Fixed Stop Loss

• 09/25/2023 at 5:51 PM #221578
  Brad

  Hi All

  I am struggling to see what I am doing wrong with my SL setting.

  I am trying to set a FIXED SL price according to the data when a trade is triggered using the highest price of the previous 5 bars + half the ATR.

  Am I coding it correctly? Are the codes in the correct place? The SL does not take effect when back-testing.

  Any assistance is appreciated.

  defparam cumulateOrders = false // Set the parameters for the moving average MAPeriod = 20 // Calculate the moving average MA = average[MAPeriod](close) // Sell short when close crosses below the moving average if close crosses under MA then sellshort at market endif // Set the profit target and stop loss set target pprofit 50 // 50 points profit target IF TradeIndex[0] THEN LookBack = 5 HighestHigh = Highest[LookBack](high) + (AverageTrueRange[14](close)[0] *0.5) OriginalSLPrice = HighestHigh ENDIF SET STOP LOSS OriginalSLPrice

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  defparam cumulateOrders = false   // Set the parameters for the moving average MAPeriod = 20   // Calculate the moving average MA = average[MAPeriod](close)   // Sell short when close crosses below the moving average if close crosses under MA then sellshort at market endif   // Set the profit target and stop loss set target pprofit 50 // 50 points profit target     IF TradeIndex[0] THEN LookBack = 5 HighestHigh = Highest[LookBack](high) + (AverageTrueRange[14](close)[0] *0.5) OriginalSLPrice = HighestHigh ENDIF   SET STOP LOSS OriginalSLPrice

   

  

  Brad

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  09/26/2023 at 6:30 PM #221625
  robertogozzi

  Tradeindex must be referenced using PARENTHESES, not brackets. The last operation’s bar is TRADEINDEX or TRADEINDEX(1).

  Be warned that TRADEINDEX will be aware of the newly opened (or closed) trade at the closing of the candle, so lines 19-21 will only be executed from the second bar on…

  Bear in mind that TRADEINDEX is the bar when the last operation (be it Entry or Exit) is executed.

  I suggest replacing the last 6 lines as follows:

  myBAR = TradeIndex IF OnMarket AND myBAR <> myBAR[1] THEN LookBack = 5 HighestHigh = Highest[LookBack](high) + (AverageTrueRange[14](close)[0] *0.5) OriginalSLPrice = HighestHigh SET STOP LOSS OriginalSLPrice ENDIF

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  myBAR = TradeIndex IF OnMarket AND myBAR <> myBAR[1] THEN    LookBack        = 5    HighestHigh     = Highest[LookBack](high) + (AverageTrueRange[14](close)[0] *0.5)    OriginalSLPrice = HighestHigh    SET STOP LOSS OriginalSLPrice ENDIF

  

  robertogozzi

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  09/27/2023 at 11:11 AM #221667
  Brad

  Thanks for the feedback Roberto.
  I seem to get the same results. No SL is set up.

  I’ve added the following screenshots with results where a trade is triggered and where a stop should be placed:
  1. My original code.
  2. The adjusted code with your changes.
  3. Replacing the code with a simple fixed 20-point SL.

  When I replace the code with a simple SET STOP LOSS 20, I get the required entry and exit.

   

  

  Brad

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  09/27/2023 at 12:12 PM #221672
  robertogozzi

  My fault, I didn’t realize that you are setting your Stop Loss at a PRICE level, not a PRICE DIFFERENCE. Replace SET STOP LOSS with SET STOP PRICE as follows:

  SET STOP PRICE OriginalSLPrice

  1	SET STOP PRICE  OriginalSLPrice

  1 user thanked author for this post.

  Brad

  

  robertogozzi

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