Trailing stops with previous highs and lows

chris · 2018-10-01T22:41:34+00:00

hello I’m looking to code a trailing stop based on previous lows for long positions and previous highs for short positions. I tested the following code for long positions which used price as the number of bps from the open; if longonmarket then SET STOP trailing lowest[5](low) endif I then tried the following, which didn’t seem to work either; if longonmarket then SET STOP trailing (close - lowest[a](low)) endif I’d greatly appreciate any tips or suggestions on how to solve this. Best Chris

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10/01/2018 at 11:41 PM #81720 quote
chris
Participant

Junior
hello

I’m looking to code a trailing stop based on previous lows for long positions and previous highs for short positions.

I tested the following code for long positions which used price as the number of bps from the open;
```
if longonmarket then
SET STOP trailing lowest[5](low)
endif
```
I then tried the following, which didn’t seem to work either;
```
if longonmarket then
SET STOP trailing (close - lowest[a](low))
endif
```
I’d greatly appreciate any tips or suggestions on how to solve this.

Best

Chris
10/02/2018 at 7:51 AM #81736 quote
Nicolas
Keymaster

Legend
You should avoid using the trailing stop internal function and prefer a coded one with STOP/LIMIT orders. An example in this blog article: Create stoploss with indicator informations in ProOrder

For a long order, your moving stoploss could be set like this:
```
if longonmarket then 
 sell at lowest[5](low) stop
endif
```
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