Code conditions to close a long position

March 20th, 2014, 05:10 PM

Hello everybody

I m wondering how to code "exitlong" or "exitshort" conditions.
Below, you can see my extrait of my code (which doesn't work...)

Code

// exitlong conditions

If (Marketposition = 1) then begin
Sell currentbar at entryprice+5 ;
end;
setstoploss (-5);

As soon as a long (buy) position is open (order n�1), I would send two another orders :
order n�2 => it would be placed to "myentryprice + 5 ticks" (with limit order and on the current bar)
and
order n�3 => it would be placed to "myentryprice - 5 ticks" (with market order, a kind of stoploss...)
and "if current price = myentryprice + 2 ticks" then the order n�3 is going up to this level.

Anybody have an idea please?

ABCTG · March 20th, 2014, 05:53 PM

ruliann,

there are some things that catch my eye: the limit exit order should be "next bar" and tick based exits should be converted to points. To exit a trade with the build in setstop loss the input should be positive and is dollar based.
So your code can look something like this:

Code

Inputs: PositionBasis( false ), StopTicks( 5 ) ;

Variables:
	vStopPoints	(0),
	StopAmount	(0),
	vOneTick	(0);
	
once
begin
	vOneTick = MinMove/PriceScale;
	vStopPoints = StopTicks * vOneTick;
	
	StopAmount = vStopPoints * BigPointValue;	
end;

//limit exit
If (Marketposition = 1) then 
	Sell ("LX") next bar entryprice + vStopPoints limit;

//stop loss part
if PositionBasis then
	SetStopPosition
else
	SetStopShare ;

SetStopLoss( StopAmount ) ;

Regards,
ABCTG

March 21st, 2014, 02:30 AM

Hi ABCTG

Interesting your proposition, I m going to try it

I will keep you updated !

tks

Code conditions to close a long position

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Code conditions to close a long position