Stop Losses and Target Profit

• 05/04/2020 at 6:09 PM #129907
  Frank

  Hi there, I don’t really understand the difference in these pieces of code, but I get different results when I’m backtesting. The Profit Target should be  sell at market if the closing price is >3 X ADR and Stop Lossshould be sell at market if the closing price is <1.5 ADR. Can anybody help me to understand the difference between these lines of code? Also, I wonder what is the default selling mode of “SET STOP LOSS” and “SET TARGET PROFIT”? Is it MARKET, LIMIT, or STOP? // Target

  c7 = (close > 3*Average(Average[DHigh(0)-Dlow(0)]+Average[DHigh(1)-Dlow(1)+Average[DHigh(2)-Dlow(2)+Average[DHigh(3)-Dlow(3)+Average[DHigh(4)-Dlow(4)+Average[DHigh(5)-Dlow(5)+Average[DHigh(6)-Dlow(6)]]]]]])) IF c7 THEN SELL AT MARKET ENDIF

  1 2 3 4 5

  c7 = (close > 3*Average(Average[DHigh(0)-Dlow(0)]+Average[DHigh(1)-Dlow(1)+Average[DHigh(2)-Dlow(2)+Average[DHigh(3)-Dlow(3)+Average[DHigh(4)-Dlow(4)+Average[DHigh(5)-Dlow(5)+Average[DHigh(6)-Dlow(6)]]]]]]))   IF c7 THEN SELL AT MARKET ENDIF

  VERSUS

  SET TARGET PROFIT (close > 3*Average(Average[DHigh(0)-Dlow(0)]+Average[DHigh(1)-Dlow(1)+Average[DHigh(2)-Dlow(2)+Average[DHigh(3)-Dlow(3)+Average[DHigh(4)-Dlow(4)+Average[DHigh(5)-Dlow(5)+Average[DHigh(6)-Dlow(6)]]]]]]))

  1	SET TARGET PROFIT (close > 3*Average(Average[DHigh(0)-Dlow(0)]+Average[DHigh(1)-Dlow(1)+Average[DHigh(2)-Dlow(2)+Average[DHigh(3)-Dlow(3)+Average[DHigh(4)-Dlow(4)+Average[DHigh(5)-Dlow(5)+Average[DHigh(6)-Dlow(6)]]]]]]))

    // Stop Loss

  c9 = (close < 1.5*Average(Average[DHigh(0)-Dlow(0)]+Average[DHigh(1)-Dlow(1)+Average[DHigh(2)-Dlow(2)+Average[DHigh(3)-Dlow(3)+Average[DHigh(4)-Dlow(4)+Average[DHigh(5)-Dlow(5)+Average[DHigh(6)-Dlow(6)]]]]]])) IF c9 THEN SELL AT MARKET ENDIF

  1 2 3 4 5

  c9 = (close < 1.5*Average(Average[DHigh(0)-Dlow(0)]+Average[DHigh(1)-Dlow(1)+Average[DHigh(2)-Dlow(2)+Average[DHigh(3)-Dlow(3)+Average[DHigh(4)-Dlow(4)+Average[DHigh(5)-Dlow(5)+Average[DHigh(6)-Dlow(6)]]]]]]))   IF c9 THEN SELL AT MARKET ENDIF

  VERSUS

  SET STOP LOSS (close < 1.5*Average(Average[DHigh(0)-Dlow(0)]+Average[DHigh(1)-Dlow(1)+Average[DHigh(2)-Dlow(2)+Average[DHigh(3)-Dlow(3)+Average[DHigh(4)-Dlow(4)+Average[DHigh(5)-Dlow(5)+Average[DHigh(6)-Dlow(6)]]]]]]))

  1	SET STOP LOSS (close < 1.5*Average(Average[DHigh(0)-Dlow(0)]+Average[DHigh(1)-Dlow(1)+Average[DHigh(2)-Dlow(2)+Average[DHigh(3)-Dlow(3)+Average[DHigh(4)-Dlow(4)+Average[DHigh(5)-Dlow(5)+Average[DHigh(6)-Dlow(6)]]]]]]))

  Many thanks in advance for your advice Frank  

  

  Frank

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  05/04/2020 at 7:24 PM #129911
  Vonasi

  Frank – Welcome to the forums…. but I’m guessing you didn’t bother to read the forum rules before submitting your first post.

  There are some simple rules that everyone using the forums is expected to follow. Your post has broken one or more of these rules.

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  I have edited your post where required. Please ensure that your future posts meet these few simple forum rules. 🙂

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  Frank

  

  Vonasi

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  05/04/2020 at 7:35 PM #129913
  Vonasi

  SELL AT MARKET simply sells at the opening price of the next candle. So if your exit conditions are met then that is what happens.

  You are using SET TARGET and SET STOP completely wrong. When using SET TARGET and SET STOP you are setting a distance from the trades opening price so they should be followed by a number and not a condition. If price moves this distance inter-candle then the trade will be closed.

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  Frank

  

  Vonasi

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  05/04/2020 at 7:40 PM #129914
  Frank

  Hi Vonasi,

  My apologies. I realized what I did, and tried to edit the post, but apparently once you submit it there is no way to edit it. Thank you very much for your feedback, It won’t happen again.

  Frank

   

  

  Frank

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  05/04/2020 at 8:39 PM #129918
  Vonasi

  You have 5 minutes to edit your post.

  I also now notice that you managed to also post in the wrong forum. I’ll move it to the correct forum but please try to follow the few simple rules with any future posts.

  1 user thanked author for this post.

  Frank

  

  Vonasi

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  05/05/2020 at 12:30 PM #130008
  Frank

  Hi Vonasi,

  Thanks. Again, sorry about that. Now I know.

   

   

   

  

  Frank

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