Variable breakeven stoploss code help

• 07/22/2020 at 9:49 PM #139921
  KarlBenjamin

  Hi everyone, I have been trying to get my code right for bringing my stoploss to breakeven, but it seems to be doing all sorts of weird stuff.

  I was wondering if someone could double check my code and maybe correct it for me.

  I use the ATR to give me values for my stop loss and breakeven level.

  The first stoploss is set at 1.5 x the ATR.
  Once the price moves in my favour by 1.0 x the ATR I want to move my stop to breakeven, but I want to use the original ATR  value that was used when I entered the trade.

  Ignore the indicator that I use, that was just there for the test.

  Really appreciate any help! Thanks!

  //-------------------------------- DEFPARAM CUMULATEORDERS = FALSE IF NOT ONMARKET THEN NEWSTOPLOSS = 0 MYBREAKEVENLEVEL = 0 ENDIF //----TIME VARIABLES FOR LOWER TIME FRAMES---- GOODTOGO = 0 STARTTIME = (TIME => 075000) ENDTIME = (TIME =< 160000) IF STARTTIME AND ENDTIME THEN GOODTOGO = 1 ENDIF //----------------VARIABLES----------------- //-----------------ATR INDICATOR------------- MYATR = AVERAGETRUERANGE[14] FIRSTSTOPLOSS = MYATR[1] *1.5 BREAKEVENTRIGGER = MYATR[1] IF FIRSTSTOPLOSS < 6 AND FIRSTSTOPLOSS > 0.1 THEN FIRSTSTOPLOSS = 6 ENDIF IF BREAKEVENTRIGGER < 6 AND BREAKEVENTRIGGER > 0.1 THEN BREAKEVENTRIGGER = 6 ENDIF //----------------INDICATOR TO TEST------------- MYAROONUP = AROONUP[14] MYAROONDOWN = AROONDOWN[14] //-----------------CONDITIONS---------------- IF MYAROONUP CROSSES OVER MYAROONDOWN THEN SIGNAL = 1 ENDIF IF MYAROONDOWN CROSSES OVER MYAROONUP THEN SIGNAL = -1 ENDIF //-------------RISK AND MONEY MANAGEMENT----------- CAPITAL = 10000 EQUITY = CAPITAL + STRATEGYPROFIT MAXTRADERISK = (EQUITY/100) * 2 //2% RISK PSIZE = ROUND(MAXTRADERISK/FIRSTSTOPLOSS) //---------------ENTRIES AND EXITS------------- IF NOT LongOnMarket AND GOODTOGO = 1 AND SIGNAL = 1 THEN BUY PSIZE CONTRACTS AT MARKET MYBREAKEVENLEVEL = BREAKEVENTRIGGER ENDIF // Conditions to exit long positions //If LongOnMarket AND YourConditions THEN //SELL AT MARKET //ENDIF // Conditions to enter short positions IF NOT ShortOnMarket AND GOODTOGO = 1 AND SIGNAL = -1 THEN SELLSHORT PSIZE CONTRACTS AT MARKET MYBREAKEVENLEVEL = BREAKEVENTRIGGER ENDIF // Conditions to exit short positions //IF ShortOnMarket AND YourConditions THEN //EXITSHORT AT MARKET //ENDIF // Stops and targets : Enter your protection stops and profit targets here SET STOP PLOSS FIRSTSTOPLOSS //-----------------STOPLOSS TO BREAKEVEN CODE------------------ IF LONGONMARKET THEN IF NEWSTOPLOSS = 0 AND CLOSE - TRADEPRICE(1) >= MYBREAKEVENLEVEL THEN NEWSTOPLOSS = TRADEPRICE(1) + MYBREAKEVENLEVEL ENDIF ENDIF IF LONGONMARKET AND NEWSTOPLOSS > 0 THEN SELL AT NEWSTOPLOSS STOP ENDIF IF SHORTONMARKET THEN IF NEWSTOPLOSS = 0 AND CLOSE + TRADEPRICE(1) >= MYBREAKEVENLEVEL THEN NEWSTOPLOSS = TRADEPRICE(1) -MYBREAKEVENLEVEL ENDIF ENDIF IF SHORTONMARKET AND NEWSTOPLOSS > 0 THEN EXITSHORT AT NEWSTOPLOSS STOP ENDIF

