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Take profit based on the entry

Amin1233 · 2021-11-24T03:25:35+00:00

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

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ProOrder: Automated Strategies & Backtesting
Take profit based on the entry

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11/24/2021 at 4:25 AM #182176 quote

Amin1233
Participant

Junior

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

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

Legend
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]))
```
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]))
```
it will make no difference if used with DOW, DAX, etc…, but will make a huge one with most currency pairs.
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Take profit based on the entry

ProOrder: Automated Strategies & Backtesting

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Amin1233 @amin1233 Participant

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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
4 years, 10 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	11/24/2021
Status:	Active
Attachments:	No files

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Take profit based on the entry

Stuck on this ProBuilder code?

Take profit based on the entry ProOrder: Automated Strategies & Backtesting

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Take profit based on the entry

ProOrder: Automated Strategies & Backtesting