stop loss 5 pips below or above the previous candle

• 07/07/2022 at 7:00 PM #196995
  sibeihotan

  Hi Roberto,

  Many thanks for your trailing stop code.

  Just need some help – I would like to add in a hard stop loss in addition to these trailing stop codes.

  For example, when i have a long position, i want the stop to be 5 pips below the previous candle and for short positions, 5 pips above the previous candle, can i code it something like this and put it in addition to your codes?

  stoploss = close-(Low[1]-5*pointsize) set stop loss stoploss if longonmarket then set stop loss stoploss endif stoploss1 = close-(High[1]-5*pointsize) set stop loss stoploss1

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  stoploss = close-(Low[1]-5*pointsize) set stop loss stoploss   if longonmarket then set stop loss stoploss endif   stoploss1 = close-(High[1]-5*pointsize) set stop loss stoploss1

  I’m new to PRT – any help would be greatly appreciated.

  Thanks!

  

  sibeihotan

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  07/07/2022 at 7:14 PM #196997
  robertogozzi

  Do NOT append your questions to unrelated exixting topic. Create a new one, instead.

  Thank you 🙂

  Your code looks is almost correct, just use ABS() to make sure you get positive values and remove SET STOP LOSS outside IF…ENDIF to make sure you don’t overwrite the previous one when OnMarket:

  stoploss = abs(close-Low[1])-5*pointsize if longonmarket then set stop loss stoploss endif stoploss1 = abs(close-High[1])+5*pointsize if shortonmarket then set stop loss stoploss1 endif

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  stoploss = abs(close-Low[1])-5*pointsize if longonmarket then set stop loss stoploss endif stoploss1 = abs(close-High[1])+5*pointsize if shortonmarket then set stop loss stoploss1 endif

  You can append Nicolss’code to your code, for sure.

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  sibeihotan

  

  robertogozzi

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