Stop Loss as % of trade after 30 periods

• 09/28/2022 at 12:20 PM #201557
  downunderneath

  Hello. I have been running my own basic trading systems on  UK and USA markets,  4 hours, 1 trade open at a time, for a while now but have recognised that I need to add in a stop loss after a certain period of time. I have been researching all the stop loss coding but I am struggling to make a start.

  I want to include additional code that does the following:

  Open 1 trade and ONLY after 30 periods, close it at a loss of 0.5%

  Could someone please assist me – either direct me to a reference or provide some simple code to adapt.

  Thankyou

  Sean

  

  downunderneath

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  09/28/2022 at 3:29 PM #201577
  robertogozzi

  There you go:

  ONCE WaitingPeriods = 30 ONCE Tally = WaitingPeriods IF StrategyProfit <> StrategyProfit[1] Tally = 0 ENDIF IF Not OnMarket THEN Tally = Tally + 1 ELSE Tally = 0 ENDIF IF MyLongConditions AND Not OnMarket AND (Tally > WaitingPeriods) THEN BUY.... StopLoss = close * 0.005 //0.5% SET STOP LOSS StopLoss ENDIF IF MyShortConditions AND Not OnMarket AND (Tally > WaitingPeriods) THEN SELLSHORT.... StopLoss = close * 0.005 //0.5% SET STOP LOSS StopLoss ENDIF

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  ONCE WaitingPeriods = 30 ONCE Tally          = WaitingPeriods IF StrategyProfit <> StrategyProfit[1]    Tally = 0 ENDIF IF Not OnMarket THEN    Tally = Tally + 1 ELSE    Tally = 0 ENDIF IF MyLongConditions AND Not OnMarket AND (Tally > WaitingPeriods) THEN    BUY....    StopLoss = close * 0.005     //0.5%    SET STOP LOSS StopLoss ENDIF IF MyShortConditions AND Not OnMarket AND (Tally > WaitingPeriods) THEN    SELLSHORT....    StopLoss = close * 0.005     //0.5%    SET STOP LOSS StopLoss ENDIF

   

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