stop loss -3 candles

• 11/18/2020 at 1:38 PM #150867
  mr blue

  Hi there!

  Yes I know – the topic stop loss has been covered hundreds of times in this space, but I didn’t found a code snipped matching my needs.

  So I am looking for a simple code snipped which does the following:

  • after entering a long/short position, the stop is placed for a long position (3 candles back low -1 tick) and for short (3 candles back high + 1 tick)
  • as long as the trade is active the stop is updated accordingly (always 3 candles back +/- 1 tick)

   

  I tried to code it by myself, but I failed – shame on me – I know 🙂

   

  So is there anyone who solved this problem already or likes to write it?

   

  Many thanks in advance.

   

  

  mr blue

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  11/18/2020 at 2:41 PM #150870
  robertogozzi

  Not tested:

  IF MyLongConditions AND Not OnMarket THEN BUY 1 CONTRACT AT MARKET NewSL = low[3]-1*pipsize SELL AT NewSL STOP ENDIF // IF MyShortConditions AND Not OnMarket THEN SELLSHORT 1 CONTRACT AT MARKET NewSL = high[3]+1*pipsize EXITSHORT AT NewSL STOP ENDIF // IF OnMarket THEN    IF PositionPerf > 0 THEN IF LongOnMarket THEN NewSL = max(newSL,low[3]-1*pipsize) ELSE NewSL = min(newSL,high[3]+1*pipsize) ENDIF    ENDIF    IF NewSL > 0 THEN       SELL AT NewSL STOP EXITSHORT AT NewSL STOP    ENDIF ENDIF

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  IF MyLongConditions AND Not OnMarket THEN    BUY 1 CONTRACT AT MARKET    NewSL = low[3]-1*pipsize    SELL  AT NewSL STOP ENDIF // IF MyShortConditions AND Not OnMarket THEN    SELLSHORT 1 CONTRACT AT MARKET    NewSL = high[3]+1*pipsize    EXITSHORT AT NewSL STOP ENDIF // IF OnMarket THEN    IF PositionPerf > 0 THEN       IF LongOnMarket THEN          NewSL = max(newSL,low[3]-1*pipsize)       ELSE          NewSL = min(newSL,high[3]+1*pipsize)       ENDIF    ENDIF    IF NewSL > 0 THEN       SELL             AT NewSL STOP      EXITSHORT AT NewSL STOP    ENDIF ENDIF

   

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  icharttop, GraHal, mr blue

  

  robertogozzi

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  11/18/2020 at 3:00 PM #150871
  GraHal

  Link to above added as Log 261 here …

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  robertogozzi

  

  GraHal

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  11/18/2020 at 4:31 PM #150877
  mr blue

  works – grazie

  

  mr blue

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