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I have a little problem with the Trailing Stop Strategy in TS. I already tried to play with the option/values and checked other possibilities, but so far I couldnt find a solution. Iam trying to increase the Trailing Stop, because right now it closes my positions with only a small profit (see Screenshot). Its to close to the current price and I would like to have it like 25+ Pips away.
Does anyone have an idea or suggestion? Maybe another SL/TP from the Strategies provided by TS works better/more efficient?
Can you help answer these questions from other members on NexusFi?
You can post your code if you like. I'd avoid % Trailing stops, especially if you are backtesting. They are inaccurate unless you use 1 tick LIBB, which limits you to 6 months backtest.
I tried some larger values for the TrailingPct, but it has no significant impact on the results. A simple TP doesnt have the effect I want, do you have maybe another idea for a trailing stop set up?
Yes, Iam using it for backtesting with a 60min Chart and the trades have an average holding period of 1.5 days.
//trailing stop
If marketposition=1 and openpositionprofit<maxpositionprofit-InputVar4 then sell next bar at market;
If marketposition=-1 and openpositionprofit<maxpositionprofit-InputVar4 then buytocover next bar at market;
end;
where InputVar4 is the dollar amount you want to trail. Note this is not a stop order, but rather a market order that gets placed at next bar open.
The way I've written it, the openpositionprofit is evaluated at end of every bar.
You could convert to a stop order if you wanted to.
So let's say you had InputVar4=1000
If maxpositionprofit never goes above 0, then when openpositionprofit drops below -1000, you will get exit signal
If maxpositionprofit hits 2500 then when openpositionprofit drops below 1500, you will get exit signal