stop loss 5 pips below or above the previous candle

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07/07/2022 at 7:00 PM #196995 quote
sibeihotan
Participant

New
Hi Roberto,

Many thanks for your trailing stop code.

Just need some help – I would like to add in a hard stop loss in addition to these trailing stop codes.

For example, when i have a long position, i want the stop to be 5 pips below the previous candle and for short positions, 5 pips above the previous candle, can i code it something like this and put it in addition to your codes?
```
stoploss = close-(Low[1]-5*pointsize)
set stop loss stoploss

if longonmarket then
set stop loss stoploss
endif

stoploss1 = close-(High[1]-5*pointsize)
set stop loss stoploss1
```
I’m new to PRT – any help would be greatly appreciated.

Thanks!
07/07/2022 at 7:14 PM #196997 quote
robertogozzi
Moderator

Master
Do NOT append your questions to unrelated exixting topic. Create a new one, instead.

Thank you 🙂

Your code looks is almost correct, just use ABS() to make sure you get positive values and remove SET STOP LOSS outside IF…ENDIF to make sure you don’t overwrite the previous one when OnMarket:
```
stoploss = abs(close-Low[1])-5*pointsize
if longonmarket then
set stop loss stoploss
endif
 
stoploss1 = abs(close-High[1])+5*pointsize
if shortonmarket then
set stop loss stoploss1
endif
```
You can append Nicolss’code to your code, for sure.

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stop loss 5 pips below or above the previous candle

ProOrder: Automated Strategies & Backtesting

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sibeihotan @sibeihotan Participant

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3 years, 7 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	07/07/2022
Status:	Active
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