Trailing Stoploss from Breakeven

• 07/29/2022 at 9:51 AM #198063
  borsnasan

  Hi,

  Could someone please help me with my request regarding trailing stoploss from breakeven?

  I want to exit half my position when I’ve met my first profit target. I then want to set a trailing stoploss for the rest of my position which begin at breakeven with 5 steps. Could anyone please explain how I can do that?

  My first profit target

  IF c2 and Flag THEN EXITSHORT 1 CONTRACT AT MARKET Flag = 0 SET STOP pTRAILING ENDIF

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  IF c2  and Flag THEN EXITSHORT 1 CONTRACT AT MARKET Flag = 0 SET STOP pTRAILING ENDIF

   

  

  borsnasan

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  07/29/2022 at 10:15 AM #198066
  robertogozzi

  Try this one (I used a modified version ofNicolas’trailing stop snippet), not tested:

  IF Not OnMarket OR (ShortOnMarket AND LongOnMarket[1]) OR (ShortOnMarket[1] AND LongOnMarket) THEN StartTrail = 0 StartPrice = 0 ENDIF IF c2 and Flag THEN EXITSHORT 1 CONTRACT AT MARKET Flag = 0 //set the flags forthe start of the Trailing Stop StartTrail = 1 StartPrice = tradeprice(1) ENDIF // IF StartTrail THEN //trailing stop function trailingstart = 0 //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-StartPrice>=trailingstart*pipsize THEN newSL = StartPrice+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN newSL = newSL+trailingstep*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND StartPrice-close>=trailingstart*pipsize THEN newSL = StartPrice-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN newSL = newSL-trailingstep*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF ENDIF

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  IF Not OnMarket OR (ShortOnMarket AND LongOnMarket[1]) OR (ShortOnMarket[1] AND LongOnMarket) THEN    StartTrail = 0    StartPrice = 0 ENDIF IF c2  and Flag THEN    EXITSHORT 1 CONTRACT AT MARKET    Flag       = 0    //set the flags forthe start of the Trailing Stop    StartTrail = 1    StartPrice = tradeprice(1) ENDIF // IF StartTrail THEN //trailing stop function trailingstart = 0     //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-StartPrice>=trailingstart*pipsize THEN   newSL = StartPrice+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN   newSL = newSL+trailingstep*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND StartPrice-close>=trailingstart*pipsize THEN   newSL = StartPrice-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN   newSL = newSL-trailingstep*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN SELL AT newSL STOP EXITSHORT AT newSL STOP ENDIF ENDIF

   

  

  robertogozzi

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