USDJPY automated MA trailing exit for discretionary short entry
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This code helps you to trail a discretionary short position in USDJPY or any other USDXXX pairs. You enter the level where you want to go short with a stop entry order and you enter the level where you want your stoploss. Additionally you enter the spread and your accountsize and the EURUSD conversion (for euro accounts). Your positionsize is calculated based on 0.5% risk of your accountsize. If you use a 1 minute timeframe, the stop entry order will be placed within a minute after running the strategy. You will be filled once the price hits your stop entry order. The stoploss order will now be placed with a 0.5% risk of your accountsize. Once the position comes into profit, half of your position will be exited when the close of the 1h chart crosses above the moving average 10. The remaining position will be closed once the close of the 1h chart crosses above the moving average 20. In case the 1h closes above the moving average 20 without closing above the moving average 10 first, your full position will be closed at once.
This code is quite specific, but hopefully it can be useful for those who want do do something similar.
(This is not a fully automated strategy)
123456789101112131415161718192021222324252627282930313233343536373839404142434445464748defparam preloadbars = 10000defparam cumulateorders = false// manualy enter these variablesspread = 0.01accountsize = 25000entrylevel = 146.662stoplosslevel = 146.937eurusd = 1.0387// calculate the desired loss and adjust the entrylevels for spreadloss = 0.005*accountsize*eurusdentrylevel = entrylevel -0.5*spreadstoplosslevel = stoplossniveau+0.5*spread// calculate the desired position sizePositionsize = (loss / ((stoplosslevel-entrylevel) * (pipvalue/pipsize)/close))// can only do 1 tradec1 = TradeIndex(1) = 0// Short entry order placement with stoplossIF NOT ShortOnMarket and c1 THENSellshort Positionsize CONTRACTS AT entrylevel stopExitshort at stoplosslevel STOPENDIF// Initial stoploss placementIF ShortOnMarket THENExitshort at stoplosslevel STOPENDIFtimeframe(1h, updateonclose)// Trailingstop exits based on 1h MA10 and MA20 once in profitonce fullposition = 1IF ShortOnMarket and trailingstop <= entryniveau THENif close crosses over average[20] thenExitshort countofposition contracts at marketelseif close crosses over average[10] and fullposition = 1 thenExitshort (0.5*COUNTOFPOSITION) contracts at marketfullposition = 0SET STOP $LOSS 0endifendifENDIF1 user thanked author for this post.
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