Coding help needed – flexible stop loss

• 03/29/2025 at 12:05 PM #245405
  OggyFluff77

  Good morning,

  i have a piece of code for a strategy which has a moving profit target but a fixed stop loss.

  i would like some help  please that would keep the original target in place but in addition, add a parameter that when a different $profit is hit, the stop loss is moved to ensure i lock in a profit.

  example: target profit is 20*AverageTrueRange[15](close)

  however, if the trade is in profit say £150, then move the stop loss to £100 in profit and close trade on that pull back.

  thanks in advance, hope the above makes sense

  

  OggyFluff77

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  03/29/2025 at 3:34 PM #245406
  robertogozzi

  There you go:

  ONCE TP = 150 //150 currency unit (€, $, etc...) ONCE SL = 450 //450 currency unit (€, $, etc...) ONCE SLflag = 1 Sma100 = average[100,0](close) myLongConditions = close CROSSES OVER Sma100 myShortConditions = close CROSSES UNDER Sma100 IF Not OnMarket THEN IF myLongConditions THEN BUY 1 CONTRACT AT MARKET ELSIF myShortConditions THEN SELLSHORT 1 CONTRACT AT MARKET ENDIF SET TARGET PROFIT 50*AverageTrueRange[15](close) SET STOP $LOSS SL SLflag = 1 tempProfit = 0 ENDIF SET TARGET PROFIT 50*AverageTrueRange[15](close) IF OnMarket THEN tempProfit = TradePrice * PositionPerf * PipValue * abs(CountOfPosition) IF (tempProfit >= TP) AND SLflag THEN SLflag = 0 SET STOP $LOSS 100 ENDIF ENDIF //graph tempProfit

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  ONCE TP           = 150      //150 currency unit (€, $, etc...) ONCE SL           = 450      //450 currency unit (€, $, etc...) ONCE SLflag       = 1 Sma100            = average[100,0](close) myLongConditions  = close CROSSES OVER  Sma100 myShortConditions = close CROSSES UNDER Sma100 IF Not OnMarket THEN    IF myLongConditions THEN       BUY 1 CONTRACT AT MARKET    ELSIF myShortConditions THEN       SELLSHORT 1 CONTRACT AT MARKET    ENDIF    SET TARGET PROFIT 50*AverageTrueRange[15](close)    SET STOP   $LOSS  SL    SLflag = 1    tempProfit = 0 ENDIF SET TARGET PROFIT 50*AverageTrueRange[15](close) IF OnMarket THEN    tempProfit = TradePrice * PositionPerf * PipValue * abs(CountOfPosition)    IF (tempProfit >= TP) AND SLflag THEN       SLflag = 0       SET STOP $LOSS 100    ENDIF ENDIF //graph tempProfit

   

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  robertogozzi

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