Stop Loss = MFE less Spread

• 07/13/2021 at 9:37 AM #173563
  deletedaccount051022

  Hi,

  Am analyzing the MGE gap for some of the strategies I run Am trying to tweak some code to set the Stop Loss to equal MFE less N points, to avoid sudden market reversals but I can’t seem to get it to trigger.

  Can someone please advise how this should be?

  if longonmarket then mfe = highest[max(1,barindex-tradeindex)](high) endif StopLossMFE = MFE - 25

  1 2 3 4

  if longonmarket then mfe = highest[max(1,barindex-tradeindex)](high) endif StopLossMFE = MFE - 25

  Thanks very much

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  @AlgoHunter1

  

  deletedaccount051022

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  07/13/2021 at 10:16 AM #173569
  robertogozzi

  First, use 25 * PipSize, instead of 25. It will affect results when price-to-pip ratio is different from 1:1.

  Try using this as line 2:

  mfe = max(mfe,highest[max(1,barindex-tradeindex)](high))

  1	mfe = max(mfe,highest[max(1,barindex-tradeindex)](high))

   
  and make sure your Stop Loss is not negative.

  

  robertogozzi

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  07/13/2021 at 12:00 PM #173590
  deletedaccount051022

  Thank you Sir, very much appreciated.

  

  deletedaccount051022

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