Stop loss off of high – attempt and resultant weird code?
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Hi all,
I have been trying to make a stop loss to recover a nominal dollar amount – to stop/exit a position if there is a >=$50k drawdown – but only if the position is > $200k profitable – and not have this mechanism activate for dollar profit amounts less than $200k.
Sounds great already.
An intra-bar stop would be great, though I have heard that this may not be possible?
I wrote this code below – to try and do what I wanted above.
dollars = (close*countofposition*pipsize*pipvalue)-(tradeprice*countofposition*pipsize*pipvalue) hd = highest[4](dollars) if longonmarket or shortonmarket then if dollars >200000 and ((hd - dollars) < 50000) then sell at (tradeprice + (dollars/countofposition/pipsize/pipvalue)) stop exitshort at (tradeprice + (dollars/countofposition/pipsize/pipvalue)) stop endif endifHave attached 2 pictures below – “before” and “after” the code above was implemented.
So it seems that the code is not working intra-bar – but it sells at the START of the bar that I thought it would have sold at somewhere part way through when it would have got down to its drawdown stop target.
I don’t quite know how it works, but it seems to go back in time/doesn’t work. Be great if it did work…
Anyways – just looking for a little help to do this dollar-target based stop loss, which only kicks in after a certain profit size, to sell after a certain quantity of drawdown. Intra-bar great, end of bar if nothing else.
Thanks,
Finning.
Hi Nicolas,
yes, you were right. After reading https://www.prorealcode.com/topic/problem-with-stoploss-function/ , the function that you told me to check was a level – and not a distance – which would have caused a problem – even though the function seemed to work.
A dollar based stop loss is a great way to think about things – however it might be simpler if I just stick to points – and it looks like https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/ does a great job. I’ll probably just use that code it seems to work well.
I am still perplexed with the funny close outs on my initial code above. I guess I just have to not expect such results in actual trading.
Just another question – if I did choose to try and work in dollars – and kept the function
dollars = (close*countofposition*pipsize*pipvalue)-(tradeprice*countofposition*pipsize*pipvalue)which graphs to be the same as your function in post #21529
//floating profit floatingprofit = (((close-positionprice)*pointvalue)*countofposition)/pipsize //actual trade gainscan I then use a bank of multiple (2+) sequential set stop $trailing codes?
for example:
IF longonmarket and (Dollars >= 8001 and dollars < 9799) THEN SET STOP $TRAILING 500 ENDIF IF longonmarket and (Dollars >= 9800 and dollars < 20000) THEN SET STOP $TRAILING 5000 ENDIFThe reason I’m asking is that when I seem to use these multiple stops, I get an error claiming the loss of tick by tick data – seen in the attached picture file – an error that I haven’t seen before.
The start date of the backtest was the end of 2014 – well after the 2010 introduction of pip data.
Many thanks,
Finning.
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Topic Details
| Forum: | ProOrder: Automated Strategies & Backtesting |
| Language: | English |
| Started: | 01/16/2019 |
| Status: | Active |
| Attachments: | 3 files |
