Stoploss beyond high/low previous bar

• 01/05/2022 at 8:57 PM #184677
  RichardVeen

  Hi,

  I found the code below on this forum it works fine.

  Sample code

  Defparam cumulateorders = false //order launch (example) would be set to any other entry conditions c1 = close>close[1] c2 = close<close[1] if c1 then BUY 1 LOT AT MARKET set target pprofit 30 set stop loss abs((close-low))+2*pointsize endif if c2 then SELLSHORT 1 LOT AT MARKET set target pprofit 30 set stop loss abs((close-high))+2*pointsize endif

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

  Defparam cumulateorders = false   //order launch (example) would be set to any other entry conditions c1 = close>close[1] c2 = close<close[1]   if c1 then BUY 1 LOT AT MARKET set target pprofit 30 set stop loss abs((close-low))+2*pointsize   endif   if c2 then SELLSHORT 1 LOT AT MARKET set target pprofit 30 set stop loss abs((close-high))+2*pointsize endif

  But I want to change code a little bit to cover the following situation:

  Buy LONG: set the stoploss 1 point beyond the low of the previous bar.

  Sell SHORT: set the stoploss 1 point beyond the high of the previous bar

  Applicable for both situations: as long as the trade is active, the stoploss moves to the following bar. So it is a trailing stop beyond the high/low of each previous bar as long as the trade is active.

  Is that possible?

   

   

   

  

  RichardVeen

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  01/05/2022 at 11:41 PM #184684
  robertogozzi

  There you go (not tested):

  Defparam cumulateorders = false   //order launch (example) would be set to any other entry conditions c1 = close>close[1] c2 = close<close[1]   if c1 then BUY 1 LOT AT MARKET set target pprofit 30 sl = low[1] - 1*pointsize Sell at sl STOP endif   if c2 then SELLSHORT 1 LOT AT MARKET set target pprofit 30 sl = high[1] + 1*pointsize Exitshort at sl STOP endif If LongOnMarket Then sl = max(sl,low[1] - 1*pointsize) Sell at sl STOP Elsif ShortOnMarket then sl = min(sl,high[1] + 1*pointsize) Exitshort at sl STOP Endif

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27

  Defparam cumulateorders = false   //order launch (example) would be set to any other entry conditions c1 = close>close[1] c2 = close<close[1]   if c1 then BUY 1 LOT AT MARKET set target pprofit 30 sl = low[1] - 1*pointsize Sell at sl STOP endif   if c2 then SELLSHORT 1 LOT AT MARKET set target pprofit 30 sl = high[1] + 1*pointsize Exitshort at sl STOP endif   If LongOnMarket Then sl = max(sl,low[1] - 1*pointsize) Sell at sl STOP Elsif ShortOnMarket then sl = min(sl,high[1] + 1*pointsize) Exitshort at sl STOP Endif

   

  

  robertogozzi

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  01/06/2022 at 10:20 AM #184719
  RichardVeen

  It’s working!

  Thanks again Roberto.

  

  RichardVeen

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  06/15/2023 at 4:13 PM #216294
  RichardVeen

  Hi,

  I received the code below from @robertogozzi

  Defparam cumulateorders = false

  //order launch (example) would be set to any other entry conditions

  c1 = close>close[1]

  c2 = close<close[1]

  if c1 then

  BUY 1 LOT AT MARKET

  set target pprofit 30

  sl = low[1] – 1*pointsize

  Sell at sl STOP

  endif

  if c2 then

  SELLSHORT 1 LOT AT MARKET

  set target pprofit 30

  sl = high[1] + 1*pointsize

  Exitshort at sl STOP

  endif

  If LongOnMarket Then

  sl = max(sl,low[1] – 1*pointsize)

  Sell at sl STOP

  Elsif ShortOnMarket then

  sl = min(sl,high[1] + 1*pointsize)

  Exitshort at sl STOP

  Endif

  And this code is working correctly, it sets the stop below the previous candle, when the trade starts.

  But when the current candle closes (the candle where the trade started) and a new candle open, then my stop disappear and I have no stop.

