Supertrend stop loss

• 07/15/2023 at 3:01 PM #217693
  SVK

  Hi all,

  again I have run out of talent so I’m turning to you knowledgable guys for help.

   

  I’m trying to create stop loss based on supertrend indicator.

  Long condition can be executed once bar closes above Supertrend 2 – 11 or Supertrend 3 – 12.

  If long is executed at Supertrend 2 – 11 then stop loss needs to be placed at 2 -11.

  If long is executed at Supertrend 3 – 12 then stop loss needs to be placed at 3 -12.

   

  I have run the strategy with folowing code:

  IF NOT shortOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON THEN BUY 1 PERPOINT AT MARKET StopInd = close-SuperTrend[3,12] ENDIF // Stops and targets SET STOP pLOSS StopInd SET TARGET pPROFIT StopInd *1.6

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  IF NOT shortOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON THEN BUY 1 PERPOINT AT MARKET StopInd = close-SuperTrend[3,12] ENDIF     // Stops and targets SET STOP pLOSS StopInd SET TARGET pPROFIT StopInd *1.6

  Problem is that Supertrend 3 – 12 is not always below the bar close so I have caught a trade with no stop loss set 🙁

  Would anyone know how to code this for Long and Short trading please ?

  Thank you very much for the help

  

  SVK

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  07/16/2023 at 11:11 AM #217710
  ProRealAlgos

  What do you want to happen if the supertrend is bigger than the close?

  The code below catches such cases and sets the stoploss to 30 points.

  IF NOT shortOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON THEN BUY 1 PERPOINT AT MARKET StopInd = close-SuperTrend[3,12] ENDIF   If Stopind < 0 then Stopind = 30 Endif   // Stops and targets SET STOP pLOSS StopInd SET TARGET pPROFIT StopInd *1.6

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  IF NOT shortOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON THEN BUY 1 PERPOINT AT MARKET StopInd = close-SuperTrend[3,12] ENDIF   If Stopind < 0 then Stopind = 30 Endif   // Stops and targets SET STOP pLOSS StopInd SET TARGET pPROFIT StopInd *1.6

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  SVK

  

  ProRealAlgos

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  07/16/2023 at 4:28 PM #217720
  SVK

  Hi ProrealAlgos,

   

  many thanks for your response.

  I was thinking of having two options for stop loss.

  StopInd 1 = close–SuperTrend[3,12]

  StopInd 2 = close–SuperTrend[2,11]

   

  If trade is executed and SuperTrend[3,12] is above Close then Stop loss is placed at  SuperTrend[2,11] level.

  If trade is executed and SuperTrend[3,12] is below Close then Stop loss is placed at  SuperTrend[3,12] level.

   

  

  SVK

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  07/17/2023 at 10:06 AM #217730
  Nicolas

  SVK wrote:

  If trade is executed and SuperTrend[3,12] is above Close then Stop loss is placed at  SuperTrend[2,11] level. If trade is executed and SuperTrend[3,12] is below Close then Stop loss is placed at  SuperTrend[3,12] level.

  Find below the code to achieve this:

  if SuperTrend[3,12]>close then set stop price SuperTrend[2,11] else set stop price SuperTrend[3,12] endif

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  if SuperTrend[3,12]>close then set stop price SuperTrend[2,11] else set stop price SuperTrend[3,12] endif

   

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  SVK

  

  Nicolas

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  07/17/2023 at 11:16 PM #217797
  SVK

  1

  Nicolas,

  thank you very much for your help.

  Unfortunately I must be doing something wrong as it doesn’t work.

  I have insrted your code like this:

  // IF NOT shortOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON and DayLimit THEN BUY 1 PERPOINT AT MARKET if SuperTrend[3,12]>close then set stop price SuperTrend[2,11] else set stop price SuperTrend[3,12] endif ENDIF

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  // IF NOT shortOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON and DayLimit  THEN BUY 1 PERPOINT AT MARKET if SuperTrend[3,12]>close then set stop price SuperTrend[2,11] else set stop price SuperTrend[3,12] endif ENDIF

   

   

  This way code just keeps following Supertrend and doesn’t place stop loss at the trigger bar.

