Trailing stop by point

• 03/11/2021 at 9:53 AM #163800
  Alfred

  Hi all

  I would like to set a trailing stop by point.

  Such as, DJI, open at 30000 point, target 100 pt and loss 100 pt.

  Sometimes, only 95 pt then drop to stop loss.

  I want to set the openprice + 80 pt = trailing stop to guarantee the point to avoid these situation occur.

  And the stop loss 100pt is unchange.  Anyone can help?

  set target profit 100 set stop ploss 100 //%trailing stop function SET stop pTRAILING [????] + 80

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  set target profit 100 set stop ploss 100   //%trailing stop function SET stop pTRAILING  [????] + 80

  Thanks.

  

  Alfred

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  03/11/2021 at 10:30 AM #163810
  jebus89

  Youre looking for the MFE stop loss i believe! Its on this forum, also grahal has a bunch of different trailing stop loss i think in his library. Should be able to find a lind for that by searching.

  

  jebus89

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  03/11/2021 at 11:41 AM #163822
  nonetheless

  Here’s a few options for you, Trailing by Points, by % or by MFE, as Jebus has suggested – take your pick.

  //points trailing stop function trailingstart = tst //trailing will start @trailinstart points profit trailingstep = st //trailing step to move the "stoploss" //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)>=trailingstart*pipsize THEN newSL = tradeprice(1)+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN newSL = newSL+trailingstep*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN newSL = tradeprice(1)-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN newSL = newSL-trailingstep*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF //************************************************************************ // % trailing stop function once trailingstop = 1 if trailingstop then trailingpercentlong = tsl // % trailingpercentshort = tss // % stepPercentlong = stl stepPercentshort = sts tssensitivity=2 // 1 = close 2 = High/Low 3 = Low/High 4 = typicalprice if onmarket then trailingstartlong = tradeprice(1)*(trailingpercentlong/100) //trailing will start @trailingstart points profit trailingstartshort = tradeprice(1)*(trailingpercentshort/100) //trailing will start @trailingstart points profit trailingsteplong = tradeprice(1)*(stepPercentlong/100) //% step to move the stoploss trailingstepshort = tradeprice(1)*(stepPercentshort/100) //% step to move the stoploss endif //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF if tssensitivity=1 then tssensitivitylong=close tssensitivityshort=close elsif tssensitivity=2 then tssensitivitylong=high tssensitivityshort=low elsif tssensitivity=3 then tssensitivitylong=low tssensitivityshort=high elsif tssensitivity=4 then tssensitivitylong=typicalprice tssensitivityshort=typicalprice endif //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND tssensitivitylong-tradeprice(1)>=trailingstartlong THEN newSL = tradeprice(1)+trailingsteplong ENDIF //next moves IF newSL>0 AND tssensitivitylong-newSL>trailingsteplong THEN newSL = newSL+trailingsteplong ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-tssensitivityshort>=trailingstartshort THEN newSL = tradeprice(1)-trailingstepshort ENDIF //next moves IF newSL>0 AND newSL-tssensitivityshort>trailingstepshort THEN newSL = newSL-trailingstepshort ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF endif //************************************************************************ //MFE trailing stop trailingstop = 20 //resetting variables when no trades are on market if not onmarket then MAXPRICE = 0 MINPRICE = close priceexit = 0 endif //case SHORT order if shortonmarket then MINPRICE = MIN(MINPRICE,close) //saving the MFE of the current trade if tradeprice(1)-MINPRICE>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then priceexit = MINPRICE+trailingstop*pointsize //set the exit price at the MFE + trailing stop price level endif endif //case LONG order if longonmarket then MAXPRICE = MAX(MAXPRICE,close) //saving the MFE of the current trade if MAXPRICE-tradeprice(1)>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then priceexit = MAXPRICE-trailingstop*pointsize //set the exit price at the MFE - trailing stop price level endif endif //exit on trailing stop price levels if onmarket and priceexit>0 then EXITSHORT AT priceexit STOP SELL AT priceexit STOP endif

