stoploss on a moving average

• 02/10/2023 at 9:07 PM #209529
  phoentzs

  Hello, I know that this rejection exists, but unfortunately I can’t find it anymore. I’m looking for the code how to put a stoploss directly on a moving average. For example, I enter the trade long and set the stop loss below an SMA. How exactly do you code this?

  

  phoentzs

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  02/11/2023 at 8:52 AM #209533
  robertogozzi

  There you go:

  MA = average[20,0](close) If MyLongConditions then Buy at Market Set Stop Price MA - 1*PipSize Endif

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  MA = average[20,0](close) If MyLongConditions then    Buy at Market    Set Stop Price MA - 1*PipSize Endif

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  04/26/2023 at 7:40 PM #213784
  phoentzs

  In order to achieve the minimum distance of the SL I use the following for long only:

  Set Stop Price MA – 4*PipSize

  For short only this:

  Set Stop Price MA + 4*PipSize

  But if I want to pack both long and short in one system. How do I write the SL so it doesn’t get mixed up? Do I need to use a for loop somehow?
  I have to say I use it outside of the buy/sell block. As a kind of trailing stop.

   

   

  

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  04/26/2023 at 9:05 PM #213788
  GraHal

  How about …

  If LongonMarket Then Set Stop Price MA - 4*pipsize Endif

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  If LongonMarket Then Set Stop Price MA - 4*pipsize Endif

  You mean all these Trailing Stop Codes and above is all we need – 3 lines of code!? 😉

  I’ll give it a go myself!

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  GraHal

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  04/27/2023 at 9:25 AM #213794
  phoentzs

  No of course not. But there is a way to tighten the sling without a coded trailing stop. 😉

  

  phoentzs

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  04/27/2023 at 3:37 PM #213805
  robertogozzi

  This way (not tested):

  MA = average[20,0](close) If MyLongConditions then Buy at Market SL = MA - 4*PipSize ELSIf MyShortConditions then SellShort at Market SL = MA + 4*PipSize Endif IF LongOnMarket THEN SL = max(SL, MA - 4*PipSize) ELSIF ShortOnMarket THEN SL = min(SL, MA + 4*PipSize) ENDIF Set Stop Price SL

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  MA = average[20,0](close) If MyLongConditions then    Buy at Market    SL = MA - 4*PipSize ELSIf MyShortConditions then    SellShort at Market    SL = MA + 4*PipSize Endif IF LongOnMarket THEN    SL = max(SL, MA - 4*PipSize) ELSIF ShortOnMarket THEN    SL = min(SL, MA + 4*PipSize) ENDIF Set Stop Price SL

   

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  05/01/2023 at 11:26 PM #213954
  ZeroCafeine

  @phoentzs
  I prefer to use two different codes for Long and Short, Don’t forget that the SellShort function can make you get out of a Long position as if you executed a normal Sell in case you mismanage the entry and exit level (or an unexpected conflict in programming), moreover the SellShort will make you get out of your Long position but it will not open a Short position, you will still have to execute the SellShort function to open a Short

  

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  08/13/2023 at 9:36 PM #219007
  phoentzs

  I would like to add a maximum SL to this code. That is, if the price is very far from the SMA20 and going against me, I don’t want a huge loss to the SMA, just 0.25%. In this way you lose a maximum of 0.25% per trade. If the position turns into profit, the MA-SL secures the profits. The function can be equated with the following function, which I use in TF M1:

  Set stop %loss 0.25

  if longonmarket and close

  

  phoentzs

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  08/19/2023 at 3:20 PM #219341
  robertogozzi

  This version will set a 0.25% SL when the distance between the SL and the entry price is greater than 50 pips:

  MyLongConditions = close CROSSES OVER average[20,0](close) MyShortConditions = close CROSSES UNDER average[20,0](close) MA = average[20,0](close) IF Not OnMarket THEN SL = 0 SET STOP LOSS 0 ENDIF If MyLongConditions then Buy at Market SL = MA - 4*PipSize ELSIf MyShortConditions then SellShort at Market SL = MA + 4*PipSize Endif IF LongOnMarket THEN SL = max(SL, MA - 4*PipSize) ELSIF ShortOnMarket THEN SL = min(SL, MA + 4*PipSize) ENDIF IF abs(SL - TradePrice) > 50*PipSize THEN SET STOP %LOSS 0.25 ELSE SET STOP PRICE SL ENDIF

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  MyLongConditions  = close CROSSES OVER  average[20,0](close) MyShortConditions = close CROSSES UNDER average[20,0](close) MA = average[20,0](close) IF Not OnMarket THEN    SL = 0    SET STOP LOSS 0 ENDIF If MyLongConditions then    Buy at Market    SL = MA - 4*PipSize ELSIf MyShortConditions then    SellShort at Market    SL = MA + 4*PipSize Endif IF LongOnMarket THEN    SL = max(SL, MA - 4*PipSize) ELSIF ShortOnMarket THEN    SL = min(SL, MA + 4*PipSize) ENDIF IF abs(SL - TradePrice) > 50*PipSize THEN    SET STOP %LOSS 0.25 ELSE    SET STOP PRICE SL ENDIF

   

   

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