Set take profit on Pivot Point level

MarcoDSP · 2019-01-07T13:05:48+00:00

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 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

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Posts
01/07/2019 at 2:05 PM #88107 quote
MarcoDSP
Participant

Junior
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
```
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
01/07/2019 at 2:14 PM #88109 quote
Vonasi
Moderator

Master
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.
```
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
```
```
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. 🙂
01/08/2019 at 8:29 AM #88140 quote

MarcoDSP
Participant

Junior

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.
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Posts

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Set take profit on Pivot Point level

ProOrder: Automated Strategies & Backtesting

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MarcoDSP @marco_cardone Participant

Summary

This topic contains 2 replies,
has 2 voices, and was last updated by MarcoDSP
7 years, 10 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	01/07/2019
Status:	Active
Attachments:	No files