trailing stop based on higher lows

Viewing 6 posts - 1 through 6 (of 6 total)
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    Posts
  • 04/04/2022 at 11:33 AM #191155 quote
    Swisspatrick
    Participant
    New

    hi! Need a little help for an individual stoploss. let’s take a simple setup for an entry condition:

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    3
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    PatternToday = range > 5*PipSize   //range = high – low
    IF high > high[1] AND PatternToday[1] AND Not OnMarket THEN
       BUY 1 CONTRACT AT MARKET
    ENDIF

    now I would like to build a simple, but effective trailing stoploss just like in the image:

    • after the entry, the first stop will be the low of the entry bar
    • if the next bar’s low is higher, then this will become the new stoploss level
    • if the next bar’s low is not higher, either the old stoploss level will remain, or like in the graphic, it will trigger a sell order

    any help is much appreciated. Thank you.

    higher-lows.jpg higher-lows.jpg
    04/04/2022 at 3:54 PM #191186 quote
    robertogozzi
    Moderator
    Master

    There you go:

    IF Not OnMarket THEN
   MySL = 0
ENDIF
IF MyLongConditions THEN
   BUY 1 CONTRACT AT Market
   MySL = low
ENDIF
IF MySL > 0 THEN
   MySL = max(MySL,low)
   SELL AT MySL STOP
ENDIF
    Midlanddave, Swisspatrick and icharttop thanked this post
    04/04/2022 at 6:54 PM #191196 quote
    GraHal
    Participant
    Master

    Link to code above saved as Log 317 here …

    Snippet Link Library

    robertogozzi and Midlanddave thanked this post
    07/21/2022 at 7:01 PM #197655 quote
    sibeihotan
    Participant
    New

    Hi,

    Chanced upon this idea and found it to be really useful. I wanted to make some tweaks to it and would greatly appreciate some help to double check if I’ve coded it correctly. If i wanted the stop loss to be at the lows/highs of the previous candle instead of the entry candle and for subsequent candles, to be at the lows/highs of the previous candles as well, is this the correct code for it?

    IF Not OnMarket THEN
MySLl = 0
MySLs = 0
ENDIF

IF LONGONMARKET THEN
MySLl = low[1]
ENDIF

IF MySLl > 0 THEN
MySLl = max(MySLl,low[1])
SELL AT MySLl STOP
ENDIF

IF SHORTONMARKET THEN
MySLs = high[1]
ENDIF

IF MySLs > 0 THEN
MySLs = min(MySLs,high[1])
BUY AT MySLs STOP
ENDIF

    Thanks in advance!

    07/22/2022 at 12:14 PM #197711 quote
    robertogozzi
    Moderator
    Master

    I changed it this way:

    IF Not OnMarket THEN
   MySLl = 0
   MySLs = 999999
ENDIF
 
IF LONGONMARKET AND (close > low[1]) THEN
   MySLl = max(low[1],MySLl)
ENDIF
 
IF MySLl > 0 THEN
   SELL AT MySLl STOP
ENDIF
 
IF SHORTONMARKET AND (close < high[1]) THEN
   MySLs = min(MySLs,high[1])
ENDIF
 
IF MySLs > 0 THEN
   BUY AT MySLs STOP
ENDIF
    sibeihotan and Midlanddave thanked this post
    07/22/2022 at 3:20 PM #197718 quote
    GraHal
    Participant
    Master

    Link to above added as Log 331 here …

    Snippet Link Library

    robertogozzi and Midlanddave thanked this post
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trailing stop based on higher lows


ProOrder: Automated Strategies & Backtesting

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Author
author-avatar
Swisspatrick @swisspatrick Participant
Summary

This topic contains 5 replies,
has 4 voices, and was last updated by GraHal
3 years, 7 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 04/04/2022
Status: Active
Attachments: 1 files
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