SL at the lowest (highest) of the previous x bars for buy (sell) order

AlgoAlex · 2018-04-20T22:21:08+00:00

Hi, I’d like to code a simple SL function: when the conditions for buy order are triggered, I want the stop loss to be put below the lowest of the previous x bars. Same for sell orders, above the highest of the previous bars. Thanks for any help

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04/20/2018 at 11:21 PM #68892 quote

AlgoAlex
Participant

Master

Hi,

I’d like to code a simple SL function:

when the conditions for buy order are triggered, I want the stop loss to be put below the lowest of the previous x bars.

Same for sell orders, above the highest of the previous bars.

Thanks for any help

04/21/2018 at 7:27 AM #68901 quote
Vonasi
Moderator

Master
```
IF Not OnMarket and (your conditions) THEN
BUY at Market
SL = Lowest[100](Low)
SELL AT SL STOP
ENDIF

IF OnMarket THEN
SELL at SL STOP
ENDIF
```
This should work if I have understood right what you want. The stoploss price is set and an order set at the time of entry and an order placed every bar after that at that same stoploss price while you still on the market because the STOP orders need to be renewed at every new bar. Obviously change the [100] to whatever period you need for your lookback.

Code the reverse with Highest[x](High and SellShort and ExitShort for short positions.

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SL at the lowest (highest) of the previous x bars for buy (sell) order

ProOrder: Automated Strategies & Backtesting

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AlgoAlex @alexf Participant

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This topic contains 1 reply,
has 2 voices, and was last updated by Vonasi
8 years, 5 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	04/20/2018
Status:	Active
Attachments:	No files