Safezone stop at time of entry

• 02/09/2020 at 3:06 PM #119093
  Henchey

  Hi

  Could somebody advise if I can set a stop using elder safe zone long? I’m trying to use the safe zone level at the point of trade entry. Is it possible timestamp or identify the candle at point of entry (TRADEPRICE perhaps?) and then use the safe zone indicator level at that point in time?

  Problem is I think I will end up identifying the current safe zone level instead of the previous (n) bars.

   

  Many thanks

  Pete

  

  Henchey

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  02/09/2020 at 5:31 PM #119097
  Henchey

  Maybe TRADEINDEX would be more suitable?

  

  Henchey

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  02/17/2020 at 10:17 PM #119802
  Henchey

  This is where I’m at at present, it seems to be getting there but not sure if its as efficient as it could be?

  // Conditions to exit long positions. Firstly define safezone long level at time of trade entry. Use this level as a stop. For profit target multiply this risk amout to achieve risk reward level. indicator2 = CALL "Elder - SafeZone Long"[2, 99] indicator3 = CALL "Elder - Chandelier Long"[3, 22] IF ONMARKET AND (BarIndex-TradeIndex = 0) THEN myRisk = TRADEPRICE - indicator2[1] ENDIF IF LONGONMARKET AND Low <= TRADEPRICE-myRisk THEN SELL AT MARKET ENDIF myReward =myRisk*10 IF LONGONMARKET AND High >= TRADEPRICE + myReward AND close <= indicator3[1] THEN SELL AT MARKET ENDIF

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  // Conditions to exit long positions. Firstly define safezone long level at time of trade entry. Use this level as a stop. For profit target multiply this risk amout to achieve risk reward level.   indicator2 = CALL "Elder - SafeZone Long"[2, 99] indicator3 = CALL "Elder - Chandelier Long"[3, 22]   IF ONMARKET AND (BarIndex-TradeIndex = 0) THEN myRisk = TRADEPRICE - indicator2[1] ENDIF   IF LONGONMARKET AND Low <= TRADEPRICE-myRisk THEN SELL AT MARKET ENDIF   myReward =myRisk*10   IF LONGONMARKET AND High >= TRADEPRICE + myReward AND close <= indicator3[1] THEN SELL AT MARKET ENDIF

   

  

  Henchey

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