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  //--------------------------------   DEFPARAM CUMULATEORDERS = FALSE IF NOT ONMARKET THEN NEWSTOPLOSS = 0 MYBREAKEVENLEVEL = 0 ENDIF     //----TIME VARIABLES FOR LOWER TIME FRAMES----   GOODTOGO = 0 STARTTIME = (TIME => 075000) ENDTIME = (TIME =< 160000)   IF STARTTIME AND ENDTIME THEN GOODTOGO = 1 ENDIF   //----------------VARIABLES-----------------       //-----------------ATR INDICATOR-------------   MYATR = AVERAGETRUERANGE[14] FIRSTSTOPLOSS = MYATR[1] *1.5 BREAKEVENTRIGGER = MYATR[1]   IF FIRSTSTOPLOSS < 6 AND FIRSTSTOPLOSS > 0.1 THEN FIRSTSTOPLOSS = 6 ENDIF IF BREAKEVENTRIGGER < 6 AND BREAKEVENTRIGGER > 0.1 THEN BREAKEVENTRIGGER = 6 ENDIF   //----------------INDICATOR TO TEST-------------   MYAROONUP = AROONUP[14] MYAROONDOWN = AROONDOWN[14]   //-----------------CONDITIONS----------------   IF MYAROONUP CROSSES OVER MYAROONDOWN THEN SIGNAL = 1 ENDIF   IF MYAROONDOWN CROSSES OVER MYAROONUP THEN SIGNAL = -1 ENDIF     //-------------RISK AND MONEY MANAGEMENT-----------   CAPITAL = 10000 EQUITY = CAPITAL + STRATEGYPROFIT MAXTRADERISK = (EQUITY/100) * 2 //2% RISK PSIZE = ROUND(MAXTRADERISK/FIRSTSTOPLOSS)   //---------------ENTRIES AND EXITS-------------     IF NOT LongOnMarket AND GOODTOGO = 1 AND SIGNAL = 1 THEN BUY PSIZE CONTRACTS AT MARKET MYBREAKEVENLEVEL = BREAKEVENTRIGGER ENDIF   // Conditions to exit long positions //If LongOnMarket AND YourConditions THEN //SELL AT MARKET //ENDIF   // Conditions to enter short positions IF NOT ShortOnMarket AND GOODTOGO = 1 AND SIGNAL = -1 THEN SELLSHORT PSIZE CONTRACTS AT MARKET MYBREAKEVENLEVEL = BREAKEVENTRIGGER ENDIF   // Conditions to exit short positions //IF ShortOnMarket AND YourConditions THEN //EXITSHORT AT MARKET //ENDIF   // Stops and targets : Enter your protection stops and profit targets here   SET STOP PLOSS FIRSTSTOPLOSS   //-----------------STOPLOSS TO BREAKEVEN CODE------------------   IF LONGONMARKET THEN IF NEWSTOPLOSS = 0 AND CLOSE - TRADEPRICE(1) >= MYBREAKEVENLEVEL THEN NEWSTOPLOSS = TRADEPRICE(1) + MYBREAKEVENLEVEL ENDIF ENDIF   IF LONGONMARKET AND NEWSTOPLOSS > 0 THEN SELL AT NEWSTOPLOSS STOP ENDIF   IF SHORTONMARKET THEN IF NEWSTOPLOSS = 0 AND CLOSE + TRADEPRICE(1) >= MYBREAKEVENLEVEL THEN NEWSTOPLOSS = TRADEPRICE(1) -MYBREAKEVENLEVEL ENDIF ENDIF   IF SHORTONMARKET AND NEWSTOPLOSS > 0 THEN EXITSHORT AT NEWSTOPLOSS STOP ENDIF

   

   

  

  KarlBenjamin

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  07/22/2020 at 9:56 PM #139923
  KarlBenjamin

  I have just noticed that i forgot to add

  SIGNAL = 0

  at the top of the code in my variables section and that line 101 needed a “<=”.
  Other than that can anyone spot any problems with this code?

  Thankyou

  

  KarlBenjamin

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  Been thanked: 5 times
  07/22/2020 at 11:16 PM #139930
  robertogozzi

  Move lines 27-28 to just after BUY at line 64 and SELLSHORT at line 75.

   

  

  robertogozzi

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