Trailing Profit Target

• 01/13/2022 at 6:23 PM #185361
  MichaelT

  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!

  

  MichaelT

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  01/13/2022 at 7:03 PM #185362
  JC_Bywan

  Hi,

  A little bit more patience, it is coming very soon

  (I move this topic from probuilder forum to proorder forum)

  

  JC_Bywan

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  01/14/2022 at 6:50 PM #185492
  MichaelT

  Hi JC_Bywan,

  Thankyou for your quick reply. That’s great to hear, I’m looking forward to it.

  Regards,

  

  MichaelT

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  05/03/2022 at 4:40 PM #192609
  MichaelT

  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!

  

  MichaelT

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  05/03/2022 at 4:53 PM #192610
  JC_Bywan

  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/

  

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  05/03/2022 at 5:06 PM #192612
  MichaelT

  Hi,

  Thank you for your quick reply! Which one should be used for the Trailing Profit Target?

  Michael.

  

  MichaelT

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  05/04/2022 at 6:59 AM #192622
  JC_Bywan

  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

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22

  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

   

   

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  JC_Bywan

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  05/05/2022 at 8:55 AM #192724
  MichaelT

  Hi,

  Thankyou for your quick answer and your explanation!

  Regards,

  Michael.

  

  MichaelT

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  05/12/2022 at 5:27 PM #193128
  ulven

  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

  

  ulven

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  05/13/2022 at 7:00 AM #193136
  JC_Bywan

  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)…

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