MultiCharts
https://www.multicharts.com/discussion/
https://www.multicharts.com/discussion/viewtopic.php?t=47712
EasyLanguage Essentials Programmers Guidehallo
pleasesay how can I create my own stoploss and trailing stop orders using stop limit orders?
someone could please ,say how to do it?
Creating your own exit orders is no different than writing the entry order -- you have to know your syntax, and you have to have a workable logic.hallo
pleasesay how can I create my own stoploss and trailing stop orders using stop limit orders?
someone could please ,say how to do it?
grazie TJ ..I 'll try to do it!!!!Creating your own exit orders is no different than writing the entry order -- you have to know your syntax, and you have to have a workable logic.hallo
pleasesay how can I create my own stoploss and trailing stop orders using stop limit orders?
someone could please ,say how to do it?
My suggest would be, to start with a flowchart...
A flowchart allows you to visualize your logic in simple step by step decisions.
Code: Select all
[LegacyColorValue = TRUE];
inputs:
ATRLength(2), ATRMult(2.1), UpColor(cyan), DnColor(magenta),TicksAway( 1 ) ;
vars:
ATR(0),
avg(0),
dn(0),
up(0),
trend(1),
flag(0),
flagh(0),
SuperTrend(0),
sellStopPrice(0),
sellLimitPrice(0);
ATR = AvgTrueRange(ATRLength) * ATRMult;
avg = (high + low)/2;
up = avg + ATR;
dn = avg - ATR;
if close > up[1] then
trend = 1
else if close < dn[1] then
trend = -1;
if trend < 0 and trend[1] > 0 then flag=1 else flag=0;
if trend > 0 and trend[1] < 0 then flagh = 1 else flagh = 0;
if trend > 0 and dn < dn[1] then dn=dn[1];
if trend < 0 and up > up[1] then up=up[1];
if flag = 1 then up = avg + ATR;
if flagh = 1 then dn = avg - ATR;
if trend = 1 and trend [1] < 0 then buy 5000 shares next bar C+ 4*minmove/pricescale limit
else
if marketposition=1 and trend [1] >0 then
Sell 5000 shares total next bar c+30*MinMove/pricescale stop c+31* MinMove/pricescale limit;
if trend = -1 and trend [1] >0 then Sellshort next bar C- 4*minmove/pricescale limit;
Hello TJCreating your own exit orders is no different than writing the entry order -- you have to know your syntax, and you have to have a workable logic.hallo
pleasesay how can I create my own stoploss and trailing stop orders using stop limit orders?
someone could please ,say how to do it?
[/img]
Yes...Hello TJCreating your own exit orders is no different than writing the entry order -- you have to know your syntax, and you have to have a workable logic.hallo
pleasesay how can I create my own stoploss and trailing stop orders using stop limit orders?
someone could please ,say how to do it?
[/img]
when you say "Creating your own exit orders is no different than writing the entry order"
this means that in the same way is possible to put =trailing-take profit and breakeven?
thanks matrixRed,
Make sure that you are using a tick by tick back-test while using every "bad" exit feature that Power/Easy Language has to offer haha... I highly recommend NOT using Breakeven stops, small Stoplosses, and any built in Trail Stops. They don't work well even if used properly. Save yourself a headache and listen to this tidbit..
first of allThere's a lot of back and forth with your questions here. Please take your time and formulate your questions clearly. Think of it this way: If your question is easy to read and clearly understood, we will not only answer it, but we will enjoy answering it. If we have to read your questions multiple times and still want to bang our head on the desk because of the confusion (current scenario), we probably won't even reply.
Code: Select all
if trend = 1 and trend [1] < 0 then buy next bar C+ 4*minmove/pricescale limit;
if trend = -1 and trend [1] >0 then Sellshort next bar C- 4*minmove/pricescale limit;
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setstoploss( 500 ) ; //replace the $500 with whatever amount you desire.
thanks MatricksCode: Select all
setstoploss( 500 ) ; //replace the $500 with whatever amount you desire.
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[IntrabarOrderGeneration = True]
INPUTS:
StopLoss( 10 ) ; //Calculated in TICKS
VARIABLES:
MM( MinMove/PriceScale ),
SL( StopLoss*MM ) ;
Sell( "LX" ) all Shares next bar EntryPrice-SL STOP ;
BuyToCover( "SX" ) all Shares next bar EntryPrice+SL STOP ;
ciao Matricks and thank you!!!Can you use a Market order stop? It wouldn't be as safe as a STOP order, but an intrabar MARKET order might be your best bet. Convert my stoploss code in the previous post to MARKET orders and that should do the trick.
Who's your broker? Sorry to be so abrupt, but why on earth are you trading with so little knowledge of the markets? My advice: Don't place a live trade until you've spent 5000 hours staring at charts and coding strategies and even that isn't enough.
my broker doesn t accept : order at market!!!I'm glad that you're experienced. That makes me feel better...
I apologize, but I will not help anyone use an automated stop limit order as a stop loss. I cannot do this. Convert that code I gave you to Market orders and that will work for you.
http://www.tradingcode.net/multicharts- ... mit-order/I'm glad that you're experienced. That makes me feel better...
I apologize, but I will not help anyone use an automated stop limit order as a stop loss. I cannot do this. Convert that code I gave you to Market orders and that will work for you.
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Variables:
myLongCondition(False),
stopPrice(0),
limitPrice(0);
if (myLongCondition = True) then begin
Buy ("STP-LMT LE") 1 contracts next bar at stopPrice stop limitPrice limit;
end;
thanks joshA stop-limit order in PowerLanguage would work like:
There's more official information about that kind of order here.Code: Select all
Variables:
myLongCondition(False),
stopPrice(0),
limitPrice(0);
if (myLongCondition = True) then begin
Buy ("STP-LMT LE") 1 contracts next bar at stopPrice stop limitPrice limit;
end;
More information about the supported order types can be found here: order types. If your broker doesn't support the orders you want to use, there are other brokers to choose from: here's the official broker list and this topic also contains the introducing brokers.
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if trend = 1 and trend [1] < 0 then buy 1000 shares next bar C+ 6*minmove/pricescale limit;
if (myLongCondition = True) then begin
sell ("STP-LMT LE") 1000 shares next bar C- 10*minmove/pricescale stop C- 13*minmove/pricescale limit;
end;
if trend = -1 and trend [1] >0 then Sellshort next bar C- 6*minmove/pricescale limit;