Using Supertrend as stop loss

• 08/28/2019 at 4:24 PM #105763
  AlgoAlex

  Guys, how should I use a value in supertrend as initial stop loss?

  I don’t wanna close the order when close crosses over/under it, what I want is to use the value of Supertrend (or a moving average) at the bar of opening order as a level for stop loss.

  

  AlgoAlex

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  08/28/2019 at 4:35 PM #105764
  Nicolas

  A the time you open an order, calculate the stoploss size by substracting the supertrend to the current Close:

  if condition then buy at market stoploss = close-supertrend[3,10] set stop loss stoploss endif

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  if condition then buy at market stoploss = close-supertrend[3,10] set stop loss stoploss endif

  (for a buy order, considering the Supertrend is below the price).

   

  

  Nicolas

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