Trend Chaser Stop Loss

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  • #3599 quote
    MikeGC
    Participant
    Average

    I would like some assistance please, to code the stop losses for this system.  My idea is that when it takes a trade, say long, it will look back from the entry bar until it finds the previous swing low that is below the low of the entry bar.  If there isn’t one within say 100 bars, it will not take the trade.

    If it finds one, it will set the stop loss at 5 pips below it.

    As the bar closes progress up, the system will then continue to move the stop loss to the next swing low until the close of a bar is above the Super Trend.  The Super Trend will then become the stop loss and the close of the trade.

    Of course, the reverse will apply for the short trades.

    I have attached my code to date.  Any comments on that would also be appreciated.

    // Definition of code parameters
    DEFPARAM CumulateOrders = False // Cumulating positions deactivated
    
    // Indicators
    COI = CALL "MGC-Coppock"[14, 11, 10](close)
    MAC = MACDline[12,26,9](close)
    STO = Stochastic[14,3](close)
    ST = Supertrend[3.2,22]
    
    
    // Conditions to enter long positions
    c1 = COI > COI[1] AND COI < 0
    c2 = MAC > MAC[1]
    c3 = STO crosses over 20
    
    
    IF c1 AND c2 AND c3 THEN
    BUY 1 CONTRACT AT MARKET
    ENDIF
    
    // Conditions to exit long positions
    c5 = close crosses under ST
    
    IF c5 THEN
    SELL AT MARKET
    ENDIF
    
    // Conditions to enter short positions
    c11 = COI < COI[1] AND COI > 0
    c12 = MAC < MAC[1]
    c13 = STO crosses under 80
    
    IF c11 AND c12 AND c13 THEN
    SELLSHORT 1 CONTRACT AT MARKET
    ENDIF
    
    // Conditions to exit short positions
    c15 = close crosses over ST
    
    IF c15 THEN
    EXITSHORT AT MARKET
    ENDIF
    
    //Stops and Targets
    
    #3607 quote
    Nicolas
    Keymaster
    Master

    Hi Mike, could you please attach the MGC-Coppock indicator? (with the “Add Media” button) For testing purpose of the adapted code of your strategy. Thanks.

    #3612 quote
    MikeGC
    Participant
    Average
    #3613 quote
    MikeGC
    Participant
    Average

    Many thanks, Nicolas.  I have uploaded the code.

    #3616 quote
    MikeGC
    Participant
    Average

    Nicolas, the main reason I think the stop loss is appropriate is that my indicators sometimes give a false signal, a you will see if you run it on the EURAUD.  I have attached the pdf showing an excellent trade that was missed.  I have run this example for the year from 12/3/15 to 12/3/16.

    Would you like to escalate this to the Programming Services level, as I am happy to pay for your expert advice?

    Best regards,

    Mike

    Currencies – Mini S – EUR_AUD Mini (-) – 13-Mar-2016 09_58

    #3618 quote
    Nicolas
    Keymaster
    Master

    Mike, thanks for the files. I’ll investigate them and get back to you on Monday. For the progamming services purpose you can join me directly at prog@prorealcode.com

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Trend Chaser Stop Loss


ProOrder support

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MikeGC @mikegc Participant
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This topic contains 5 replies,
has 2 voices, and was last updated by Nicolas
9 years, 10 months ago.

Topic Details
Forum: ProOrder support
Language: English
Started: 03/12/2016
Status: Active
Attachments: No files
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