  So I have 2 questions:

  1. Is it possible to leave the stop at the initials previous candle, also when a new candle starts?

  2. Is it possible that the stop moves to the next candle when a new candle begins? So it will a stop above/below a ‘new previous’ candle

  

  RichardVeen

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  06/15/2023 at 5:16 PM #216297
  robertogozzi

  It’s just the two of us, it’s useless to use the “@” sign, as it’s quite easy to know who your are talking to! 🙂

  Are there any differences from the code I posted and the one you posted?

   

  

  robertogozzi

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  06/15/2023 at 5:23 PM #216298
  PeterSt

  The @ sign is a Mention.
  Maybe you know what it implies.

  

  PeterSt

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  06/15/2023 at 6:23 PM #216304
  robertogozzi

  Ok, the two code snippets are the same.

  It seems to be working fine. Try appending this line to your code:

  graphonprice sl coloured("Red")

  1	graphonprice sl coloured("Red")

  to sport any incorrect value.

  If you find incorrect values, please point a few out by letting me know the instrument used, time frame, date and time of the entry candle.

   

   

  

  robertogozzi

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  06/15/2023 at 7:57 PM #216311
  RichardVeen

  Hi Roberto,

  When I test with the ‘graphonprice line’, I see that it is working but when I test my code with automatic trading, it doesn’t.

  Micro Nasdaq – 1 minute

  Enter short: 15.391 -> Bar Open: 15.393.25 ….Close:15.392,75…Low: 15.382,50

  Time: 20:46h (today) – I just did it

  SL = 15.400 above the high of previous bar

  Next bar: Open: 15.392,50….Close: 15.394,50

  Time: 20.47

  The SL disappear

  

  RichardVeen

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  06/16/2023 at 1:11 AM #216316
  robertogozzi

  The code above closes a trade at 20:46 and opens the nexct one at 20:47, but prices are different from those you posted.

  It must be a different instrument or a different time.

  Attach a screenshot of the whole chart.

   

  

  robertogozzi

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  06/21/2023 at 6:51 PM #216559
  RichardVeen

  Hi Roberto,

   

  I did a trade with a simple code as stated below:

  If not onmarket and hora1 and hora2 and Close>Open and Close[1]<Open[1] then
  Buy possize contract at high + 1 * pointsize stop
  SET TARGET PPROFIT 15
  sl = low[1] – 1*pointsize
  Sell at sl STOP

  elsif not onmarket and hora1 and hora2 and Close<Open and Close[1]>Open[1]then
  Sellshort possize contract at low + 1 * pointsize stop
  set target pprofit 15
  sl = high[1] + 1*pointsize

  If LongOnMarket Then
  sl = max(sl,low[1] – 1*pointsize)
  Sell at sl STOP
  Elsif ShortOnMarket then
  sl = min(sl,high[1] + 1*pointsize)
  Exitshort at sl STOP
  Endif
  endif

  When I enter the trade the ‘Stop’ is visible but after 1 candle, the ‘Stop’ disappear.

  I have attached screenshots of the trade. The 1st screenshot shows the entry of the trade and the Stop. The 2nd screenshot, the trade is still active but the Stop is not there anymore.

  Can you please check why the ‘Stop’ disappear when the next candle appears?

   

  

  RichardVeen

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  06/21/2023 at 11:03 PM #216579
  robertogozzi

  The whole chart, not just a small part. I need to read all info.

   

   

  

  robertogozzi

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  06/22/2023 at 12:22 AM #216588
  PeterSt

  If not onmarket and hora1 and hora2 and Close>Open and Close[1]<Open[1] then Buy possize contract at high + 1 * pointsize stop SET TARGET PPROFIT 15 sl = low[1] – 1*pointsize Sell at sl STOP elsif not onmarket and hora1 and hora2 and Close<Open and Close[1]>Open[1]then Sellshort possize contract at low + 1 * pointsize stop set target pprofit 15 sl = high[1] + 1*pointsize If LongOnMarket Then sl = max(sl,low[1] – 1*pointsize) Sell at sl STOP Elsif ShortOnMarket then sl = min(sl,high[1] + 1*pointsize) Exitshort at sl STOP Endif endif