  

  SVK

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  07/18/2023 at 9:40 AM #217809
  Nicolas

  Because you have wrongly coded the conditions, the IF statement is entered and therefore the stoploss is updated with the SET STOP PRICE instruction.

  Replace

  IF NOT shortOnMarket

  with

  IF NOT longOnMarket

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  SVK

  

  Nicolas

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  07/18/2023 at 6:12 PM #217844
  SVK

  Thank you very much Nicolas.

   

  Can I run Long and Short strategies at the same time on the same instrument with IF NOT longOnMarket ?
  

  

  SVK

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  07/18/2023 at 6:27 PM #217848
  GraHal

  Yes if you use something like below …

  IF NOT shortOnMarket AND ShortCond Then SellShort at Market Endif IF NOT longOnMarket AND LongCond Then Buy at Market Endif

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  IF NOT shortOnMarket AND ShortCond Then SellShort at Market Endif   IF NOT longOnMarket AND LongCond Then Buy at Market Endif

   

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  SVK

  

  GraHal

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  07/18/2023 at 7:09 PM #217851
  SVK

  Thank you very much Grahal.

   

  Now I’m trying to figure out how to place profit target at *1.5 of a set stop price.

  So far 1 hour and 7 minutes and I’m nowhere. LOL

  // IF NOT longOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON and DayLimit THEN BUY 1 PERPOINT AT MARKET if SuperTrend[3,12]>close then set stop price SuperTrend[2,11] else set stop price SuperTrend[3,12] endif ENDIF

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  // IF NOT longOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON and DayLimit  THEN BUY 1 PERPOINT AT MARKET if SuperTrend[3,12]>close then set stop price SuperTrend[2,11] else set stop price SuperTrend[3,12] endif ENDIF

  

  SVK

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  07/18/2023 at 8:46 PM #217853
  GraHal

  Yes coding is very time consuming, especially if at the end of a few hours there  isn’t  a working result!

  Have you tried below …

  set stop price (SuperTrend[2,11] + (0.5*SuperTrend[2,11]))

  But do you really mean 1.5*Price anyway?   Taking DJI at 35,000 this gives 52,500 for 1.5*Price??

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  SVK

  

  GraHal

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  07/18/2023 at 9:04 PM #217854
  SVK

  Thanks Grahal.

  Nope nope that would be crazy 🙂

  If stop loss is placed at Supertrend 3,12 then profit is 1.5* of a stop loss.

  So Spuertrend 3,12 stop loss is 10 points then take profit is 15 points.

  

  SVK

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  07/18/2023 at 9:16 PM #217855
  GraHal

  Ah right gotcha, sorry watching a film at same time so not concentrating.

  How about below …

  IF NOT longOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON and DayLimit THEN BUY 1 PERPOINT AT MARKET if SuperTrend[3,12]>close then set stop price SuperTrend[2,11] else set stop price SuperTrend[3,12] Set Target Price (Close + ((Close - SuperTrend[2,11]) *1.5)) endif ENDIF

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  IF NOT longOnMarket and Trigger AND CondiLong1 and CondiLong2 AND TradingON and DayLimit  THEN BUY 1 PERPOINT AT MARKET if SuperTrend[3,12]>close then set stop price SuperTrend[2,11] else set stop price SuperTrend[3,12] Set Target Price (Close + ((Close -  SuperTrend[2,11]) *1.5)) endif ENDIF

   

   

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  SVK

  

  GraHal

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  07/19/2023 at 2:20 PM #217874
  SVK

  Grahal,

   

  it works and it improved the forward testing results 🙂
  Thank you very much for that 🙂

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  GraHal

  

  SVK

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