MultiCharts: Trading Software for Automated Trading and Backtesting

Hi All,

Just wanted to know if any of you can help me or point me in the direction to find out how to code the following:

I want to take 50% of my profit as soon as my position has gone 20 pips in my favor after my breakeven has been activated.

I am currently using the stops and targets study provided by MC and its working great, I use a stop loss and a break even once my position has reached the determined amount of pips (in my case 20 pips). What I cannot do and hopefully I can get some help or guidance is how to take 50% of my profit once I my breakeven has been activated.

Thank you,

Bryan

I want to take 50% of my profit as soon as my position has gone 20 pips in my favor after my breakeven has been activated.

To clarify before discussing code: if you say, "take 50% of my profit (...)", do you mean:

close half of my position after reaching the +20 pips profit point,
or
at the +20 profit point, close as much as my position as needed to achieve 50% of my profit target?

Hi Josh,

That would be the first one close half of my position after reaching the +20 pip profit point.

Thank you,

Bryan

for currencies if you have bought for 0.2 lot with
buy ("buy") 20000 contracts this bar at market;

You can sell half

Sell ("sell") 10000 contracts this bar at market;

Thank you Erik. I will try that.

That would be the first one close half of my position after reaching the +20 pip profit point.

You can try something like this for that (untested):
Edit: it's probably more convenient to use limit orders instead of the market orders of my above example. In that case (and in the case of the above example), you'll need to figure out some way in which you can determine whether your strategy has already sold half of the position or not. (Otherwise, the strategy keeps submitting orders for half of the position size.)

One example you can build off is:

Thank you very much JoshM!! This woked. Thank you all for helping.

Happy New Year's

Bryan