Is there anyone who can help me with a script for stop loss and trail stop. I want to use a hard stop at the beginning of the trade (it’s a simple breakout strategy) and when I have a profit for instance of 6 ticks I want to switch over to trail stop. I know that I must use different signal name but I don’t know how to code it, I am a beginner in programming. This is part of the code I have written.
Regards
Pentti
// EnterLongStop.
EnterLongStop(DefaultQuantity, highestHigh,"Long");
// Calculate stoploss
if (Position.MarketPosition == MarketPosition.Long)
stoploss = highestHigh - lowestLow;
if (stoploss < 8)
stoploss = 4;
SetStopLoss("Stoploss", CalculationMode.Ticks, stoploss, true);
// Cancel stoploss and activate tarilstop
if (Close[0] >= Position.AvgPrice + 4 *TickSize)
SetTrailStop("Trailstop", CalculationMode.Ticks, 4, true);
// Reset trailstop, stoploss
if (Position.MarketPosition == MarketPosition.Flat)
SetTrailStop(CalculationMode.Ticks, trailstop);
SetStopLoss(CalculationMode.Ticks, stoploss);
Comment