TRAILING PSAR STOP

• 08/21/2017 at 10:21 AM #44278
  denmar

  Hi

  I hope I am posting this in the correct forum – see ahead

  I am a bit confused how trailing stops work. I want to open a position manually then invoke/start a trailing stop (Parabolic SAR, standard settings). I am familiar with scripts in Metatrader where one would start the desired one after opening a position.

  I found some code on the forum but this is a trading system which automatically initiates and closes trades. (see below)

  Where I get confused is is it possible to open a trade manually and trade it automatically – is this done via an indicator or trading system (or something else?) Any pointers would be greatly appreciated.

  An associated question: Is the stop triggered when the value is reached, or only at the close of the bar? Is there a way to specify for either condition?

  /——————————————————

  /sorry -no idea how to use BBCodes ………………….

  REM INDICATOR mySAR = SAR[0.02,0.02,0.2] REM CONDITIONS c1 = mySAR >= High c2 = mySAR <= Low IF Not OnMarket THEN IF c1 THEN   BUY 1 CONTRACT AT mySAR STOP ENDIF IF c2 THEN   SELLSHORT 1 CONTRACT AT mySAR STOP ENDIF ENDIF IF LongOnMarket THEN mySTOP= mySAR   IF Close >= TradePrice(1) THEN    mySTOP = mySAR    SELL AT mySTOP STOP   ELSE    SELL AT mySTOP STOP ENDIF ENDIF IF ShortOnMarket THEN mySTOP= mySAR   IF Close <= TradePrice(1) THEN    mySTOP = mySAR    EXITSHORT AT mySTOP STOP   ELSE    EXITSHORT AT mySTOP STOP   ENDIF ENDIF

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  REM INDICATOR mySAR = SAR[0.02,0.02,0.2] REM CONDITIONS c1 = mySAR >= High c2 = mySAR <= Low IF Not OnMarket THEN IF c1 THEN   BUY 1 CONTRACT AT mySAR STOP ENDIF IF c2 THEN   SELLSHORT 1 CONTRACT AT mySAR STOP ENDIF ENDIF IF LongOnMarket THEN mySTOP= mySAR   IF Close >= TradePrice(1) THEN    mySTOP = mySAR    SELL AT mySTOP STOP   ELSE    SELL AT mySTOP STOP ENDIF ENDIF IF ShortOnMarket THEN mySTOP= mySAR   IF Close <= TradePrice(1) THEN    mySTOP = mySAR    EXITSHORT AT mySTOP STOP   ELSE    EXITSHORT AT mySTOP STOP   ENDIF ENDIF

  

  denmar

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  08/21/2017 at 10:44 AM #44282
  Nicolas

  Stops are triggered once the price is reached if you are dealing with pending STOP (or LIMIT) orders, since they are in your broker orders book.

  About your query, I’m sorry but it is not possible to deal with manual orders with ProOrder. A lot of people would be interested in this feature for sure .. You can ask directly prorealtime with their suggestion box:  https://www.prorealtime.com/en/contact?suggestion=1

  

  Nicolas

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  08/22/2017 at 8:07 AM #44329
  denmar

  Thanks for the information Nicolas. I will certainly follow-up on your suggestion.

  

  denmar

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  08/22/2017 at 7:38 PM #44389
  juanj

  Allowing an automated strategy to automatically manage exits of manually opened trades is way overdue imho.

  

  juanj

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