Stop and Take Profit Multiple of ATR

• 07/13/2016 at 7:09 PM #10456
  Dymjohn

  Hi,

  I”ve spent some considerable time trying to set ONCE a profit and Take profit as a multiple of say an ATR(14) but without success. The code runs without error but doesn’t do anything. Can you help please?

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated DEFPARAM FLATBEFORE = 070000 // Flat before this time DEFPARAM FLATAFTER = 205000 // Flat after this time //use ATR14 to set targets and stops //Set Stop and Targets //reset stop and target IF NOT ONMARKET THEN St= 0 Tp= 0 // set Stop and target //ONCE St = ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize //ONCE Tp = ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize //prices to enter trades BuyPrice = High[0]+2*PointSize SellPrice = Low[0]-2*PointSize // Conditions to enter long positions indicator1 = Stochastic[14,5](close) c1 = (indicator1 < 25) indicator2 = Average[20](close) indicator3 = Average[50](close) c2 = (indicator2 > indicator3) IF c1 AND c2 THEN BUY 1 PERPOINT AT BuyPrice STOP ENDIF // set stop IF LONGONMARKET THEN St = BuyPrice - ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize Tp = BuyPrice + ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize ENDIF // Conditions to exit long positions indicator4 = Stochastic[14,5](close) c3 = (indicator4 CROSSES UNDER 75) IF c3 THEN SELL AT MARKET ENDIF // Conditions to enter short positions indicator5 = Stochastic[14,5](close) c4 = (indicator5 > 75) indicator6 = Average[50](close) indicator7 = Average[20](close) c5 = (indicator6 > indicator7) IF c4 AND c5 THEN SELLSHORT 1 PERPOINT AT SellPrice STOP ENDIF // set stop IF SHORTONMARKET THEN St = SellPrice + ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize Tp = SellPrice - ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize ENDIF // Conditions to exit short positions indicator8 = Stochastic[14,5](close) c6 = (indicator8 CROSSES OVER 25) IF c6 THEN EXITSHORT AT MARKET ENDIF // Stops and targets // STOP AND TARGET SET STOP LOSS St SET TARGET PPROFIT Tp ENDIF

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated DEFPARAM FLATBEFORE = 070000 // Flat before this time DEFPARAM FLATAFTER = 205000 // Flat after this time //use ATR14 to set targets and stops     //Set Stop and Targets //reset stop and target IF NOT ONMARKET THEN St= 0 Tp= 0 // set Stop and target   //ONCE St =  ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize //ONCE Tp =  ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize   //prices to enter trades BuyPrice = High[0]+2*PointSize SellPrice = Low[0]-2*PointSize   // Conditions to enter long positions indicator1 = Stochastic[14,5](close) c1 = (indicator1 < 25)   indicator2 = Average[20](close) indicator3 = Average[50](close) c2 = (indicator2 > indicator3)   IF c1 AND c2 THEN BUY 1 PERPOINT AT BuyPrice STOP ENDIF // set stop IF LONGONMARKET THEN St =  BuyPrice - ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize Tp = BuyPrice + ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize ENDIF // Conditions to exit long positions indicator4 = Stochastic[14,5](close) c3 = (indicator4 CROSSES UNDER 75)   IF c3 THEN SELL  AT MARKET ENDIF   // Conditions to enter short positions indicator5 = Stochastic[14,5](close) c4 = (indicator5 > 75)   indicator6 = Average[50](close) indicator7 = Average[20](close) c5 = (indicator6 > indicator7)   IF c4 AND c5 THEN SELLSHORT 1 PERPOINT AT SellPrice STOP ENDIF // set stop IF SHORTONMARKET THEN St =  SellPrice + ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize Tp = SellPrice - ROUND((AverageTrueRange[14](CLOSE))*2)*PointSize ENDIF   // Conditions to exit short positions indicator8 = Stochastic[14,5](close) c6 = (indicator8 CROSSES OVER 25)   IF c6 THEN EXITSHORT  AT MARKET ENDIF   // Stops and targets // STOP AND TARGET SET STOP LOSS  St SET TARGET PPROFIT  Tp ENDIF

