Stop sell order and Breakeven after Gap Down

• 09/30/2024 at 1:37 PM #238293
  Lambo

  Hello,

  I would like to test a Short Gap Strategy.

  Here I need help for two points:

  a) I have choosen the 15 minute Chart and want to go short under the first candle low of the day with the gap down. So if the low of the first candle of the day in Dax Future is 18000, the Code should go short if the price is  under 18000 – means 17999. And the order ist guilty for 10 bars. After the time there is no trade, because no short momentum.

  b) Sometimes We see a sharp short move of over 1% and then there is a V-Formation in low and the course climbing strong long. Here I need a breakeven setup. If the course is 1% in profit set breakeven for the trade. Is this possible?

  Thank you very much.

   

  

  Lambo

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  10/01/2024 at 5:35 PM #238376
  robertogozzi

  This is the code for your request a):

  ONCE myTime = 090000 IF OpenTime = myTime THEN EntryPrice = low - 1*PipSize myBar = BarIndex ENDIF IF OnMarket THEN myBar = 0 EntryPrice = 0 ENDIF IF myBar AND ((BarIndex - myBar) = 10) THEN myBar = 0 EntryPrice = 0 ENDIF IF EntryPrice THEN SELLSHORT 1 Contract at EntryPrice STOP SET STOP pLOSS 50 SET TARGET pPROFIT 100 ENDIF

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  ONCE myTime = 090000 IF OpenTime = myTime THEN    EntryPrice = low - 1*PipSize    myBar      = BarIndex ENDIF IF OnMarket THEN    myBar      = 0    EntryPrice = 0 ENDIF IF myBar AND ((BarIndex - myBar) = 10) THEN    myBar      = 0    EntryPrice = 0 ENDIF IF EntryPrice THEN    SELLSHORT 1 Contract at EntryPrice STOP    SET STOP   pLOSS   50    SET TARGET pPROFIT 100 ENDIF

  as to you request b), can you better explain it?

   

   

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  robertogozzi

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  10/02/2024 at 3:44 PM #238415
  Lambo

  First of all – Thank you very much Roberto.

  b) I want to have a breakeven if the trade ist 1% in profit. Means the trade started on 18000 and the course is now under 17.820. Then i want an stoploss which ist on 18000. (Perhaps in Addition: an Order which close 25% of the position on 17.820. would also be a nice add.)

  I hope this is now a little bit easier to understand.

  Thanks !

   

  

  Lambo

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  10/02/2024 at 4:17 PM #238427
  robertogozzi

  This version includes request b:

  ONCE myTime = 090000 ONCE PerCent = 0.5 ONCE myBar = 0 ONCE EntryPrice = 0 IF OpenTime = myTime THEN EntryPrice = low - 1*PipSize myBar = BarIndex ENDIF IF OnMarket THEN myBar = 0 IF close <= (EntryPrice - (EntryPrice * PerCent / 100)) THEN SET STOP PRICE EntryPrice ENDIF ENDIF IF myBar AND ((BarIndex - myBar) = 10) THEN myBar = 0 ENDIF IF myBar THEN SELLSHORT 1 Contract at EntryPrice STOP SET STOP pLOSS 150 SET TARGET pPROFIT 300 ENDIF //graphonprice EntryPrice coloured("Red")

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  ONCE myTime     = 090000 ONCE PerCent    = 0.5 ONCE myBar      = 0 ONCE EntryPrice = 0 IF OpenTime = myTime THEN    EntryPrice = low - 1*PipSize    myBar      = BarIndex ENDIF IF OnMarket THEN    myBar = 0    IF close <= (EntryPrice - (EntryPrice * PerCent / 100)) THEN       SET STOP PRICE EntryPrice    ENDIF ENDIF IF myBar AND ((BarIndex - myBar) = 10) THEN    myBar      = 0 ENDIF IF myBar THEN    SELLSHORT 1 Contract at EntryPrice STOP    SET STOP   pLOSS   150    SET TARGET pPROFIT 300 ENDIF //graphonprice EntryPrice coloured("Red")

   

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  Iván, Lambo

  

  robertogozzi

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