Noob help please SL and TS

• 05/15/2024 at 3:37 PM #232684
  bob320

  Hi All,

  Im hoping someone can help a new starter in this field. Ive created a (very) basic auto trade system but it wont allow me to have both a Stop Loss and Trailing stop. Looking at other forum posts for a few hours I can see this is a common issue. Ive found some scripts created by other then enable this feature but dont understand how I can incorporate this into my own script?

  Appreciate this is a very cheeky ask, but would someone please amend my code so I have both a stop loss (20 points/pips) and a Trailing stop (5 points/pips) that I can run. Thanks in advance

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Conditions to enter long positions indicator1 = BollingerDown[17](close) c1 = (close CROSSES OVER indicator1) IF c1 THEN BUY 1 PERPOINT AT MARKET ENDIF // Conditions to exit long positions indicator2 = BollingerUp[17](close) c2 = (close CROSSES UNDER indicator2) IF c2 THEN SELL AT MARKET ENDIF // Stops and targets SET STOP pLOSS 20 pTRAILING 5

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated   // Conditions to enter long positions indicator1 = BollingerDown[17](close) c1 = (close CROSSES OVER indicator1)   IF c1 THEN BUY 1 PERPOINT AT MARKET ENDIF   // Conditions to exit long positions indicator2 = BollingerUp[17](close) c2 = (close CROSSES UNDER indicator2)   IF c2 THEN SELL AT MARKET ENDIF   // Stops and targets SET STOP pLOSS 20 pTRAILING 5

   

  

  bob320

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  05/15/2024 at 5:01 PM #232694
  JS

  Hi Bob,

  Try this…

  TimeFrame: 15 minuten

   

   

  Bob 15/5/24

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Conditions to enter long positions indicator1 = BollingerDown[17](close) c1 = (close CROSSES OVER indicator1) IF c1 THEN BUY 1 PERPOINT AT MARKET ENDIF // Conditions to exit long positions indicator2 = BollingerUp[17](close) c2 = (close CROSSES UNDER indicator2) IF c2 THEN SELL AT MARKET ENDIF // Stops and targets SET STOP pLOSS 30 SET STOP PTRAILING 85

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Conditions to enter long positions indicator1 = BollingerDown[17](close) c1 = (close CROSSES OVER indicator1) IF c1 THEN BUY 1 PERPOINT AT MARKET ENDIF // Conditions to exit long positions indicator2 = BollingerUp[17](close) c2 = (close CROSSES UNDER indicator2) IF c2 THEN SELL AT MARKET ENDIF // Stops and targets SET STOP pLOSS 30 SET STOP PTRAILING 85

  

  JS

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  05/19/2024 at 5:35 PM #232797
  DeathMetal

  BTW,
  your trail stop must be larger than your stop loss, otherwise only the trail stop works, so your position to be closed always ends up at your trail stop.

  

  DeathMetal

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  05/20/2024 at 10:48 AM #232805
  bob320

  Ah, thank you both for the replies, think this is making more sense now.

  Thanks again!

  

  bob320

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  05/20/2024 at 4:20 PM #232829
  DeathMetal

  Hi JS,

  Does a trailingstop and a stoploss work together in your systems? Beacause I have found out, that it isn’t the case, see my post in the Pro order support.

  Thnx!

   

  

  DeathMetal

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  05/20/2024 at 4:47 PM #232830
  JS

  Hi,

  I don’t use them together in my systems, I just use a “(custom) trailing stop” in IB…

  (I would make the “StopLoss” part of the TS myself…)

  1 user thanked author for this post.

  DeathMetal

  

  JS

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  05/20/2024 at 4:52 PM #232831
  DeathMetal

  Ok, Thnx!

  

  DeathMetal

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