set profit or stop loss after 3 bars

• 06/29/2016 at 8:11 PM #10002
  lebloe

  is it possible to  set profit or stop loss if the trade is 3 bars in market ?

  this doesn`t work

  IF ONMARKET AND (BarIndex - TradeIndex) >= 3 THEN SET TARGET PPROFIT 20 ENDIF IF ONMARKET AND (BarIndex - TradeIndex) >= 3 THEN SET STOP PLOSS 20 ENDIF

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  IF ONMARKET AND (BarIndex - TradeIndex) >= 3 THEN   SET TARGET PPROFIT 20   ENDIF     IF ONMARKET AND (BarIndex - TradeIndex) >= 3 THEN   SET STOP PLOSS 20   ENDIF

   

  

  lebloe

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  06/30/2016 at 8:36 AM #10013
  Nicolas

  Yes it would be possible, could you change and test your code with:

  IF ONMARKET AND (BarIndex - TradeIndex(1)) >= 3 THEN SET TARGET PPROFIT 20 SET STOP PLOSS 20 ENDIF

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  IF ONMARKET AND (BarIndex - TradeIndex(1)) >= 3 THEN SET TARGET PPROFIT 20 SET STOP PLOSS 20 ENDIF

  Please let me know if it doesn’t work either.

   

  

  Nicolas

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  06/30/2016 at 9:33 AM #10016
  lebloe

  Hi Nicolas,

  thanks for reply.

  In Backtest it doesn´t work, i´ll give it a try in live trading.

  

  lebloe

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  06/30/2016 at 10:55 AM #10019
  Nicolas

  Do your orders are “on market” ones and not pending stop or limit ones?

  

  Nicolas

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  06/30/2016 at 11:38 AM #10020
  lebloe

  The ordertyp is pending stop

  

  lebloe

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  06/30/2016 at 1:35 PM #10022
  Nicolas

  Ok, but do you want your pending orders to have these TP/SL values after they have been placed for at least 3 bars or do you want the TP/SL to be set on these orders that have been triggered by price already (so now on market)?

  

  Nicolas

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  06/30/2016 at 1:46 PM #10025
  lebloe

  My first idea was, ich used it first for better backtest Results.. So, that the trades are Minimum 2 candles in the market..second idea is, the Orders geht This Stop after they become triggerd.. Tanks for your Patient..

  

  lebloe

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  06/30/2016 at 1:59 PM #10027
  Nicolas

  If I asked you the question about kind of trades you’d like to have this condition met, it’s because pending orders can’t have more than 1 bar old : they are deleted and re-placed at each bar (as long as you put them on).

  Ok, so the code I gave you should work for orders at market. Without your whole code strategy, I can’t be sure why it doesn’t work, so you can share me your code and I’ll be glad to debug it! 🙂

  

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  06/30/2016 at 3:02 PM #10032
  Nicolas

  Hmm I get a clue from someone already affected by this.

  Setting takeprofit and stoploss must be made before 3 bar elapsed, so I suggest this code instead:

  IF ONMARKET AND (BarIndex - TradeIndex(1)) >= 3 THEN SET TARGET PPROFIT 20 SET STOP PLOSS 20 ELSE SET TARGET PPROFIT 0 SET STOP PLOSS 0 ENDIF

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  IF ONMARKET AND (BarIndex - TradeIndex(1)) >= 3 THEN SET TARGET PPROFIT 20 SET STOP PLOSS 20 ELSE SET TARGET PPROFIT 0 SET STOP PLOSS 0 ENDIF

  Which should resolved the problem I believe.

   

  

  Nicolas

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  06/30/2016 at 3:34 PM #10033
  lebloe

  thanks a lot .. i will test it.

  and this is the code without all the filters, this works on dax 15 min ..

  a = 39 b = 7 Upper1 = HIGHEST[a](HIGH[1]) Lower1 = LOWEST[a](LOW[1]) Tenkan = (Upper1 + Lower1) / 2 Upper2 = HIGHEST[b](HIGH[1]) Lower2 = LOWEST[b](LOW[1]) Kijun = (Upper2 + Lower2) / 2 asien = ( TIME < 080000 ) m = 8 HOCH1 = highest[m](high) HOCH2 = highest[m](high) if asien then HOCH = HOCH2 else HOCH = HOCH1 endif ichi = Kijun crosses over Tenkan buy1 = HOCH[1] if ichi then BUY 1 CONTRACT AT HOCH stop endif if ichi[1] then BUY 1 CONTRACT AT buy1 stop endif IF (BarIndex - TradeIndex(1)) >= 3 THEN SET TARGET PROFIT 20 SET STOP PLOSS 40 ENDIF

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  a = 39 b = 7 Upper1 = HIGHEST[a](HIGH[1]) Lower1 = LOWEST[a](LOW[1]) Tenkan = (Upper1 + Lower1) / 2   Upper2 = HIGHEST[b](HIGH[1]) Lower2 = LOWEST[b](LOW[1]) Kijun = (Upper2 + Lower2) / 2   asien = ( TIME < 080000 ) m = 8 HOCH1 = highest[m](high) HOCH2 = highest[m](high) if asien then HOCH = HOCH2 else HOCH = HOCH1 endif   ichi = Kijun crosses over Tenkan   buy1 = HOCH[1]   if ichi then BUY 1 CONTRACT AT HOCH stop endif if ichi[1] then BUY 1 CONTRACT AT buy1 stop endif   IF (BarIndex - TradeIndex(1)) >= 3 THEN SET TARGET PROFIT 20 SET STOP PLOSS 40 ENDIF

   

  

  lebloe

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  06/30/2016 at 3:54 PM #10035
  Nicolas

  Thanks for the code. I spotted some kind of “mistakes”, but don’t take it bad.

  1/ HOCH1 and HOCH2 are the same variable (they return the same value).

  2/ You can’t buy at a stop level of HOCH because it is the actual highest high and it’s currently moving if the price goes up. You should refer to HOCH[1] instead.

  3/ As I told you already in my previous post, you need to set up your stop order at each bar because IG delete pending order at each new bar (because of no expiration possible). So when you place your pending orders into a conditional statement like you made from line 28 to 30, your order only last 1 bar (because your condition ichi[1] only occurred one time) which maybe not sufficient for them to trigger.

  4/ Replace lines 32 to 35 with the code snippet I gave you.

  

  Nicolas

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  06/30/2016 at 4:02 PM #10037
  lebloe

  both solutions did not work.

  whatever market entrance i try, direct trade openings with on market nor on stop buy orders.

  

  lebloe

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  06/30/2016 at 4:13 PM #10041
  lebloe

  1. yes they are the same, in my system a add somme different pips to it
  2. in Realtime trading it works, hmm, i will try hoch[1]
  3. in Realtime trading i put this one in a if Statement with some filters, and the system open on every new bar a new stop buy orde

  

  lebloe

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  07/10/2016 at 7:24 AM #10370
  James B Eddon

  Hello Guy I’m looking for a similar code which is: after 3 bars from market open / set stop at market entry . If you can give me any help thanks James.

  

  James B Eddon

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