setting Stops and Targets based on the executed price

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  • 06/16/2020 at 2:15 PM #136134 quote
    Jaldidee
    Participant
    Average

    Hello Everybody,

    I have a question aboiut a part of a code I am working on. Basically I tell to enter a trade at the high of a bar.

    I the set my stop at the low of the bar and I calculate the difference between these two points. I then multiply this by 2 and that will be my target.

    Now after a while I find that due to slippage the entry point is usual a few points above the bar high. Is there a possibility to use the actual executed price in the calculation of stop and target?

    mylimitbuy = high[1] + 0.2
mystoplong = low[1]-4
mytargetlong = mylimitbuy + (2*(mylimitbuy-mystoplong))

// Conditions to enter long positions
IF not onmarket and (tradeindex(1)< myindex) and  mylimitbuy > 0 AND positionsizelong < maxpositionsize AND not daysForbiddenEntry THEN
BUY positionsizelong CONTRACT AT mylimitbuy STOP
endif

sell at mystoplong stop
sell at mytargetlong limit

    Hope someone can help me.

    Kind Regards,

    Jaldidee

    09/26/2020 at 3:29 PM #145463 quote
    robertogozzi
    Moderator
    Master

    Please Do not double post. Ask your question only once and only in one forum. All double posts will be deleted anyway so posting the same question multiple times will just be wasting your own time and will not get you an answer any quicker. Double posting just creates confusion in the forums.

    Thank you 🙂

    1. I suggest that you move lines 10-11 to a new line just before line 8, so that they don’t move each new bar due to lines 1-3.

    2. TradePrice (or PositionPrice when cumulating positions) is only known when the bar where the trade entered CLOSES, so you can check when you are OnMarket but weren’t the previous bar (using If OnMarket AND Not OnMarket[1]) then re-calculate SL & TP according to the real price and setting them again will overwrite the previous one.

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setting Stops and Targets based on the executed price


ProOrder: Automated Strategies & Backtesting

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Jaldidee @jaldidee Participant
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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
5 years, 5 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 06/16/2020
Status: Active
Attachments: No files
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