stop loss -3 candles

mr blue · 2020-11-18T12:38:58+00:00

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.

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

Senior
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.
11/18/2020 at 2:41 PM #150870 quote
robertogozzi
Moderator

Legend
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
```
mr blue, GraHal and icharttop thanked this post
11/18/2020 at 3:00 PM #150871 quote

GraHal
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Link to above added as Log 261 here …

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robertogozzi thanked this post

11/18/2020 at 4:31 PM #150877 quote

mr blue
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Senior

works – grazie
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