setting stop and target at bar high and low

• 06/05/2019 at 8:20 PM #100010
  Jaldidee

  Hello everybody,

  I am fairly new at programming my own trading codes. I recently finished the advanced programming course and i am starting to program my first (simple) codes.

  I have run into a problem with setting my stop and target at de previous bar and low.

  What I want to achieve is that when a insidebar appears in a strong trend a order is put in.

  The entrypoint is the previous bar high(high[1] (this i already accomplished!)

  The stoploss is at the previous bar low (low[1]). (this also now works in the following code thanks to this forum)

  The target I want to set at two times the difference between the bar high and bar low so I get a R:R of 1:2.

  once mystop = 1 //once mytarget = 1 var1 = ExponentialAverage[20](close)>= ExponentialAverage[100](close) var2 = High[0] < High[1] var3 = Low[0] > Low[1] // Conditions to enter long positions IF var1 AND var2 AND var3 AND not daysForbiddenEntry THEN BUY 1 CONTRACT AT HIGH[1] STOP mystop = low[1] //mytarget = high[1] + (2*(high[1]-low[1])) ENDIF sell at mystopbull stop //sell at mytarget stop

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  once mystop = 1 //once mytarget = 1   var1 = ExponentialAverage[20](close)>= ExponentialAverage[100](close) var2 = High[0] < High[1] var3 = Low[0] > Low[1]   // Conditions to enter long positions   IF var1 AND var2 AND var3 AND not daysForbiddenEntry THEN BUY 1 CONTRACT AT HIGH[1] STOP mystop = low[1] //mytarget = high[1] + (2*(high[1]-low[1])) ENDIF   sell at mystopbull stop //sell at mytarget stop

  Hope someone can help me.

   

  Kind Regards,

   

  Jaldidee

   

  

  Jaldidee

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  06/08/2019 at 6:52 PM #100227
  Vonasi

  Change the last line from STOP to LIMIT

  var1 = ExponentialAverage[20](close)>= ExponentialAverage[100](close) var2 = High[0] < High[1] var3 = Low[0] > Low[1] // Conditions to enter long positions IF not onmarket and var1 AND var2 AND var3 AND not daysForbiddenEntry THEN BUY 1 CONTRACT AT HIGH[1] STOP mystop = low[1] mytarget = high[1] + (2*(high[1]-low[1])) sell at mystopbull stop sell at mytarget limit ENDIF if onmarket then sell at mystopbull stop sell at mytarget limit endif

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  var1 = ExponentialAverage[20](close)>= ExponentialAverage[100](close) var2 = High[0] < High[1] var3 = Low[0] > Low[1] // Conditions to enter long positions IF not onmarket and var1 AND var2 AND var3 AND not daysForbiddenEntry THEN BUY 1 CONTRACT AT HIGH[1] STOP mystop = low[1] mytarget = high[1] + (2*(high[1]-low[1])) sell at mystopbull stop sell at mytarget limit ENDIF if onmarket then sell at mystopbull stop sell at mytarget limit endif

  I’ve added a IF NOT ONMARKET condition as otherwise the stop and limit values could change after you have opened a position. This does however mean that you can not have cumulating positions.

  

  Vonasi

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  06/09/2019 at 9:58 AM #100246
  GraHal

  Above code added to here

  Snippet Link Library

  

  GraHal

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  06/09/2019 at 12:38 PM #100251
  Jaldidee

  Hello Vonasi,

  Thanks for your reply. I tested your changes and it works perfectly now.

  Thanks alot.

   

  

  Jaldidee

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  06/09/2019 at 4:09 PM #100255
  Barney

  Hmmm.

   

  When i tested the code it look like this?

  

  Barney

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  06/09/2019 at 6:44 PM #100266
  GraHal

  Yeah I noted that … it needs below as Line 9?

  Vonasi must not have had his coffees! 🙂

  Oh no it was 6:52 PM … he must have started on the beers early … well it is Sunday and he had been travelling for days! 🙂

  9 mystopbull = low[1]

  1	9    mystopbull = low[1]

   

   

  

  GraHal

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  06/09/2019 at 7:45 PM #100267
  Jaldidee

  Hello Guys,

  Grahal is right. The inconsistency was in difference between mystop and mystopbull (has to be the same offcourse!).

  Underneath I complemented the code now with also the conditions for short positions.

  var1 = ExponentialAverage[20](close)>= ExponentialAverage[100](close) var2 = High[0] < High[1] var3 = Low[0] > Low[1] var4 = ExponentialAverage[20](close)<= ExponentialAverage[100](close) // Conditions to enter long positions IF not onmarket and var1 AND var2 AND var3 AND not daysForbiddenEntry THEN BUY 1 CONTRACT AT HIGH[1] STOP mystoplong = low[1] mytargetlong = high[1] + (2*(high[1]-low[1])) ENDIF if onmarket then sell at mystoplong stop sell at mytargetlong limit endif //conditions to enter short positions IF not onmarket and var4 AND var2 AND var3 AND not daysForbiddenEntry THEN SELLSHORT 1 CONTRACT AT LOW[1] STOP mystopshort = high[1] mytargetshort = low[1]-(2*(high[1]-low[1])) ENDIF if onmarket then exitshort at mystopshort stop exitshort at mytargetshort limit endif

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  var1 = ExponentialAverage[20](close)>= ExponentialAverage[100](close) var2 = High[0] < High[1] var3 = Low[0] > Low[1] var4 = ExponentialAverage[20](close)<= ExponentialAverage[100](close) // Conditions to enter long positions IF not onmarket and var1 AND var2 AND var3 AND not daysForbiddenEntry THEN BUY 1 CONTRACT AT HIGH[1] STOP mystoplong = low[1] mytargetlong = high[1] + (2*(high[1]-low[1])) ENDIF if onmarket then sell at mystoplong stop sell at mytargetlong limit endif   //conditions to enter short positions IF not onmarket and var4 AND var2 AND var3 AND not daysForbiddenEntry THEN SELLSHORT 1 CONTRACT AT LOW[1] STOP mystopshort = high[1] mytargetshort = low[1]-(2*(high[1]-low[1])) ENDIF if onmarket then exitshort at mystopshort stop exitshort at mytargetshort limit endif

   

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  Jaldidee

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