Hi all,
I have two related questions about stop-loss and trailing stops in ProRealTime:
- Does ProRealTime have any plans to add “steps” to the default stop-loss and trailing stop features?
For example, a trailing stop that moves only after the price has moved a certain number of points (a step), so that every time it moves X points it steps up by X points.
- In the meantime, does anyone know how to write ProRealTime code so that whenever there is an open position, the stop code is automatically applied to it — even if the position was opened manually?
I’ve tried using some example code from this website, but in that code a Buy/Sell command needs to be part of the code, which means that if I open a position manually, the trailing stop doesn’t apply.
What I want is something like this:
- A “trailing stop” with a 100-point step, but not constantly trailing — only one movement.
- In other words, as soon as the position is X points in profit (e.g., 100 points), the stop moves to break-even and then stays there.
So if the market moves 100 points in my favour, the stop automatically moves to break-even and then stays there (no further trailing).
If anyone has code for this — or knows how to implement it in ProRealTime — I’d really appreciate your help.
Thanks!
- The native PRT Stop Loss does move by 1 point (for 1 point profit) after exceeding, for example, 100 as: Set Stop pTrailing 100.
- See next post.
Anybody wanting to do a more comprehensive answer, please feel free.
Credit / Thanks for below goes to @JS
If longonmarket then
StopdistanceBreakeven = A154 //20
NormalStop = A155 //60
nb = barindex - tradeindex
minprice = lowest[nb + 1](Low)
maxprice = highest[nb + 1](High)
If maxprice >= positionprice + StopdistanceBreakeven then
sell at positionprice stop
else
sell at POSITIONPRICE - NormalStop stop
endif
endif
If shortonmarket then
StopdistanceBreakeven = A176 //20
NormalStop = A177 //60
nb = barindex - tradeindex
minprice = lowest[nb + 1](Low)
maxprice = highest[nb + 1](High)
If minprice <= positionprice - StopdistanceBreakeven then
exitshort at positionprice stop
else
exitshort at positionprice + NormalStop stop
endif
endif
Here you have another example:
// ===========================
// Trail Stop steps
// ===========================
triggerDistance = 100
if not onmarket then
MoveToBreakEven=0
endif
// Example entry condition
IF NOT ONMARKET AND close CROSSES OVER Average[20](close) THEN
BUY 1 CONTRACT AT MARKET
stoploss = close-triggerDistance*pointsize
newStopLevel = close + (triggerDistance * pointsize)
set stop price stoploss
ENDIF
// Management of open position
IF LONGONMARKET THEN
// Check if profit is greater or equal to trigger distance
IF close >= newStopLevel and MoveToBreakEven=0 THEN
MoveToBreakEven=1
stoploss=positionprice //breakeven
newStopLevel = newStopLevel+triggerDistance*pointsize
set stop price stoploss
ENDIF
if close >= newStopLevel + (triggerDistance * pointsize) and MoveToBreakEven=1 then
stoploss = newStopLevel
newStopLevel = newStopLevel+triggerDistance*pointsize
set stop price stoploss
endif
ENDIF
// ===========================
// Graphic
// ===========================
// Trailing Stop and Next Level
graphonprice newStopLevel coloured(0, 0, 255) AS "NextLevel"
graphonprice stoploss coloured(255, 0, 0) AS "Trail Stop"
// Moving Average
graphonprice Average[20](close) coloured(255, 165, 0) AS "SMA"
Thanks, where should I copy this code? When I create a new startegy system with this code it says I need at least one instruction to enter the market.
I want to enter the market then change the native PRT stop loss to move by 100 points instead of 1 point. It is like IG platform trailing stop where you can set Step to 100
I just figured out how to adjust the step to 100. After entering market with trailing stop , click on the stop and in the modify section you can adjust the steps.
Hi, I have made some modifications and a version for shorts
// ===========================
// Trail Stop steps
// ===========================
triggerDistanceProfit = 20
triggerDistanceLoss = 15
MinimumProfit=20
MaxLoss=100
if not onmarket then
MoveToBreakEven=0
endif
// Example entry condition
IF NOT ONMARKET AND close CROSSES OVER Average[20](close) THEN
BUY 1 CONTRACT AT MARKET
stoploss = close-maxloss-(triggerDistanceLoss *pointsize)
newStopLevel = close + (triggerDistanceProfit * pointsize)
set stop price stoploss
ENDIF
// Management of open position
IF LONGONMARKET THEN
// Check if profit is greater or equal to trigger distance
IF close >= (newStopLevel + MinimumProfit) and MoveToBreakEven=0 THEN
MoveToBreakEven=1
stoploss=positionprice + Minimumprofit //Stoploss with small profit
newStopLevel = newStopLevel+triggerDistanceProfit*pointsize
set stop price stoploss
ENDIF
if close >= newStopLevel + (triggerDistanceProfit * pointsize) and MoveToBreakEven=1 then
stoploss = newStopLevel
newStopLevel = newStopLevel+triggerDistanceProfit*pointsize
set stop price stoploss
endif
ENDIF
IF NOT ONMARKET AND close CROSSES under Average[50](close) THEN
SELLSHORT 1 CONTRACT AT MARKET
stoploss = close+maxloss+(triggerDistanceLoss *pointsize)
newStopLevel = close - (triggerDistanceProfit * pointsize)
set stop price stoploss
ENDIF
// Management of open position
IF shortonmarket THEN
// Check if profit is greater or equal to trigger distance
IF close <= (newStopLevel - MinimumProfit) and MoveToBreakEven=0 THEN
MoveToBreakEven=1
stoploss=positionprice - Minimumprofit //Stoploss with small profit
newStopLevel = newStopLevel-triggerDistanceProfit*pointsize
set stop price stoploss
ENDIF
if close <= newStopLevel - (triggerDistanceProfit * pointsize) and MoveToBreakEven=1 then
stoploss = newStopLevel
newStopLevel = newStopLevel-triggerDistanceProfit*pointsize
set stop price stoploss
endif
ENDIF
// ===========================
// Graphic
// ===========================
// Trailing Stop and Next Level
graphonprice newStopLevel coloured(0, 0, 255) AS "NextLevel"
graphonprice stoploss coloured(255, 0, 0) AS "Trail Stop"
// Moving Average
graphonprice Average[20](close) coloured(255, 165, 0) AS "SMA20"
graphonprice Average[50](close) coloured(0, 165, 0) AS "SMA50"
Very nice, will create a new code snippets post with these new trailing stop functions. Thanks for contribution.
@DeathMetal
Congrats, your full strategy with the trailing stop Steps is now featured in the Snippets codes list. If you ever have any good examples of re-usable code parts for prorealtime, you can share them there.
Here it is: https://www.prorealcode.com/snippet/how-to-build-a-step-based-trailing-stop-that-moves-to-break-even-first/
Hi,
The credits are for Ivan, he has made the base.
HELLO Mr
Thank you for your program change, but when I copy
On my computer, PRT M4 indicates an error on line 15. Could you tell me how to fix it?
Thank you, I look forward to your reply.
EDOUARD TEIXEIRA
Teixeira wrote: A MISTAKE LINE 15
Please can you post a screenshot of the error message you are seeing?
Above will help us to help you.
