code to close a position when in profit

• 04/22/2023 at 2:55 PM #213606
  borderlineJim

  Hello to the community!

  Could any of the coding wizards write some simple code for me? Here is my request:

  If I have an open position I would like to close this position at the close of the first candle in profit, whether long or short.

  That is all

   

  Best wishes

  Jamed

  

  borderlineJim

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  04/22/2023 at 3:01 PM #213607
  GraHal

  How about …

  If abs(TradePrice - Close) > 0 Then Sell at Market ExitShort at Market Endif

  1 2 3 4

  If abs(TradePrice - Close) > 0 Then Sell at Market ExitShort at Market Endif

   

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  GraHal

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  04/22/2023 at 6:18 PM #213615
  robertogozzi

  To make the code work with both Long and Short trades or in case of accumulation of orders or when partial closing of positions is used, a more accurate line 1 should read:

  IF PositionPerf > 0 THEN

  1	IF PositionPerf > 0 THEN

   

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  robertogozzi

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  04/22/2023 at 10:17 PM #213620
  borderlineJim

  Thank you kindly, GraHal and Roberto.  This is a great community! I sincerely appreciate how all you guys help with coding for ProRealTime, long may it continue.

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  04/24/2023 at 9:33 AM #213660
  smp

  If you want to try and max out on a profit into a close, for example, FTSE100 and DAX40 close at 16:30hrs you could also use this;

  timeCloseTradeInProfit = 163000
  if time = timeCloseTradeInProfit Then
  InProfit = (close – tradeprice) * pipsize
  If InProfit > 0 THEN
  Sell at market
  ExitShort at Market
  Endif

  

  smp

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  04/24/2023 at 9:47 AM #213662
  robertogozzi

  Be warned that

  InProfit = (close – tradeprice) * pipsize

  1	InProfit = (close – tradeprice) * pipsize

  should read

  InProfit = (close – tradeprice) / pipsize

  1	InProfit = (close – tradeprice) / pipsize

  the first one will convert a price difference of, say 0.0040, into 0.00000040 pips (for FX pairs), the latter will convert it into 40 pips.

  In addition it calculates the profit for only LONG trades, while you coded exiting also the SHORT trades and one final ENDIF is missing.

  It should be coded this way:

  timeCloseTradeInProfit = 163000 if time = timeCloseTradeInProfit Then InProfit = (tradeprice - close) * pipsize //SHORT trades if LongOnMarket THEN InProfit = (close – tradeprice) * pipsize //LONG trades endif If InProfit > 0 THEN Sell at market ExitShort at Market Endif endif

  1 2 3 4 5 6 7 8 9 10 11

  timeCloseTradeInProfit = 163000 if time = timeCloseTradeInProfit Then    InProfit = (tradeprice - close) * pipsize     //SHORT trades    if LongOnMarket THEN       InProfit = (close – tradeprice) * pipsize  //LONG  trades    endif    If InProfit > 0 THEN       Sell at market       ExitShort at Market    Endif endif

   

   

   

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  robertogozzi

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  04/24/2023 at 12:06 PM #213671
  smp

  Hi,

  The code was indeed just for long trades.  It’s been working perfectly daily for me in active Algo’s on DAX and FTSE.

   

  If you look at your code and mine, you are saying the same as I!

  

  smp

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  04/24/2023 at 4:13 PM #213688
  robertogozzi

  It works simply because you only trade DAX and FTSE, which have a price to pip ratio of 1:1, but it doesn’t make it a portable code. You may not need it, but many other may!

   

   

  

  robertogozzi

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