Trailing stops with previous highs and lows

• 10/01/2018 at 11:41 PM #81720
  chris

  hello

  I’m looking to code a trailing stop based on previous lows for long positions and previous highs for short positions.

  I tested the following code for long positions which used price as the number of bps from the open;

  if longonmarket then SET STOP trailing lowest[5](low) endif

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  if longonmarket then SET STOP trailing lowest[5](low) endif

  I then tried the following, which didn’t seem to work either;

  if longonmarket then SET STOP trailing (close - lowest[a](low)) endif

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  if longonmarket then SET STOP trailing (close - lowest[a](low)) endif

  I’d greatly appreciate any tips or suggestions on how to solve this.

  Best

  Chris

   

   

  

  chris

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  10/02/2018 at 7:51 AM #81736
  Nicolas

  You should avoid using the trailing stop internal function and prefer a coded one with STOP/LIMIT orders. An example in this blog article: Create stoploss with indicator informations in ProOrder

  For a long order, your moving stoploss could be set like this:

  if longonmarket then sell at lowest[5](low) stop endif

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  if longonmarket then sell at lowest[5](low) stop endif

   

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  Nicolas

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