Trailing stop as a percentage for control

• 11/16/2021 at 8:53 PM #181693
  phoentzs

  Hello, I know there are already a lot of topics about trailing stops. Only some of them are equipped with extra functions that unfortunately I don’t really understand the code. I’m not a programmer …
  Based on Nicolas Code, I separated this into long and short with the help of Roberto and also built in a distance. This is to prevent the trailing from working below the minimum distance of the broker or exiting beforehand.
  Now I have tried to change this code from points to percent myself.
  Can an experienced programmer have a look over here? Does the code reliably do what it should? Without surprises?

  //************************************************************************ //trailing stop function percentageLong = startl percentageShort = starts percentagestepL = stepl percentageStepS = steps trailingStartL = (close/100)*percentageLong trailingStartS = (close/100)*percentageShort trailingStepL = (close/100)*percentageStepL trailingStepS = (close/100)*percentageStepS Distance = 7 * PipSize //7 //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstartL*pipsize THEN newSL = tradeprice(1)+trailingstepL*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstepL*pipsize THEN newSL = newSL+trailingstepL*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstartS*pipsize THEN newSL = tradeprice(1)-trailingstepS*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstepS*pipsize THEN newSL = newSL-trailingstepS*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN IF LongOnMarket THEN IF (close - Distance) > newSL THEN SELL AT newSL STOP ELSIF (close + Distance) < newSL THEN SELL AT newSL LIMIT ELSE SELL AT Market ENDIF ELSIF ShortOnMarket THEN IF (close - Distance) > newSL THEN EXITSHORT AT newSL LIMIT ELSIF (close + Distance) < newSL THEN EXITSHORT AT newSL STOP ELSE EXITSHORT AT Market ENDIF ENDIF endif //************************************************************************

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63

  //************************************************************************ //trailing stop function percentageLong   = startl percentageShort  = starts percentagestepL  = stepl percentageStepS  = steps trailingStartL  = (close/100)*percentageLong trailingStartS  = (close/100)*percentageShort trailingStepL   = (close/100)*percentageStepL trailingStepS   = (close/100)*percentageStepS   Distance       = 7 * PipSize //7   //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF   //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstartL*pipsize THEN newSL = tradeprice(1)+trailingstepL*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstepL*pipsize THEN newSL = newSL+trailingstepL*pipsize ENDIF ENDIF   //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstartS*pipsize THEN newSL = tradeprice(1)-trailingstepS*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstepS*pipsize THEN newSL = newSL-trailingstepS*pipsize ENDIF ENDIF   //stop order to exit the positions IF newSL>0 THEN IF LongOnMarket THEN IF (close - Distance) > newSL THEN SELL             AT newSL STOP ELSIF (close + Distance) < newSL THEN SELL             AT newSL LIMIT ELSE SELL             AT Market ENDIF ELSIF ShortOnMarket THEN IF (close - Distance) > newSL THEN EXITSHORT AT newSL LIMIT ELSIF (close + Distance) < newSL THEN EXITSHORT AT newSL STOP ELSE EXITSHORT AT Market ENDIF ENDIF endif //************************************************************************

  

  phoentzs

  Participant

  Topics: 86

  Replies: 982

  Been thanked: 210 times
  11/16/2021 at 9:10 PM #181695
  robertogozzi

  The way it is written now, it always changes values each bar, which must not happen.

  Moreover I suggest that TRADEPRICE be used, instead of close, to calculate percentages.

  In addition you have to add PIPSIZE to calculatations.

  Replace lines 3-10 with these ones:

  NewTrade = (OnMarket AND Not OnMarket[1]) OR (LongOnMarket AND ShortOnMarket[1]) OR (LongOnMarket[1] AND ShortOnMarket) //True when there's been a change in the direction (likely to be due to a Stop & Reverse) or a new trade has been just opened If NewTrade Then percentageLong  = startl percentageShort = starts percentagestepL = stepl percentageStepS = steps trailingStartL  = (TradePrice/100)*percentageLong/PipSize trailingStartS  = (TradePrice/100)*percentageShort/PipSize trailingStepL   = (TradePrice/100)*percentageStepL/PipSize trailingStepS   = (TradePrice/100)*percentageStepS/PipSize  Endif

