Stop trading for the day if losses are too big without QUIT

• 06/30/2022 at 6:37 PM #196488
  Raspberri

   

  Hi all, I am looking for a way to temporarily stop the strategy from trading once losses have reached a certain amount for a certain amount of time without using QUIT and having to restart the strategy again. The strategy runs on a 5min timeframe.

  The workaround I was trying was to use was to go onto a higher timeframe of 1h and add strategyprofit for the last 3 hours and make “AND NOT pause” a condition to open trades. If strategy profit for the last 3 bars is below a certain number, e.g. -500, it should not open new positions. In my mind, it should then start trading again after a while since strategyprofit[3], [2] and [1] should all be 0.

   

  However, this does not work.

   

  Does anyone know how to solve the issue?

   

  Thanks!

  <!–more–>

  timeframe(1 hour, updateonclose) SP3 = strategyprofit[3] SP2 = strategyprofit[2] SP1 = strategyprofit[1] SumSP = p1 + p2 + p3 pause = (SumSP <= -500) timeframe(default)

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  timeframe(1 hour, updateonclose)   SP3 = strategyprofit[3] SP2 = strategyprofit[2] SP1 = strategyprofit[1] SumSP = p1 + p2 + p3 pause = (SumSP <= -500)   timeframe(default)

   

  <!–more–>

  

  Raspberri

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  07/01/2022 at 9:17 AM #196510
  robertogozzi

  Try this one (it will pause 1 hour after a big loss):

  DEFPARAM CumulateOrders = False // timeframe(1 hour, updateonclose) ONCE MyProfit = 0 pause = 0 IF Not OnMarket THEN MyProfit = StrategyProfit SumSP = StrategyProfit - MyProfit[1] pause = (SumSP <= -500) ENDIF // timeframe(default) IF close CROSSES OVER average[200] AND Not OnMarket AND Not Pause THEN BUY AT MARKET ENDIF SET TARGET pPROFIT 50 SET STOP pLOSS 20 graph pause graph SumSP

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  DEFPARAM CumulateOrders = False // timeframe(1 hour, updateonclose) ONCE MyProfit = 0 pause = 0 IF Not OnMarket THEN    MyProfit = StrategyProfit    SumSP    = StrategyProfit - MyProfit[1]    pause = (SumSP <= -500) ENDIF // timeframe(default) IF close CROSSES OVER average[200] AND Not OnMarket AND Not Pause THEN    BUY AT MARKET ENDIF SET TARGET pPROFIT 50 SET STOP   pLOSS   20 graph pause graph SumSP

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  Raspberri

  

  robertogozzi

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  07/01/2022 at 10:37 AM #196516
  GraHal

  Link to above added as Log 325 here …

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  GraHal

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  07/02/2022 at 1:29 PM #196618
  Raspberri

  This is exactly what I was looking for – thanks! 🙂

  

  Raspberri

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  07/02/2022 at 2:05 PM #196619
  Raspberri

  Just a quick question for my understanding: Why are we subtracting MyProfit[1] instead of adding it? If MyProfit is negative, e.g. -100, would using subtraction not lead to SumSP be “higher” than it actually is?

  Example:

  • StrategyProfit of previous 1h close was -500 -> MyProfit = StrategyProfit[1] = -500
  • StrategyProfit = 0
  • SumSP = 0 – -500 = 500 instead of -500?

  

  Raspberri

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  07/02/2022 at 3:16 PM #196628
  robertogozzi

  The two last GRAPH lines will show the answer.

   

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  robertogozzi

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