Hello all,
My name is Michael and I have a question.
In ProRealTime, after you’re in a position you have the possibility to set a Trailing Stop (fixed or in %). You also have the possibility to set a Profit Target. However, is there a possibility to also have a Trailing Profit Target?
Thanks for your help in advance!
Hi,
A little bit more patience, it is coming very soon
(I move this topic from probuilder forum to proorder forum)
Hi JC_Bywan,
Thankyou for your quick reply. That’s great to hear, I’m looking forward to it.
Regards,
Hi JC_Bywan,
I was curious as to whether there is any more information available when this Trailing Stop Profit Target will be available?
Thanks!
Hi, here they are in Nicolas’ post from last March, if they don’t get a syntax error when you type them in your proorder/probacktest code editor, then they are deployed with your PRT version: https://www.prorealcode.com/topic/new-trading-instructions-better-management-of-your-orders/
Hi,
Thank you for your quick reply! Which one should be used for the Trailing Profit Target?
Michael.
Hi,
any of these below, with the flexibility of combining them with “if” statements for your trailing rules ending up defining variable X:
- Set Stop Price X : Allows to set a stop at a price X defined directly by the user and not in relation to the entry price of the position.
- Set Stop pProfit/%Profit/$Profit/Profit X : Allows to set a stop at X points / % / € / unit above the entry price of the position.
For example, if you want to raise the trailing profit level by 5 points each time your price is 40 points above the trailing profit level :
EntryConditions= ...
IF NOT LongOnMarket AND EntryConditions THEN
BUY 1 CONTRACTS AT MARKET
trailingprofitlevel=lowest[20](low)-5*pipsize//just an example to start from, replace with your start
ENDIF
ExitConditions= ...
If LongOnMarket AND ExitConditions THEN
SELL AT MARKET
ENDIF
// Stops et objectifs
if LongOnMarket AND close-trailingprofitlevel>40*pipsize then
trailingprofitlevel=trailingprofitlevel[1]+5*pipsize
endif
set stop price trailingprofitlevel
graph trailingprofitlevel
Hi,
Thankyou for your quick answer and your explanation!
Regards,
Michael.
Hi JC Bywan,
Is there a way to the reduce the initial value on “Set stop ptrailing” step by step? either after a set number of bars or by time?
Regards
Lars
Hi, there’s no ptrailing in the new instructions? Not sure if it’s a typo and you’re talking about set stop price X, with X used as a custom trailing level variable, or set stop pProfit, or the old set stop trailing instruction (which personnally I don’t use and find less useful than the new ones).
But yes, with set stop price X for example, you can imagine any condition you’d like within “if” statements to modify X step by step, can be number of bars(horizontal axis), can be progress made (vertical axis), can be time, can be something crossing something else (event)…
