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SetProfitTarget only if my condition is true
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SetProfitTarget only if my condition is true

  #1 (permalink)
Elite Member
New York
 
Futures Experience: Intermediate
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SetProfitTarget only if my condition is true

I would like to set my profit target, with a limitorder on the close[0] if the RSI > 75. But my problem is, if my order is filled NT sets my profit target to the recent close when the RSI was at 75. That is not what I want. I want my limitorder only set if I am allready in the position and the RSI > 75. I tried:

if (RSI(3, 1)[0] >= 75)
{
profit = Close [0];
SetProfitTarget("EinstiegLong", CalculationMode.Price, profit);
}

I think I have to reset the variable somehow. But I donīt know exactly how.
Thank you for your help.

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  #2 (permalink)
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  #3 (permalink)
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Futures Experience: Advanced
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Ironman9973 View Post
I would like to set my profit target, with a limitorder on the close[0] if the RSI > 75. But my problem is, if my order is filled NT sets my profit target to the recent close when the RSI was at 75. That is not what I want. I want my limitorder only set if I am allready in the position and the RSI > 75. I tried:

if (RSI(3, 1)[0] >= 75)
{
profit = Close [0];
SetProfitTarget("EinstiegLong", CalculationMode.Price, profit);
}

I think I have to reset the variable somehow. But I donīt know exactly how.
Thank you for your help.

You need to add an additional condition to check if you are already in a position:

Eg:

if (Position.MarketPosition == MarketPosition.Long)

{

if (RSI(3, 1)[0] >= 75)
{
profit = Close [0];
SetProfitTarget("EinstiegLong", CalculationMode.Price, profit);
}


}

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