Trailing stop by point

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

jebus89 wrote:

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

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