   

  

  Dymjohn

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  07/14/2016 at 12:34 PM #10460
  Nicolas

  You should compute them like this, without making any conversion to POINTS and set them as decimal values, not price ones:

  //stoploss and takeprofit for long positions St = ROUND((AverageTrueRange[14](CLOSE))*2) Tp = ROUND((AverageTrueRange[14](CLOSE))*2)

  1 2 3

  //stoploss and takeprofit for long positions St =  ROUND((AverageTrueRange[14](CLOSE))*2) Tp = ROUND((AverageTrueRange[14](CLOSE))*2)

  and use these instructions to set them:

  SET STOP LOSS St SET TARGET PROFIT Tp

  1 2	SET STOP LOSS  St SET TARGET PROFIT  Tp

  Without the “P” which is made to set POINTS/PIPS stoploss and takeprofit

  If you are using the strategy on EURUSD for example, you should expect St and Tp to be : 0.0016 , and that’s the kind of value that LOSS and PROFIT need.

  

  Nicolas

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  07/14/2016 at 2:33 PM #10467
  Dymjohn

  Thanks for looking at this Nicolas, however, neither the stops nor take profits are working on the DAX. e.g. on the tester a buy entry at 9:30, yesterday, was made at 9930.3. By 11:50 this was in profit of 72.5 points it was finally closed at 20:50 at 9943.8. Not sure which ATR the program will use but the entry bar was 15.30219 and the previous ATR 16.4528.

  Not sure what actually closed the trade as the stochastic crossed under 75  four times before closing the trade.

  I enclose my revised code for reference would appreciate your consideration.

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated DEFPARAM FLATBEFORE = 070000 // Flat before this time DEFPARAM FLATAFTER = 205000 // Flat after this time //use ATR14 to set targets and stops //Set Stop and Targets //reset stop and target IF NOT ONMARKET THEN St= 0 Tp= 0 //prices to enter trades BuyPrice = High[0]+2*PointSize SellPrice = Low[0]-2*PointSize // Conditions to enter long positions indicator1 = Stochastic[14,5](close) c1 = (indicator1 < 25) indicator2 = Average[20](close) indicator3 = Average[50](close) c2 = (indicator2 > indicator3) IF c1 AND c2 THEN BUY 1 PERPOINT AT BuyPrice STOP ENDIF // set stop IF LONGONMARKET THEN St = ROUND((AverageTrueRange[14](CLOSE))*2) Tp = ROUND((AverageTrueRange[14](CLOSE))*2) ENDIF // Conditions to exit long positions indicator4 = Stochastic[14,5](close) c3 = (indicator4 CROSSES UNDER 75) IF c3 THEN SELL AT MARKET ENDIF // Conditions to enter short positions indicator5 = Stochastic[14,5](close) c4 = (indicator5 > 75) indicator6 = Average[50](close) indicator7 = Average[20](close) c5 = (indicator6 > indicator7) IF c4 AND c5 THEN SELLSHORT 1 PERPOINT AT SellPrice STOP ENDIF // set stop IF SHORTONMARKET THEN St = ROUND((AverageTrueRange[14](CLOSE))*2) Tp = ROUND((AverageTrueRange[14](CLOSE))*2) ENDIF // Conditions to exit short positions indicator8 = Stochastic[14,5](close) c6 = (indicator8 CROSSES OVER 25) IF c6 THEN EXITSHORT AT MARKET ENDIF // Stops and targets // STOP AND TARGET SET STOP LOSS St SET TARGET PROFIT Tp ENDIF

