Trailing stop function – what are the STOP orders for?

• 09/28/2021 at 1:51 PM #178651
  sulimaster

  Trailing stop function

  //trailing stop function trailingstart = 10 //trailing will start @trailinstart points profit trailingstep = 5 //trailing step to move the "stoploss" //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart THEN newSL = tradeprice(1)+trailingstep ENDIF //next moves IF newSL>0 AND close>close[1] THEN newSL = newSL+trailingstep ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart THEN newSL = tradeprice(1)-trailingstep //newSL = close + (1 * trailingstep) ENDIF //next moves IF newSL>0 AND close<close[1] THEN newSL = newSL-trailingstep //newSL = close + (1 * trailingstep) ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF

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  //trailing stop function trailingstart = 10 //trailing will start @trailinstart points profit trailingstep = 5 //trailing step to move the "stoploss" //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart THEN newSL = tradeprice(1)+trailingstep ENDIF //next moves IF newSL>0 AND close>close[1] THEN newSL = newSL+trailingstep ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart THEN newSL = tradeprice(1)-trailingstep //newSL = close + (1 * trailingstep) ENDIF //next moves IF newSL>0 AND close<close[1] THEN newSL = newSL-trailingstep //newSL = close + (1 * trailingstep) ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF

  Hi

  In this trailing stop function, what is the purpose of STOP in the last commands SELL AT newSL STOP and EXITSHORT AT newSL STOP? Is it a stop loss command or does it stop the code from continuing to run the commands after STOP if the conditions are met?

  Thanks

  Sachin

  

  sulimaster

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  09/28/2021 at 2:08 PM #178652
  MauroPro

  In this page of the blog  you will find the explanation of the code :

  https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/

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  sulimaster

  

  MauroPro

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  09/28/2021 at 2:10 PM #178653
  Nicolas

  It is a pending STOP order.

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  sulimaster

  

  Nicolas

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  10/01/2021 at 1:08 AM #178831
  sulimaster

  Hi Nicholas

  Thanks for clarifying.

  Does the code in the below page of the blog incorporate a minimum stop distance required by the broker? e.g. a minimum stop distance of 10 points for any instrument?

  https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/

  Thanks

  Sachin

  

  sulimaster

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  10/01/2021 at 1:22 AM #178832
  robertogozzi

  This is Nicolas’ code with the addition of distance and a delayed execution https://www.prorealcode.com/topic/problemi-con-broker-ig-riguardo-lutilizzo-di-algo-con-trailing-stop-e-trailing/#post-175071

  Distance is at line 9.

  Delayed execution is at line 6, just replace 0 with any number to delay execution for N bars from entry.

   

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  sulimaster

  

  robertogozzi

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  04/23/2024 at 1:15 PM #231845
  Aragorna

  Dear Roberto,

  this code for trailing stop works also for Interactive broker?

  kind regards

   

  Alessio

  

  Aragorna

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  04/23/2024 at 2:41 PM #231857
  robertogozzi

  I don’t know, as I don’t use IB.

  If the ProRealTime language is wholly supported, it should, but that’s just speculation.

   

  

  robertogozzi

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