stop loss code not working

• 06/02/2019 at 3:39 PM #99821
  jayvee

  Hi

  Was hoping someone can shed some light on the code below:

  IF Bullish THEN buy (100/(2*atr)) perpoint AT MARKET set stop loss (2*atr) set stop trailing (4*atr) ENDIF

  1 2 3 4 5

  IF Bullish THEN buy (100/(2*atr)) perpoint AT MARKET set stop loss (2*atr) set stop trailing (4*atr) ENDIF

   

  In the back test i was expecting the worst trade value to be £100 but turns out as £466. If you swap the position of the set stop loss and trailing i.e. have

  set stop trailing (4*atr) set stop loss (2*atr)

  1 2	set stop trailing (4*atr) set stop loss (2*atr)

   

  then the worst trade value os £384

  If you change everything to 4*atr as below then the max loss comes to £232

  IF Bullish THEN buy (100/(4*atr)) perpoint AT MARKET set stop loss (4*atr) set stop trailing (4*atr) ENDIF

  1 2 3 4 5

  IF Bullish THEN buy (100/(4*atr)) perpoint AT MARKET set stop loss (4*atr) set stop trailing (4*atr) ENDIF

   

  I’m quite confused as to what i’m doing wrong. Anybody able to help please?

  Kind regards

  JV

   

  

  jayvee

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  06/02/2019 at 4:15 PM #99822
  robertogozzi

  Since you are using two different SL instructions, the second one will always override the first one.

  Moreover, set stop trailing will backtest using a 1-pip step.

  You’d better using custom code, instead.

  You can retrieve many snippets on the forum or from the Snippet Library you can find using the search box.

  

  robertogozzi

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  06/02/2019 at 5:25 PM #99830
  Vonasi

  jayvee – Welcome to the forums.

  There are some basic rules that everyone needs to follow when posting in the forums and you have broken two of them.

  Please always use the ‘Insert PRT Code’ button when putting code in your posts as it makes it much easier for others to read. The ‘Insert PRT Code’ button can be found at the far right of the tools that are located above the box where you type your post.

  I have tidied up the code in your last post for you. 🙂

  Also ensure that you post your topic in the correct forum. You posted in the General Discussion forum with a ProOrder autotrading related question. I have moved your topic to the correct forum.

  

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  06/02/2019 at 9:57 PM #99833
  jayvee

  Thank you Roberto and Vonasi. Apologies, will keep in mind next time; I’m new to this

  

  jayvee

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  06/02/2019 at 10:17 PM #99834
  jayvee

  I presume where it says in the documentation (https://www.prorealcode.com/blog/learning/kinds-trailing-stop-proorder/) the below is incorrect then?

  SET STOP LOSS x TRAILING y

  1	SET STOP LOSS x TRAILING y

  Is there a way of combining a hard stop loss (set stop loss x) as I’ve done above with Nicolas’ code as it only executes when the candle closes? Apologies, I know this is probably really basic!

  //trailing stop function trailingstart = 20 //trailing will start @trailinstart points profit trailingstep = 5 //trailing step to move the "stoploss" //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart*pipsize THEN newSL = tradeprice(1)+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN newSL = newSL+trailingstep*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN newSL = tradeprice(1)-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN newSL = newSL-trailingstep*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38

  //trailing stop function trailingstart = 20 //trailing will start @trailinstart points profit trailingstep = 5 //trailing step to move the "stoploss" //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart*pipsize THEN   newSL = tradeprice(1)+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN   newSL = newSL+trailingstep*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN   newSL = tradeprice(1)-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN   newSL = newSL-trailingstep*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF

   

   

  

  jayvee

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  06/02/2019 at 11:16 PM #99835
  robertogozzi

  Despite documentation, the line:

  SET STOP LOSS x TRAILING y

  1	SET STOP LOSS x TRAILING y

  is incorrect, since it contains 2 different kinds of SL on the same line. Use

  SET STOP LOSS 0040 //requirese difference in Price, say 0040 SET STOP pLOSS 40 //requires numbers of Pips

  1 2	SET STOP LOSS 0040  //requirese difference in Price, say 0040 SET STOP pLOSS 40   //requires numbers of Pips

  then add the above code, as is (provided you set your own pip values), to your strategy.

   

   

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  06/03/2019 at 8:05 AM #99843
  Nicolas

  40 pips for a forex pair like EURUSD is set with these instructions:

  SET STOP LOSS 0.0040 //requirese difference in Price, say 0040 SET STOP pLOSS 40 //requires numbers of Pips

  1 2	SET STOP LOSS 0.0040  //requirese difference in Price, say 0040 SET STOP pLOSS 40   //requires numbers of Pips

   

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