Trailing Stop with Supertrend

• 05/17/2019 at 9:38 AM #98716
  Pere

  I’m a fan of Supertrend, which I find very useful to do a kind of trailing stop, and I use it most of the cases manually, because if I use it on an automated ProOrder, the order stops always on the next candle where close crosses over or under the value of Supertrend.

  But sometimes, in case of high volatility, the difference between close and Supertrend value is very big and losses are too high.

  How can I program a trailing stop with the Supertrend values where the trade stops immediately if it touches Supertrend (like a normal trailing stop), not on the end of the bar when it closes?

  

  Pere

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  05/17/2019 at 9:52 AM #98717
  robertogozzi

  You need to use MTF to check ST on a lower TF!

  

  robertogozzi

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  05/17/2019 at 10:27 AM #98719
  Pere

  I’m using IG + PRT version 10.3 and don’t have MTF.

  However, I don’t think that this could be a solution, because in a lower TF there is more volatility.

   

  

  Pere

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  05/17/2019 at 11:08 AM #98722
  robertogozzi

  You can use pending orders:

  MyST = SuperTrend[3,45] . . IF LongOnMarket THEN SELL AT MyST STOP ENDIF

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  MyST = SuperTrend[3,45] . . IF LongOnMarket THEN    SELL AT MyST STOP ENDIF

   

   

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  robertogozzi

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  05/17/2019 at 3:22 PM #98757
  Pere

  This is a good idea, @robertogozzi. I Will test it.

  Thank you!

  

  Pere

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  05/27/2020 at 2:11 PM #133446
  Rob Surf

  robertogozzi wrote:

  You can use pending orders:

  MyST = SuperTrend[3,45]<br /><br /> .<br /><br /> .<br /><br /> IF LongOnMarket THEN<br /><br /> SELL AT MyST STOP<br /><br /> ENDIF

  1 2 3 4 5 6

  MyST = SuperTrend[3,45] . . IF LongOnMarket THEN SELL AT MyST STOP ENDIF

  This is exactly what I was looking for!! Thanks soo much!

  Is there anyway to apply this to buying so that it doesn’t wait until the end of the bar? My code opens a position with a new high, but waits until the end of the bar. please see below.

  IF Condtion1 THEN BUY  1 lot AT MARKET ENDIF

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  IF Condtion1 THEN BUY  1 lot AT MARKET ENDIF

   

  

  Rob Surf

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  05/27/2020 at 2:17 PM #133447
  Vonasi

  Pending orders have to be placed on every bar so just place one at the same time as you place your buy order.

  MyST = SuperTrend[3,45] if condition1 then buy 1 lot at market sell at Myst stop endif IF LongOnMarket THEN SELL AT MyST STOP ENDIF

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  MyST = SuperTrend[3,45]   if condition1 then buy 1 lot at market sell at Myst stop endif   IF LongOnMarket THEN    SELL AT MyST STOP ENDIF

  Note: Please always use the Insert PRT Code’ button when putting code in your posts – even if it is only a few lines of code. I have edited your post.

  

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  05/27/2020 at 5:32 PM #133485
  nonetheless

  Hi @Pere, I also use Supertrend a lot but I usually use an ATR trail. As Supertrend is based on ATR + multiplier, the trailing stop tends to be very close to the Supertrend level – depending on the settings for both of course. Could be an option.

  

  nonetheless

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  05/27/2020 at 10:30 PM #133520
  Rob Surf

  The problem with using a trailing stop through ig markets when cumulateorders=true is that it calculates on the average entry price, something IG markets doesn’t allow. Using a pending order applies to the individual positions but still stops them all at the same level and importantly mid way through the price bar and not calculated after the candle is formed, hence managing the risk much better as positions often get stopped out during volatility.

  This is from IG markets

  “After discussions with ProRealTime it has been decided that ProOrder for IG will not calculate on average entry prices but be based on the individual positions entry price. This has been decided to avoid frequent updates to stops and to avoid stops being rejected at less protective levels than before because of the minimum distance being taken into account at the time of update. “

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  Rob Surf

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  05/28/2020 at 9:02 AM #133573
  GraHal

  Rob Surf wrote:

  will not calculate on average entry prices but be based on the individual positions entry price.

  Anybody … is above a recent change or has it been that way for > 1 year??

  

  GraHal

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  05/29/2020 at 4:04 PM #133794
  Rob Surf

  I received this correspondence in 2014. It’s still the case today. At least it shows up on the back testing now. I found out the hard way back in 2014.

  

  Rob Surf

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