setting stop and target at bar high and low

Jaldidee · 2019-06-05T19:20:45+00:00

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] 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

Viewing 7 posts - 1 through 7 (of 7 total)

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

Average
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
```
Hope someone can help me.

Kind Regards,

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

Master
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
```
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.
06/09/2019 at 9:58 AM #100246 quote

GraHal
Participant

Master

Above code added to here Snippet Link Library

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

Jaldidee
Participant

Average

Hello Vonasi,

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

Thanks alot.

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

Barney
Participant

Senior

Hmmm.

When i tested the code it look like this?

9jun.jpg

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

Master
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]
```
06/09/2019 at 7:45 PM #100267 quote
Jaldidee
Participant

Average
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
```
GraHal and Nicolas thanked this post
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