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated DEFPARAM FLATBEFORE = 070000 // Flat before this time DEFPARAM FLATAFTER = 205000 // Flat after this time //use ATR14 to set targets and stops     //Set Stop and Targets //reset stop and target IF NOT ONMARKET THEN St= 0 Tp= 0   //prices to enter trades BuyPrice = High[0]+2*PointSize SellPrice = Low[0]-2*PointSize   // Conditions to enter long positions indicator1 = Stochastic[14,5](close) c1 = (indicator1 < 25)   indicator2 = Average[20](close) indicator3 = Average[50](close) c2 = (indicator2 > indicator3)   IF c1 AND c2 THEN BUY 1 PERPOINT AT BuyPrice STOP ENDIF // set stop IF LONGONMARKET THEN St = ROUND((AverageTrueRange[14](CLOSE))*2) Tp = ROUND((AverageTrueRange[14](CLOSE))*2) ENDIF // Conditions to exit long positions indicator4 = Stochastic[14,5](close) c3 = (indicator4 CROSSES UNDER 75)   IF c3 THEN SELL  AT MARKET ENDIF   // Conditions to enter short positions indicator5 = Stochastic[14,5](close) c4 = (indicator5 > 75)   indicator6 = Average[50](close) indicator7 = Average[20](close) c5 = (indicator6 > indicator7)   IF c4 AND c5 THEN SELLSHORT 1 PERPOINT AT SellPrice STOP ENDIF // set stop IF SHORTONMARKET THEN St = ROUND((AverageTrueRange[14](CLOSE))*2) Tp = ROUND((AverageTrueRange[14](CLOSE))*2) ENDIF   // Conditions to exit short positions indicator8 = Stochastic[14,5](close) c6 = (indicator8 CROSSES OVER 25)   IF c6 THEN EXITSHORT  AT MARKET ENDIF   // Stops and targets // STOP AND TARGET SET STOP LOSS  St SET TARGET PROFIT  Tp ENDIF

   

  

  Dymjohn

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  07/14/2016 at 6:14 PM #10471
  Nicolas

  On DAX, please try using PLOSS and PPROFIT instead.

  

  Nicolas

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  07/14/2016 at 6:37 PM #10472
  Dymjohn

  Hi Nicolas,

  Same result I’m afraid. Any other suggestions please?

  John

  

  Dymjohn

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  07/15/2016 at 8:29 AM #10477
  Nicolas

  Lines 69 and 70 should be at the end of code, not above your last endif.

  

  Nicolas

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  07/18/2016 at 5:10 PM #10563
  Dymjohn

  Hi Nicolas, been away for a couple of days but when I make this change I get the message

  Syntax error line 72 character 1

  So any other ideas please?

  John

  

  Dymjohn

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  07/18/2016 at 7:44 PM #10570
  Nicolas

  I have not tested your code, but I think that it should end like this:

  ENDIF SET STOP LOSS St SET TARGET PROFIT Tp

  1 2 3

  ENDIF SET STOP LOSS  St SET TARGET PROFIT  Tp

  Make sure that any IF are correctly ended with an ENDIF.

   

  

  Nicolas

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  07/19/2016 at 8:49 AM #10584
  Dymjohn

  Thanks Nicolas found an if without an endif

  

  Dymjohn

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  11/07/2022 at 10:53 AM #203747
  lilo789

  Hi everybody,

   

   

  I hope you will appreciate this TV script : https://www.tradingview.com/script/ofwFdl2A-stoch-supertrd-atr-200ma/

  It features:

  – ATR StopLoss using the price + an ATR multiplier

  -ATR TakeProfit using the price + the same ATR mult * 2  so it creates a 1:2  Risk/Reward

  – a trade breakeaven stop

  The sl/tp are fixed once the trade is launched and do not look to update along the trade.

  All these gives a better maxDD, specially the breakeven feature.

   

  Cheers 🙂

  

  lilo789

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  11/07/2022 at 2:26 PM #203763
  GraHal

  I reckon you should open a new / separate Topic and post the full script off Trading View and see if some kind soul might convert to PRT for you / us? 🙂

  

  GraHal

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  11/07/2022 at 4:21 PM #203771
  lilo789

  Hi GraHal 🙂

   

  I’ll try to remember to do so within the week but first I will give it a tr by my self maybe I can do it 😀

   

   

  Have a nice week

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  GraHal

  

  lilo789

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  11/09/2022 at 7:49 PM #203878
  lilo789

  Hi again

   

   

  There you are:

  https://www.prorealcode.com/topic/atr-take-profit-stop-breakeven/

   

   

  Kind Regards

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  GraHal

  

  lilo789

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