SL on last candle

• 11/14/2020 at 10:50 AM #150463
  umebon

  Hi

  I have read and tried too figure this out but I can’t get it too work. I would like too have a SL that moves with previous candle. If price moves up i want SL too move to be set too last candles low. I’m working long only..

  

  umebon

  Participant

  Topics: 29

  Replies: 48

  Been thanked: 4 times
  11/14/2020 at 11:17 AM #150465
  robertogozzi

  There you go:

  IF Not OnMarket THEN NewSL = 0 //clear NewSL when not OnMarket ELSE IF close > close[1] THEN //update stop loss when price is rising NewSL = max(NewSL,low[1]) //to previous candle's low, if higher than before ENDIF IF NewSL > 0 THEN SELL AT NewSL STOP //exit at calculated stop, if any ENDIF ENDIF

  1 2 3 4 5 6 7 8 9 10

  IF Not OnMarket THEN    NewSL = 0                     //clear NewSL when not OnMarket ELSE    IF close > close[1] THEN      //update stop loss when price is rising       NewSL = max(NewSL,low[1])  //to previous candle's low, if higher than before    ENDIF    IF NewSL > 0 THEN       SELL AT NewSL STOP         //exit at calculated stop, if any    ENDIF ENDIF

   

  1 user thanked author for this post.

  umebon

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17272

  Been thanked: 4119 times
• Author
  Posts