tick trailing stop

Questions about MultiCharts and user contributed studies.
JoulVern
Posts: 13
Joined: 23 Sep 2008

tick trailing stop

Postby JoulVern » 05 Oct 2008

i wonder how can i add triling stop to my position
my current code take profit after 8 ticks of es contract

if marketposition > 0 then
sell next bar 0.5*position_size avgentryprice + 8 limit

how would you add a trailing stop in which will start only if the first take profit been hit + keep 4 ticks as a trailing stop ?
so if i buy 2 contracts at 1200.5 and it goes to 1202.5 i sell 1 contract and than there is a stop for 1 contract on 1201.5 and when last goes to 1202.75 the stop goes with it to 1201.75

thanks

User avatar
Marina Pashkova
Posts: 2758
Joined: 27 Jul 2007

Postby Marina Pashkova » 08 Oct 2008

Hi JoulVern,

If we understand correctly what you are trying to do, then you can use a simple sample code below:


Code: Select all

buy("LE") 2 contracts next bar at market;

if ( marketposition = 1 ) then
   sell("LX") from entry("LE") 1 contract next bar at entryprice + 8 points limit;

if currentcontracts = 1 then
begin
   setstopcontract;
   setdollartrailing(4*pointvalue);
end;

setstoploss( 10 * pointvalue );


-------------------------

Let me know if it does the job for you.

Best regards.


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