Take profit based on the entry

• 11/24/2021 at 4:25 AM #182176
  Amin1233

  Hi I am trying to set the target profit based on the difference from my entry and the lowest point of the last bar. Any idea why it is not working?

  if close[0]>open[1] then

  TL=30-(close[0]-lowest[1])

  buy 10 contracts at  market

  set target profit TL

  endif

  

  Amin1233

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  11/24/2021 at 11:43 AM #182207
  robertogozzi

  In line 2 how can you be sure the prior LOW is lower than current CLOSE and that 30 is greater than that difference? I suggest that you use:

  TL=abs(30-abs(close[0]-lowest[1]))

  1	TL=abs(30-abs(close[0]-lowest[1]))

  Furthermore, what is 30? Is it a price difference or pips (in some cases it can be the same, but it’s better to code it correctly).
  If it’s pips then use:

  TL=abs(30*PipSize-abs(close[0]-lowest[1]))

  1	TL=abs(30*PipSize-abs(close[0]-lowest[1]))

  it will make no difference if used with DOW, DAX, etc…, but will make a huge one with most currency pairs.

  

  robertogozzi

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