I can define the number of bars to look back, but how can I set it to the value from entering the trade?

    I hope it is clear what I mean.

    11/26/2022 at 7:09 PM #204867 quote
    JS
    Participant
    Senior

    Hi @debux

    If I understand correctly, you want to place the “StopLoss” after entering a position…

    For example, you can use:

    If OnMarket and NOT OnMarket[1] then
    Set Stop Loss …
    EndIf

    11/26/2022 at 7:28 PM #204868 quote
    debux
    Participant
    New

    Thank You! I will try it…

    11/26/2022 at 9:53 PM #204873 quote
    debux
    Participant
    New

    Hi @JS

    unfortunatly it doesn‘t work. I will try to explain the problem in more detail:

    Lets say I enter a long position when overcrossing the parabolic SAR indicator.

    At this moment, the value of the Indicator switches the sides, now the value of the Indicator is lower.

    I would like to set the StopLoss to this new value.

    If i just say, set StopLoss when undercrossing SAR it is not correct,  because the SAR is changing its value after each candle and is moving closer to the price of the underlying.

    Regards, debux

    11/26/2022 at 10:19 PM #204874 quote
    JS
    Participant
    Senior

    Hi @debux

    You can try this…

     

      

    mySAR = SAR[0.02,0.02,0.2]

IF LOW < mySAR and Close < Open THEN
SellShort 1 contract at Market
Set Stop Loss mySAR
ENDIF

IF HIGH > mySAR and Close >= Open THEN
Buy 1 contract at Market
Set Stop Loss mySAR
ENDIF
    11/26/2022 at 10:46 PM #204875 quote
    JS
    Participant
    Senior

    Sorry, “Stop Loss” must be of course “Stop Price” …

      

    DefParam CumulateOrders = False

mySAR = SAR[0.02,0.02,0.2]

IF LOW < mySAR and Close < Open THEN
SellShort 1 contract at Market
Set Stop Price mySAR
ENDIF

IF HIGH > mySAR and Close >= Open THEN
Buy 1 contract at Market
Set Stop Price mySAR
ENDIF
    Nicolas and debux thanked this post
    11/29/2022 at 1:17 PM #205019 quote
    debux
    Participant
    New

    Hi @JS

    Thank you very much for your help. It works now…

    Cheers, debux

    JS thanked this post
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Set StopLoss to Indicator value at Entry


ProOrder: Automated Strategies & Backtesting

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debux @debux Participant
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This topic contains 6 replies,
has 2 voices, and was last updated by debux
3 years, 2 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 11/25/2022
Status: Active
Attachments: No files
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