  1 2 3 4 5 6 7 8 9 10 11

  NewTrade = (OnMarket AND Not OnMarket[1]) OR (LongOnMarket AND ShortOnMarket[1]) OR (LongOnMarket[1] AND ShortOnMarket)  //True when there's been a change in the direction (likely to be due to a Stop & Reverse) or a new trade has been just opened If NewTrade Then    percentageLong  = startl    percentageShort = starts    percentagestepL = stepl    percentageStepS = steps    trailingStartL  = (TradePrice/100)*percentageLong/PipSize    trailingStartS  = (TradePrice/100)*percentageShort/PipSize    trailingStepL   = (TradePrice/100)*percentageStepL/PipSize    trailingStepS   = (TradePrice/100)*percentageStepS/PipSize  Endif

   

  1 user thanked author for this post.

  phoentzs

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17531

  Been thanked: 4284 times
  11/16/2021 at 9:13 PM #181696
  nonetheless

  I think lines 7 – 10 need to be (tradeprice/100) or (positionprice/100) rather than (close/100)

  otherwise, surely it’s going to read each new close and start measuring from there. the trail will only start if it gets to the trailingstart distance in one candle.

  (Roberto got in before me!)

  

  nonetheless

  Participant

  Topics: 83

  Replies: 1237

  Been thanked: 978 times
  11/16/2021 at 9:19 PM #181698
  phoentzs

  Thanks Roberto, I’ll try.

  @nonethless: Doesn’t every trailing stop do that? I also like their trailing stop, but I miss the function of distance, i.e. the minimum distance.

  

  phoentzs

  Participant

  Topics: 86

  Replies: 982

  Been thanked: 210 times
  11/16/2021 at 9:24 PM #181699
  nonetheless

  no, it should measure from the entry price (tradeprice or positionprice) which doesn’t change. positionprice will change if you use cumulative orders, but the trail then measures from the aggregate.

  the minimum distance can also be resolved by ticking the box that says ‘Readjust stops’ when you launch the code. Then PRT automatically keeps your trail and SL at the min distance.

  

  nonetheless

  Participant

  Topics: 83

  Replies: 1237

  Been thanked: 978 times
  11/16/2021 at 9:34 PM #181701
  phoentzs

  I tried that. It works on the live account. But it often doesn’t work on the demo account. At least for me. I do not know why. That’s why I wanted a second solution.

  

  phoentzs

  Participant

  Topics: 86

  Replies: 982

  Been thanked: 210 times
  11/16/2021 at 9:45 PM #181703
  nonetheless

  you might also experiment with:

  //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND high-tradeprice(1)>=trailingstartL*pipsize THEN newSL = tradeprice(1)+trailingstepL*pipsize ENDIF //next moves IF newSL>0 AND high-newSL>=trailingstepL*pipsize THEN newSL = newSL+trailingstepL*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-low>=trailingstartS*pipsize THEN newSL = tradeprice(1)-trailingstepS*pipsize ENDIF //next moves IF newSL>0 AND newSL-low>=trailingstepS*pipsize THEN newSL = newSL-trailingstepS*pipsize ENDIF ENDIF

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

  //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND high-tradeprice(1)>=trailingstartL*pipsize THEN newSL = tradeprice(1)+trailingstepL*pipsize ENDIF //next moves IF newSL>0 AND high-newSL>=trailingstepL*pipsize THEN newSL = newSL+trailingstepL*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-low>=trailingstartS*pipsize THEN newSL = tradeprice(1)-trailingstepS*pipsize ENDIF //next moves IF newSL>0 AND newSL-low>=trailingstepS*pipsize THEN newSL = newSL-trailingstepS*pipsize ENDIF ENDIF

  uses high and low as a trigger instead of close, so it goes to breakeven more quickly. ‘close’ sometimes produces more profit whereas using ‘high,low’ is more protective, higher % win – depends on which you prioritise.

  3 users thanked author for this post.

  Midlanddave, phoentzs

  

  nonetheless

  Participant

  Topics: 83

  Replies: 1237

  Been thanked: 978 times
  11/16/2021 at 10:02 PM #181704
  phoentzs

  In a quick direct comparison, your trailing stop is worlds better and takes a lot more profits. I have to check that with a little more time to find out why. Unfortunately I don’t have any more time today.

  

  phoentzs

  Participant

  Topics: 86

  Replies: 982

  Been thanked: 210 times
• Author
  Posts