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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  04/01/2025 at 11:41 AM #245481
  OggyFluff77

  many thanks for coming back to me, as always, much appreciated.

  however, the code moves the stop loss to a 100 loss, but still a loss – i would like the stop loss moved to a target that is positive so the trade at least makes some money – so in essence once a target is hit (the code you kindly provided), i then have 2 take profit targets, the original one as set out in initial trade and one which is lower than the current profit – ie, replacement of the original stop loss.

  in my earlier example, if my running profit hits £150 then my old stop loss which is naturally negative is replaced by a number which is positive so i lock in a definite gain – like £100 in the event of a pull back. and i also have my original target still in place so i win either way.

  i dont want a trailing stop loss per se as i am happy with 2 distinct take profit targets

  hope thats clear

  thanks in advance for your help

   

  

  OggyFluff77

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  04/01/2025 at 9:33 PM #245499
  robertogozzi

  My fault, here’s the correct one:

  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 IF LongOnMarket THEN NewSL = TradePrice + (100 / abs(CountOfPosition) / PipValue) ELSE NewSL = TradePrice - (100 / abs(CountOfPosition) / PipValue) ENDIF SET STOP PRICE NewSL ENDIF ENDIF //graph tempProfit //graph NewSL //graph TradePrice

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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 IF LongOnMarket THEN NewSL  = TradePrice + (100 / abs(CountOfPosition) / PipValue) ELSE NewSL  = TradePrice - (100 / abs(CountOfPosition) / PipValue) ENDIF SET STOP PRICE NewSL ENDIF ENDIF //graph tempProfit //graph NewSL //graph TradePrice

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  robertogozzi

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  04/03/2025 at 3:26 PM #245556
  OggyFluff77

  many thanks Roberto that is amazing – really appreciate your help – that works perfectly.

  However, the structure of the second take profit/movable stop loss has given me an idea.

  can a second one be added so it looks something like:

  if temp profit goes to 100, move stop loss/new take profit to +50

  if temp profit goes to 150, move stop loss/new take profit to +100

  make sense? the numbers dont really matter at this stage i am just trying to limit losses and maximise the gain but allow flexibility for some volatility

  thank you so much in advance

  

  OggyFluff77

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  04/03/2025 at 9:41 PM #245562
  robertogozzi

  This version support 2 profitable SLs, the first one is triggered at a $100 gain and sets a SL to +$50, the second one is triggered at a $150 gain and sets a SL to +$100.

  When a major Gain  occurs and the first profitable trigger is the SECOND trigger, obviously there will not be a FIRST (worse) SL1.

  ONCE Trigger1 = 100 //100 $ gain is second trigger for SL 2 ONCE TP1 = 50 //50 currency unit (€, $, etc...) ONCE Trigger2 = 150 //150 $ gain is second trigger for SL 2 ONCE TP2 = 100 //100 currency unit (€, $, etc...) ONCE SL = 450 //450 currency unit (€, $, etc...) ONCE SLflag1 = 1 ONCE SLflag2 = 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 SLflag1 = 1 SLflag2 = 1 tempProfit = 0 ENDIF SET TARGET PROFIT 50*AverageTrueRange[15](close) IF OnMarket THEN tempProfit = TradePrice * PositionPerf * PipValue * abs(CountOfPosition) IF (tempProfit >= Trigger2) AND SLflag2 THEN SLflag1 = 0 SLflag2 = 0 IF LongOnMarket THEN NewSL = TradePrice + (TP2 / abs(CountOfPosition) / PipValue) ELSE NewSL = TradePrice - (TP2 / abs(CountOfPosition) / PipValue) ENDIF SET STOP PRICE NewSL ENDIF IF (tempProfit >= Trigger1) AND SLflag1 THEN SLflag1 = 0 IF LongOnMarket THEN NewSL = TradePrice + (TP1 / abs(CountOfPosition) / PipValue) ELSE NewSL = TradePrice - (TP1 / abs(CountOfPosition) / PipValue) ENDIF SET STOP PRICE NewSL ENDIF ENDIF //graph tempProfit //graph NewSL //graph TradePrice //graph SLflag1 //graph SLflag2 coloured("Red")

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  ONCE Trigger1     = 100      //100 $ gain is second trigger for SL 2 ONCE TP1          = 50       //50  currency unit (€, $, etc...) ONCE Trigger2     = 150      //150 $ gain is second trigger for SL 2 ONCE TP2          = 100      //100 currency unit (€, $, etc...) ONCE SL           = 450      //450 currency unit (€, $, etc...) ONCE SLflag1      = 1 ONCE SLflag2      = 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 SLflag1 = 1 SLflag2 = 1 tempProfit = 0 ENDIF SET TARGET PROFIT 50*AverageTrueRange[15](close) IF OnMarket THEN tempProfit = TradePrice * PositionPerf * PipValue * abs(CountOfPosition) IF (tempProfit >= Trigger2) AND SLflag2 THEN SLflag1 = 0 SLflag2 = 0 IF LongOnMarket THEN NewSL  = TradePrice + (TP2 / abs(CountOfPosition) / PipValue) ELSE NewSL  = TradePrice - (TP2 / abs(CountOfPosition) / PipValue) ENDIF SET STOP PRICE NewSL ENDIF IF (tempProfit >= Trigger1) AND SLflag1 THEN SLflag1 = 0 IF LongOnMarket THEN NewSL  = TradePrice + (TP1 / abs(CountOfPosition) / PipValue) ELSE NewSL  = TradePrice - (TP1 / abs(CountOfPosition) / PipValue) ENDIF SET STOP PRICE NewSL ENDIF ENDIF //graph tempProfit //graph NewSL //graph TradePrice //graph SLflag1 //graph SLflag2 coloured("Red")

   

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  robertogozzi

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  04/04/2025 at 5:01 PM #245596
  OggyFluff77

  thank you once again Roberto for the code – works perfectly well

  much appreciated as always for your excellent help

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  OggyFluff77

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  04/05/2025 at 2:48 PM #245612
  robertogozzi

  Sorry for the incorrect comment in line 1, I should have written SL 1.

   

  

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