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

  If not onmarket and hora1 and hora2 and Close>Open and Close[1]<Open[1] then   Buy possize contract at high + 1 * pointsize stop   SET TARGET PPROFIT 15   sl = low[1] – 1*pointsize   Sell at sl STOP   elsif not onmarket and hora1 and hora2 and Close<Open and Close[1]>Open[1]then   Sellshort possize contract at low + 1 * pointsize stop   set target pprofit 15   sl = high[1] + 1*pointsize     If LongOnMarket Then     sl = max(sl,low[1] – 1*pointsize)     Sell at sl STOP   Elsif ShortOnMarket then     sl = min(sl,high[1] + 1*pointsize)     Exitshort at sl STOP   Endif endif

  As you can see, your structure is not correct. The main ElsIf is executed only once, when not OnMarket. After that you are OnMarket and the Sell at sl Stop (or ExitShort at sl Stop) is executed only once.
  Notice that these “Pending Stop” orders need to be executed each new bar. Thus it needs to be something like this :

  If not onmarket and hora1 and hora2 and Close>Open and Close[1]<Open[1] then Buy possize contract at high + 1 * pointsize stop SET TARGET PPROFIT 15 sl = low[1] – 1*pointsize //Sell at sl STOP elsif not onmarket and hora1 and hora2 and Close<Open and Close[1]>Open[1]then Sellshort possize contract at low + 1 * pointsize stop set target pprofit 15 sl = high[1] + 1*pointsize endif If LongOnMarket Then sl = max(sl,low[1] – 1*pointsize) Sell at sl STOP // Must be repeated at each bar. Elsif ShortOnMarket then sl = min(sl,high[1] + 1*pointsize) Exitshort at sl STOP // Must be repeated at each bar. Endif

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

  If not onmarket and hora1 and hora2 and Close>Open and Close[1]<Open[1] then   Buy possize contract at high + 1 * pointsize stop   SET TARGET PPROFIT 15   sl = low[1] – 1*pointsize //Sell at sl STOP   elsif not onmarket and hora1 and hora2 and Close<Open and Close[1]>Open[1]then   Sellshort possize contract at low + 1 * pointsize stop   set target pprofit 15   sl = high[1] + 1*pointsize endif   If LongOnMarket Then   sl = max(sl,low[1] – 1*pointsize)   Sell at sl STOP   // Must be repeated at each bar. Elsif ShortOnMarket then   sl = min(sl,high[1] + 1*pointsize)   Exitshort at sl STOP   // Must be repeated at each bar. Endif

   

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  RichardVeen, robertogozzi

  

  PeterSt

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  06/22/2023 at 9:01 AM #216605
  RichardVeen

  Hi guys,

  It’s working! That’s really great!

  See the screenshots 3 & 4.

  The only thing what I see, is that sometime the ‘Stop’ is not immediately active with the first candle but the ‘Stop’ appears with the 2nd candle.

  See Screenshots 5 & 6

  Do you why it happens?

  

  RichardVeen

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  06/22/2023 at 12:40 PM #216615
  PeterSt

  If LongOnMarket Then sl = max(sl,low[1] – 1*pointsize) Sell at sl STOP // Must be repeated at each bar. Elsif ShortOnMarket then sl = min(sl,high[1] + 1*pointsize) Exitshort at sl STOP // Must be repeated at each bar. Endif

  1 2 3 4 5 6 7

  If LongOnMarket Then   sl = max(sl,low[1] – 1*pointsize)   Sell at sl STOP   // Must be repeated at each bar. Elsif ShortOnMarket then   sl = min(sl,high[1] + 1*pointsize)   Exitshort at sl STOP   // Must be repeated at each bar. Endif

  You say “sometime not” but I would attest “always not”. 😉
  After your code has executed and a new position is taken – which is visible in the next bar – the code needs to be called again before it can see that LongOnMarket is true. So only then (see code snippet) the pending order can emerge. Not on the same bar as where the position was taken. And so it runs one bar behind.
  Notice that a normal StopLoss (Set Stop Loss) order would become visible at the same time as the position itself – at the first bar after your code was executed.

  1 user thanked author for this post.

  RichardVeen

  

  PeterSt

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  06/22/2023 at 4:01 PM #216625
  RichardVeen

  Ok, now I understand.

  Thanks Roberto & Peter for your help!

  Really appreciated.

   

  

  RichardVeen

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