Non-trailing Stop Loss
Non-trailing Stop Loss
26 Aug 2016, 17:15
I am trying to find a way to create a stop-loss that moves when a trigger is reached, but does not follow the price continually.
I would like to set a normal stop loss that is behind the opening price at the start of my trade as one usually does, but say after 10 pips profit it creates a new stop loss at 5 pips (behind that trigger) - and stays there.
Here is my code for my normal trailing bot.
protected void TrailingStops() { var positions = Positions.FindAll(label); if (positions == null) return; foreach (var position in positions) { if (position.Pips >= TrailingTrigger) { if (position.TradeType == TradeType.Buy) { var newStopLoss = Symbol.Bid - TrailingStop * Symbol.PipSize; if (position.StopLoss < newStopLoss) ModifyPosition(position, newStopLoss, position.TakeProfit); } else if (position.TradeType == TradeType.Sell) { var newStopLoss = Symbol.Ask + TrailingStop * Symbol.PipSize; if (position.StopLoss > newStopLoss) ModifyPosition(position, newStopLoss, position.TakeProfit); } } } }
I'm having trouble getting my head around this as I keep getting a trailing stop or errors.
I thought about setting :
var newStopLoss = Symbol.Bid - TrailingStop * Symbol.PipSize;
to:
var newStopLoss = Stoplevel * Symbol.PipSize;
If any one has any thoughts it would be greatly appreciated.
Replies
armstr.tradie
27 Aug 2016, 05:50
RE:
lucian said:
Try :
var newStopLoss = position.EntryPrice+/-Stoplevel * Symbol.PipSize;
Thanks lucian.
I'l give it ago on Sunday/Monday when the markets open and see how it goes.
@armstr.tradie
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