using set stop and trail stop

• 05/06/2020 at 3:43 AM #130158
  leeb82

  Hi,

  this is my very first blog post ever so please be kind. I have no experience in programming but i am really keen to try and learn. i would like to and develop some auto trading systems. due to my lack of experience i am having trouble understanding

  ma x with stop and trail stop

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Conditions to enter long positions indicator1 = Average[10](close) c1 = (close > indicator1) IF c1 THEN BUY 1 CONTRACT AT MARKET ENDIF // Conditions to exit long positions indicator2 = Average[10](close) c2 = (close < indicator2) IF c2 THEN SELL AT MARKET ENDIF // Conditions to enter short positions indicator3 = Average[10](close) c3 = (close < indicator3) IF c3 THEN SELLSHORT 1 CONTRACT AT MARKET ENDIF // Conditions to exit short positions indicator4 = Average[10](close) c4 = (close > indicator4) IF c4 THEN EXITSHORT AT MARKET ENDIF // Stops and targets SET STOP ploss 20 pTRAILING 10

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated   // Conditions to enter long positions indicator1 = Average[10](close) c1 = (close > indicator1)   IF c1 THEN BUY 1 CONTRACT AT MARKET ENDIF   // Conditions to exit long positions indicator2 = Average[10](close) c2 = (close < indicator2)   IF c2 THEN SELL AT MARKET ENDIF   // Conditions to enter short positions indicator3 = Average[10](close) c3 = (close < indicator3)   IF c3 THEN SELLSHORT 1 CONTRACT AT MARKET ENDIF   // Conditions to exit short positions indicator4 = Average[10](close) c4 = (close > indicator4)   IF c4 THEN EXITSHORT AT MARKET ENDIF   // Stops and targets SET STOP ploss 20 pTRAILING 10

   

  the use of combined stops.  i would like to use an initial stop loss, then trail as the trade is in profit.

  for example – if i have ” SET STOP ploss 20 pTRAILING 10. does that mean a hard stop of 20 is in place until the trade moves in my favour? once in profit the trail stop is activated and is closer to price so the 10p trail stop is in place. i have added the code as per the instruction but like i said, i am mainly interested in how the stop loss section reads.

  many thanks,

  Lee

  

  leeb82

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  05/06/2020 at 5:21 AM #130160
  robertogozzi

  Line 37 is not allowed, you can’t combine two different kind of SL’s.

  Use

  SET STOP ploss 20

  1	SET STOP ploss 20

  then use Nicolas’code at https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/

  (lines 17-56) as a trailing stop.

  

  robertogozzi

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  05/06/2020 at 10:06 AM #130189
  GraHal

  robertogozzi wrote:

  you can’t combine two different kind of SL’s.

  Several of the Guidance Notes (one example below) in the link below need deleting then @Nicolas?

  In the meantime I will delete the Log to the link below in the Snippet Library to save confusion.

  https://www.prorealcode.com/blog/learning/kinds-trailing-stop-proorder/

  1	SET STOP pLOSS x pTRAILING y

  A stop loss is placed at x points from average position price and it becomes a trailing stop of y points if the trailing stop level becomes closer to current price than the stop loss level (this occurs price varies favourably by
  y points – x points).

  

  GraHal

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  05/06/2020 at 10:16 AM #130193
  Nicolas

  This kind of instruction doesn’t work in real trading because IG doesn’t allow it. It doesn’t mean that it will not be compatible with the automated trading function that will come for Interactive Broker accounts.

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  robertogozzi, GraHal

  

  Nicolas

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  05/06/2020 at 11:01 AM #130204
  leeb82

  Thanks so much guys. This has really cleared it up for me.

  cheers,

  Lee

  

  leeb82

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