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

• 04/20/2018 at 11:21 PM #68892
  AlgoAlex

  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

  

  AlgoAlex

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

  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

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  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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  AlgoAlex

  

  Vonasi

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