Stops in relation to previous candles/bars

• 06/20/2016 at 11:47 AM #9585
  Dymjohn

  Is it possible to set a moving stop at the level of say low of candle three candles ago less 2 points.

  e.g. entry price 6500, low of three candles ago 6420 so stop 6418.

  on next bar price 6490 low of 3 bars ago 6645 so stop 6643?

  

  Dymjohn

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  06/20/2016 at 12:56 PM #9589
  Nicolas

  Yes, you can code it this way:

  SELL AT Low[3]-2*pipsize STOP

  1	SELL AT Low[3]-2*pipsize STOP

  (for a long position).

  

  Nicolas

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  06/20/2016 at 5:40 PM #9610
  Dymjohn

  Hi Thanks for the information. I’d worked something similar out.

  Firstly, I’d put the following

  BuyPrice = High[1]+2*Pipsize

  then the instruction to buy:

  BUY 1 SHARES AT BuyPrice STOP

  However, I don’t think it works as I’ve been unable to establish how the tester sets the buy price. I have concerns about the tester as I thought reducing the trailing stop would reduce my profits in test mode but they increase e.g. trailing stop on DAX (a volatile market) reducing trail from 10 to 7 increased profit. Even 10 in my view will lead to many stop outs.  Is my scepticism unfounded?

  

  Dymjohn

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  06/20/2016 at 7:49 PM #9616
  Nicolas

  What you have coded don’t act as a stoploss, but as a pending buy stop order instead, above the current price. My code refer to a sell stop order to sell the current long position.

  

  Nicolas

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  06/21/2016 at 8:03 AM #9622
  Dymjohn

  Thanks Nicolas,

  I think I confused myself trying to solve both my entry point and stop loss. Have you any thoughts about the tester and the apparent anomaly of reducing a tight stop and improving profitability of the strategy?

  

  Dymjohn

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  06/21/2016 at 9:18 AM #9624
  Nicolas

  The profitability of which strategy? 🙂

  

  Nicolas

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  04/12/2017 at 4:46 PM #31870
  Menghan

  <span class="token keyword">"SELL"</span> <span class="token keyword">AT</span> <span class="token keyword">Low</span><span class="token punctuation">[</span><span class="token number">3</span><span class="token punctuation">]</span><span class="token operator">-</span><span class="token number">2</span><span class="token operator">*</span><span class="token keyword">pipsize</span> <span class="token keyword">STOP </span></code>i want to know how to do "sell" become "set STOP LOSS"or"set target profit" sorry，nicolas my english not well.

  1 2 3 4 5

  <span class="token keyword">"SELL"</span> <span class="token keyword">AT</span> <span class="token keyword">Low</span><span class="token punctuation">[</span><span class="token number">3</span><span class="token punctuation">]</span><span class="token operator">-</span><span class="token number">2</span><span class="token operator">*</span><span class="token keyword">pipsize</span> <span class="token keyword">STOP   </span></code>i want to know how to do "sell" become "set STOP LOSS"or"set target profit"   sorry，nicolas my english not well.

  

  Menghan

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