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PowerLanguage: stop loss and take profit
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PowerLanguage: stop loss and take profit

  #1 (permalink)
Trading Apprentice
Lugano Switzerland
 
Futures Experience: Advanced
Platform: Interactive Brokers
Favorite Futures: Currency Futures)
 
Posts: 11 since Apr 2016
Thanks: 6 given, 3 received

PowerLanguage: stop loss and take profit

Hello everyone,

I'm new in this forum and I'm also new with PowerLanguage. I never done backtesting via Multicharts, always used Excel.
So, now I'm beginning to code some of my strategies with PowerLanguage but I have huge problems in understanding how to write the stop loss and take profit in the code.

Starting from the basic, if for example I want to buy each Bullish Engulfing (that's not one of my strategy, it's only an example) placing a stop loss at low-2 pips with a super easy 1:1 risk:reward. Risk should be, for example, 1%. what should I write in the code?

PS: I'm not asking about how to code a Bullish Engulfing but only the basics info about stop loss, take profit, risk calculation

Thanks

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  #2 (permalink)
Elite Member
Colorado
 
Futures Experience: Advanced
Platform: MultiCharts
Broker/Data: IB & Iqfeed
Favorite Futures: ES , CL
 
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Posts: 533 since Apr 2010
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Here is the link to the MC forum that can answer all of your questions - dedicated Multicharts user support.

http://www.multicharts.com/discussion/viewforum.php?f=1

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  #3 (permalink)
Trading Apprentice
Lugano Switzerland
 
Futures Experience: Advanced
Platform: Interactive Brokers
Favorite Futures: Currency Futures)
 
Posts: 11 since Apr 2016
Thanks: 6 given, 3 received


I'm still in the free trial version, that forum isnt open for me. I'm going to buy the license 99% in a couple of week

thanks

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