Is this code ok as a trailing SL.
Can i have a solid SL and TP at the same time as i have trailing SL?
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trailingstop = 34
//resetting variables when no trades are on market
if not onmarket then
MAXPRICE = 0
MINPRICE = close
priceexit = 0
endif
//case SHORT order
if shortonmarket then
MINPRICE = MIN (MINPRICE,close ) //saving the MFE of the current trade
if tradeprice (1 )- MINPRICE>= trailingstop* pointsize then //if the MFE is higher than the trailingstop then
priceexit = MINPRICE+ trailingstop* pointsize //set the exit price at the MFE + trailing stop price level
endif
endif
//case LONG order
if longonmarket then
MAXPRICE = MAX (MAXPRICE,close ) //saving the MFE of the current trade
if MAXPRICE- tradeprice (1 )>= trailingstop* pointsize then //if the MFE is higher than the trailingstop then
priceexit = MAXPRICE- trailingstop* pointsize //set the exit price at the MFE - trailing stop price level
endif
endif
//exit on trailing stop price levels
if onmarket and priceexit> 0 then
EXITSHORT AT priceexit STOP
SELL AT priceexit STOP
endif
SET STOP ploss 50
SET TARGET pPROFIT 50
.
