Set take profit on Pivot Point level

• 01/07/2019 at 2:05 PM #88107
  MarcoDSP

  hi everyone, 

  I would like to set a take profit condition for a proorder strategy.

  The take profit must be set at the level of the daily pivot point when the position is opened.

  I tried with this code:

   

  // Conditions for exiting long positions indicator6 = (DHigh (1) + DLow (1) + DClose (1)) / 3 c26 = (close <= indicator6)   IF c26 THEN SELL AT MARKET ENDIF

  1 2 3 4 5 6 7

  // Conditions for exiting long positions indicator6 = (DHigh (1) + DLow (1) + DClose (1)) / 3 c26 = (close <= indicator6)   IF c26 THEN SELL AT MARKET ENDIF

   

   unfortunately with this code the pivot point is updated according to the new price trend. I would like to set the take profit at the level of the daily pivot point at the time the order is opened.

  It can be done?

  thanx Marco

  

  MarcoDSP

  Participant

  Topics: 5

  Replies: 11

  Been thanked: 0 times
  01/07/2019 at 2:14 PM #88109
  Vonasi

  Just save the value at the time that the buy order is placed and then place a pending sell stop order at each bar close. Alternatively just sell at that price or below that price as you did in your code.

  Pending Sell Stop Order

  if (your conditions) then buy 1 contract at market exitprice = (DHigh (1) + DLow (1) + DClose (1)) / 3 sell at exitprice stop endif IF longonmarket THEN sell at exitprice stop ENDIF

  1 2 3 4 5 6 7 8 9

  if (your conditions) then buy 1 contract at market exitprice = (DHigh (1) + DLow (1) + DClose (1)) / 3 sell at exitprice stop endif IF longonmarket THEN sell at exitprice stop ENDIF

  Sell if close is below or equal to exitprice

  if (your conditions) then buy 1 contract at market exitprice = (DHigh (1) + DLow (1) + DClose (1)) / 3 endif IF longonmarket and close <= exitprice THEN sell at market ENDIF

  1 2 3 4 5 6 7 8

  if (your conditions) then buy 1 contract at market exitprice = (DHigh (1) + DLow (1) + DClose (1)) / 3 endif IF longonmarket and close <= exitprice THEN sell at market ENDIF

  Note: Please use the ‘Insert PRT Code’ button when putting code in your future posts as it makes it easier for others to read. I have tidied up your post for you. 🙂

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1812 times
  01/08/2019 at 8:29 AM #88140
  MarcoDSP

  thanks for the reply Vonasi, and thank you for ordering my post. In the future I will use the right function to enter the codes here.

  

  MarcoDSP

  Participant

  Topics: 5

  Replies: 11

  Been thanked: 0 times
• Author
  Posts