Trying to set trailing stop to be two ticks below the low>> HELP!

July 17th, 2016, 11:23 AM

hi Kevin

So to reignite this thread -- With % trailing, we know the trailing stops are executed intrabar. My question is - Is there a way to only execute % trailing at the end of the bar, and NOT intrabar?

(even with [Intrabarordergeneration = False] it'll still trigger the order)

thanks in advance for any info!
-Brandon

kevinkdog · July 17th, 2016, 03:33 PM

djvie11

hi Kevin

So to reignite this thread -- With % trailing, we know the trailing stops are executed intrabar. My question is - Is there a way to only execute % trailing at the end of the bar, and NOT intrabar?

(even with [Intrabarordergeneration = False] it'll still trigger the order)

thanks in advance for any info!
-Brandon

If you wrote code that calculated the price you wanted, you could.

Say you were long, and you calculate a price of XXXX to exit. Then it is simply:

if close<XXXX sell this bar at close;

This won't work on last bar of day though.

You could also do something like:

sell next bar at XXXX stop;

where XXXX is calculated based on a percent trailing or whatever you want.

July 17th, 2016, 06:01 PM

kevinkdog

If you wrote code that calculated the price you wanted, you could.

Say you were long, and you calculate a price of XXXX to exit. Then it is simply:

if close<XXXX sell this bar at close;

This won't work on last bar of day though.

You could also do something like:

sell next bar at XXXX stop;

where XXXX is calculated based on a percent trailing or whatever you want.

Thank you for the response, Kevin!

I'm now trying to make it a condition, but when I try to compile it it's saying "expression expected here." Obviously I'm coding this wrong.

Code

Condition1 = C[1] of data2 < SetPercentTrailing( FloorAmt, TrailingPct ) ;

kevinkdog · July 17th, 2016, 06:45 PM

djvie11

Thank you for the response, Kevin!

I'm now trying to make it a condition, but when I try to compile it it's saying "expression expected here." Obviously I'm coding this wrong.

Code

Condition1 = C[1] of data2 < SetPercentTrailing( FloorAmt, TrailingPct ) ;

You've got to create your own trailing stop expression. MaxpositionProfit and OpenPositionProfit could be useful.

Maybe if MaxpositionProfit-OpenPositionProfit>1000 //means when your current profit is $1000 less than the maximum profit the position hit at one time...

July 17th, 2016, 10:19 PM

kevinkdog

You've got to create your own trailing stop expression. MaxpositionProfit and OpenPositionProfit could be useful.

Maybe if MaxpositionProfit-OpenPositionProfit>1000 //means when your current profit is $1000 less than the maximum profit the position hit at one time...

Great idea, Kevin.

I came up with this, but I'm having trouble figuring out the command to cover the position at the end. I used SetStopPosition but that's not correct.

Code

Inputs:
PctTrail (.25),
DollarAmt (20);

Condition1 = MaxpositionProfit > DollarAmt ;
Condition2 = MaxpositionProfit < MaxpositionProfit - (MaxPositionProfit * PctTrail);

IF Condition1 AND Condition2
THEN 
SetStopPosition  ;

kevinkdog · July 17th, 2016, 10:26 PM

djvie11

Great idea, Kevin.

I came up with this, but I'm having trouble figuring out the command to cover the position at the end. I used SetStopPosition but that's not correct.

Code

Inputs:
PctTrail (.25),
DollarAmt (20);

Condition1 = MaxpositionProfit > DollarAmt ;
Condition2 = MaxpositionProfit < MaxpositionProfit - (MaxPositionProfit * PctTrail);

IF Condition1 AND Condition2
THEN 
SetStopPosition  ;

If you want to exit right when this is evaluated as true, then

sell this bat at close;

would work (except for last bar of day)

or

sell next bar at market;

July 17th, 2016, 10:30 PM

kevinkdog

If you want to exit right when this is evaluated as true, then

sell this bat at close;

would work (except for last bar of day)

or

sell next bar at market;

Understood.

Is there a command though that would exit both LONG (sell this bar at close) and SHORT (buy to cover at close) positions?

kevinkdog · July 17th, 2016, 11:04 PM

djvie11

Understood.

Is there a command though that would exit both LONG (sell this bar at close) and SHORT (buy to cover at close) positions?

setexitonclose;

but remember it will not work with real money on last bar of day. It works in backtest though.

July 18th, 2016, 12:52 AM

kevinkdog

setexitonclose;

but remember it will not work with real money on last bar of day. It works in backtest though.

your knowledge is much appreciated, Kevin!

happy trading.

July 18th, 2016, 10:52 AM

kevinkdog

setexitonclose;

but remember it will not work with real money on last bar of day. It works in backtest though.

And for what it's worth - that last bit of code I posted didn't work (It didn't understand the variables). This new code below works.

Code

Inputs:
PctTrail (.25),
DollarAmt (20);

IF
(OpenPositionProfit + DollarAmt) < MaxPositionProfit - (MaxPositionProfit * PctTrail) 
THEN 
SetExitOnClose  ;

Trying to set trailing stop to be two ticks below the low>> HELP!

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Trying to set trailing stop to be two ticks below the low>> HELP!