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  //points trailing stop function trailingstart = tst //trailing will start @trailinstart points profit trailingstep = st //trailing step to move the "stoploss" //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)>=trailingstart*pipsize THEN newSL = tradeprice(1)+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN newSL = newSL+trailingstep*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN newSL = tradeprice(1)-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN newSL = newSL-trailingstep*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF     //************************************************************************       // % trailing stop function once trailingstop = 1 if trailingstop then   trailingpercentlong  = tsl // % trailingpercentshort = tss // % stepPercentlong = stl stepPercentshort = sts tssensitivity=2 // 1 = close 2 = High/Low 3 = Low/High 4 = typicalprice if onmarket then trailingstartlong = tradeprice(1)*(trailingpercentlong/100) //trailing will start @trailingstart points profit trailingstartshort = tradeprice(1)*(trailingpercentshort/100) //trailing will start @trailingstart points profit trailingsteplong = tradeprice(1)*(stepPercentlong/100) //% step to move the stoploss trailingstepshort = tradeprice(1)*(stepPercentshort/100) //% step to move the stoploss endif   //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF   if tssensitivity=1 then tssensitivitylong=close tssensitivityshort=close elsif tssensitivity=2 then tssensitivitylong=high tssensitivityshort=low elsif tssensitivity=3 then tssensitivitylong=low tssensitivityshort=high elsif tssensitivity=4 then tssensitivitylong=typicalprice tssensitivityshort=typicalprice endif //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND tssensitivitylong-tradeprice(1)>=trailingstartlong THEN newSL = tradeprice(1)+trailingsteplong ENDIF //next moves IF newSL>0 AND tssensitivitylong-newSL>trailingsteplong THEN newSL = newSL+trailingsteplong ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-tssensitivityshort>=trailingstartshort THEN newSL = tradeprice(1)-trailingstepshort ENDIF //next moves IF newSL>0 AND newSL-tssensitivityshort>trailingstepshort THEN newSL = newSL-trailingstepshort ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF endif   //************************************************************************   //MFE trailing stop trailingstop = 20 //resetting variables when no trades are on market if not onmarket then MAXPRICE = 0 MINPRICE = close priceexit = 0 endif //case SHORT order if shortonmarket then MINPRICE = MIN(MINPRICE,close) //saving the MFE of the current trade if tradeprice(1)-MINPRICE>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then     priceexit = MINPRICE+trailingstop*pointsize //set the exit price at the MFE + trailing stop price level endif endif //case LONG order if longonmarket then MAXPRICE = MAX(MAXPRICE,close) //saving the MFE of the current trade if MAXPRICE-tradeprice(1)>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then   priceexit = MAXPRICE-trailingstop*pointsize //set the exit price at the MFE - trailing stop price level endif endif //exit on trailing stop price levels if onmarket and priceexit>0 then EXITSHORT AT priceexit STOP SELL AT priceexit STOP endif

   

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  Alfred

  

  nonetheless

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  03/11/2021 at 3:27 PM #163849
  jebus89

  I personally am the most fan of the MFE modified to start after XX pips in profit!

  So if you are +50 pips in profit = no trailing stop loss

  but if that same trade goes +100 pips in profit = actiavte a MFE trailing stop loss.

  

  jebus89

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  03/11/2021 at 3:51 PM #163850
  Alfred

  Thanks, let me try try 🙂

  

  Alfred

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  03/11/2021 at 4:54 PM #163860
  Alfred

  I amended line 127 and 135

  to priceexit = tradeprice + – trailingstop*pointsize

  It is my needs! Thanks.

  

  Alfred

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  03/11/2021 at 5:32 PM #163868
  GraHal

  jebus89 wrote:

  Should be able to find a lind for that by searching.

  Snippet Link Library

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  GraHal

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