SetStopLoss [SOLVED]

Eric1704 · Postby **Eric1704** » 09 Dec 2023

I was trying SetStopLoss with a 2 bar low and saw it updated on every bar. Is there a way to keep SetStopLoss in same place after entry? I use it since it places the protective stop immediately after entry.
Thanks.

TJ · Postby TJ » 10 Dec 2023

This is a coding question. You need to post your codes.

Eric1704 · Postby **Eric1704** » 10 Dec 2023

Thanks TJ. I have enclosed the code below. I see on every bar update it recalculates the stop. I do not want that happening once we enter trade and place initial stop. Is there a way in Multi Charts to keep initial protective stop static? I use SetStop and SetTarget as they place stops and targets immediately after a position is opened.
Thanks.

Code: Select all


Inputs: NMM1 (3),        
        PSParam (1.00),  
        RoundPS (true),  
        RoundTo (1),    
        MinSize (1),    
        SizeLimit (100); 


Var:    EntCondL  (false),
        EntCondS  (false);


Var:    NShares  (0);

EntCondL = C > O;
EntCondS = false;

NShares = PSParam;

If RoundPS and RoundTo > 0 then
    NShares = IntPortion(NShares/RoundTo) * RoundTo;

NShares = MaxList(NShares, MinSize);
NShares = MinList(NShares, SizeLimit);





If MarketPosition = 0 and EntCondL then begin
    Buy("EnMark-L") NShares shares next bar at market;
end;

If MarketPosition = 0 and EntCondS and EntCondL = false then begin
    Sell short("EnMark-S") NShares shares next bar at market;
end;


SetStopShare;
SetStopLoss((High - Lowest(L, NMM1)) * BigPointValue);

TJ · Postby TJ » 10 Dec 2023

You have to "freeze" the high and low values for your stop calculation.

eg:

Code: Select all

var:  mm.h(0) , mm.L(0);

If MarketPosition = 0 and EntCondS and EntCondL = false then begin
    Sell short("EnMark-S") NShares shares next bar at market;
    mm.h = h;
    mm.L = Lowest(L, NMM1);
end;

SetStopShare;
SetStopLoss(( mm.h - mm.L )) * BigPointValue);

Eric1704 · Postby **Eric1704** » 11 Dec 2023

Thanks TJ. And I guess same would apply to a calculated profit target?
And no need to reset the var back to 0 as each new entry automatically updates it, correct?
Thanks.

TJ · Postby TJ » 11 Dec 2023

What I have provided is an example . . . you can take it from there and add whatever is needed. It will take a few trial and error to iron out the bugs.

Good trading to you.

SetStopLoss [SOLVED]

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