NexusFi: Find Your Edge


Home Menu

 





How to fix the value of a variable


Discussion in TradeStation

Updated
    1. trending_up 1,423 views
    2. thumb_up 0 thanks given
    3. group 2 followers
    1. forum 1 posts
    2. attach_file 0 attachments




 
Search this Thread

How to fix the value of a variable

  #1 (permalink)
bondstrader
Dubai, UAE
 
Posts: 10 since Sep 2014
Thanks Given: 2
Thanks Received: 1

If i open a long EUR trade in candle X at 1.1100, i want to set a stop at low price of candle X-1, which maybe 1.1075. I want the SL to be fixed at 1.1075, but when I post the SL as follows, it moves the stop value with each subsequent candle, whereas i want it to stay fixed at 1.1075, the price of the first Low[1]. Any ideas?
 
Code
Sell ("Stop-L1") current contracts contracts next bar at Low[1] Stop;

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Futures True Range Report
The Elite Circle
Are there any eval firms that allow you to sink to your …
Traders Hideout
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
 
  #2 (permalink)
 clzppt 
Huntsville, AL
 
Experience: Intermediate
Platform: TradeStation
Broker: Tradestation
Trading: Index Futures
Posts: 10 since Jun 2014
Thanks Given: 1
Thanks Received: 0

I think I can help.

When you create your order entry, define the stop like this:

 
Code
variables: stoploss(0);

//your code

//long entry order:
if marketposition = 0 and condition1 then begin
  buy ("Buy-L1") this bar close;
  stoploss = Lowest(Low, 1);
end;

//long exit order;
if Low < stoploss then sell ("Stop-L1") this bar close;
That should work. The "Lowest" function takes the lowest of whatever value or variable you pass it over the number of bars you tell it. In my example, I told it I wanted the lowest value of the "Low" over the past 1 bar. You also want to make sure that your order entry code, and thus your stoploss definition, doesn't get redefined while you're in a position by using the "marketposition = 0" code so that your order entry criteria and stop loss definition only executes when the order is initially opened.

I've found it useful to create a ShowMe indicator which has identical entry criteria to my strategy and which displays the stop loss value as dots on the price chart. It makes it easier to see if things are behaving as you expect.



bondstrader View Post
If i open a long EUR trade in candle X at 1.1100, i want to set a stop at low price of candle X-1, which maybe 1.1075. I want the SL to be fixed at 1.1075, but when I post the SL as follows, it moves the stop value with each subsequent candle, whereas i want it to stay fixed at 1.1075, the price of the first Low[1]. Any ideas?
 
Code
Sell ("Stop-L1") current contracts contracts next bar at Low[1] Stop;


Reply With Quote




Last Updated on September 6, 2015


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts