Trailing Stop – Automatic

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10/27/2018 at 7:43 PM #83617 quote
CA
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New
Hello,

I am trying to make, somehow, the following:
1. My trading system requires to have an initial stop loss of 150 points.
2. Then I have a target, let’s say, at 300 points.
3. However, instead of establishing a target on the 300 points I would like just to create a new stop once the 300 points with a trailing stop of 50 points, that way I can still having benefits from the trend.
I have been trying several codes for this pourpose but I have not been able to code it!

Any ideas? Is it actually possible?
10/30/2018 at 10:30 AM #83775 quote

Nicolas
Keymaster

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Hi,
>> Please update your country flag in your profile. Thank you 🙂 <<
Many times already this question has been answered 😉 You’ll find many trailing stop function on the website, in all sections (forums, library, blog). You can start with the ones from the blog: Complete trailing stop code function Trailing stop with the Max Favorable Excursion (MFE)

10/30/2018 at 1:23 PM #83793 quote

CA
Participant

New

Hi Nicolas, Thank you for your reply. Although you answer actually solve my question (I read the posts you refered me to) what I actually need to do is a bit diferente and I thought it would be similar to what I asked (trying to simplify the question) but after I read your posts it turned out that it actually does not solve it (sorry!). Actually, what I need is related to ADX indicator. So for instance, I have a initial stop of, lets say, 150 points and an ADX level of 20. I would hold my positivo until ADX leve goes upto level of 40. There is were I need to move up the stop and start making a trailing stop of 20 points. Is it possible to code this? Can I link an stoploss + trailing to ADX? I would appreciate your answer!! Regards,

10/30/2018 at 3:50 PM #83804 quote
Nicolas
Keymaster

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Of course you can link the trailing stop activation to any other condition. Make a simple test with ADX to allow or not the trailing stop to operate:
```
if adx[14]>20 then 
 allowtrailing = 1
else
 allowtrailing = 0
endif 

if allowtrailing then 
 //put trailing stop function here 
endif
```
10/30/2018 at 7:39 PM #83814 quote

CA
Participant

New

Thank you Nicolas!! It worked!!!
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