Fixed/trailing stops and limits

[TeamForex]

Hi

Could someone from E-Signal support please direct me to simple code examples or actual coding for fixed and trailing stops and limit orders for forex intra-day back testing.

As I am not a trained programmer, something to cut and paste into the EFS editor would be great

Regards

James

[Doji3333]

Read the following...

Go to the EFS help page and read..

The Guide To Developing Strategies.

This guide shows examples of stops and trailing stops.

Brad

[TeamForex]

Code

Many thanks Brad

I did see that code before. I have tried to use it and modify it to suit my algorithms, but without luck, considering my limited programming.

There appear to be some syntax errors in the code as well.

Actually what I REALLY would appreciate is if someone could send me (via email) a simple code for, for example, a 2 moving average cross over system, complete with stops and limits. Trailing stops even better.

I am not using an MA cross system, but can put my system code in easily enough, given a basic (working/debugged) framework to work with.

Any help would be greatly appreciated from anyone who may be able to assist!

James
Team Forex
email: [email protected]

[Doji3333]

Stops...

OK.

I have posted many examples of developing trailing stops for a system. If you give me some more details or what you are trying to accomplish, I will try to assist you?

[Doji3333]

Here is the basic structure for a stop system

Follow this example for a basic stop system...

var nStopPrice;
var nLastRawTime  = 0;
var BLBarOffset = 0;

function main() {

//  Bar Counter function.
   if (getValue("rawtime", 0) != nLastRawTime) {
     nLastRawTime = getValue("rawtime",0);
     BLBarOffset += 1;
   }

// Handle Stops.
  if (Strategy.isInTrade()) {
        drawShapeRelative(0, nStopPrice, Shape.DIAMOND, null, Color.blue, Shape.ONTOP, BLBarOffset+"lFSX");
    if (Strategy.isLong()) {
      if (low() <= nStopPrice) {  //  Long Stop Hit
        if (high() < nStopPrice) {
          Strategy.doSell("LongStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, open());
        } else {
          Strategy.doSell("LongStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, nStopPrice);
        }
      }
    }
    if (Strategy.isShort()) {
      if (high() >= nStopPrice) {  //  Short Stop Hit
        if (low() > nStopPrice) {
          Strategy.doCover("ShortStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, open());
        } else {
          Strategy.doCover("ShortStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, nStopPrice);
        }
      }
    }
  }

//  Handle Entries.
  if ((!Strategy.isInTrade()) || (Strategy.isShort())) {
   //  Condition for Long Entries
   nStopPrice = n;
  }
  if ((!Strategy.isInTrade()) || (Strategy.isLong())) {
   //  Condition for Short Entries
   nStopPrice = n;
  }

}  // end of main 

This is a basic example of a stop system at work in a system. It tests for every possibly condition of the stop order being generated.

The value nStopPrice is a variable that you set with your entries. You can set it to a fixed value (EntryPrice +/- value) or continue to set it to different values if necessary.

To make it a trailing stop, you would simply make the following code adjustments...
1. Track your entry price
2. Track the stop price compared to the current price (say a high or low).
3. Add a comparison routine to adjust the nStopPrice value.

Here is an example of the coade above modified to handle a trailing stop.

var StopLevel = 1.5; //  Default stop level.

var nEntryPrice;
var nStopPrice;
var nLastRawTime  = 0;
var BLBarOffset = 0;

function main() {

//  Bar Counter function.
   if (getValue("rawtime", 0) != nLastRawTime) {
     nLastRawTime = getValue("rawtime",0);
     BLBarOffset += 1;
   }

// Handle Stops.
  if (Strategy.isInTrade()) {
   //  Draw Current Stop Level on Chart.
        drawShapeRelative(0, nStopPrice, Shape.DIAMOND, null, Color.blue, Shape.ONTOP, BLBarOffset+"lFSX");

   //-------------------------------------------------
   //  Test for stop exits
    if (Strategy.isLong()) {
      if (low() <= nStopPrice) {  //  Long Stop Hit
        if (high() < nStopPrice) {
          Strategy.doSell("LongStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, open());
        } else {
          Strategy.doSell("LongStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, nStopPrice);
        }
      }
    }
    if (Strategy.isShort()) {
      if (high() >= nStopPrice) {  //  Short Stop Hit
        if (low() > nStopPrice) {
          Strategy.doCover("ShortStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, open());
        } else {
          Strategy.doCover("ShortStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, nStopPrice);
        }
      }
    }
   //  End of test for stop exits
   //--------------------------------------------------------
   //  Text for new trailing stop....
   if (Strategy.isLong()) {
     if ((high()-StopLevel) > nStopPrice) {
      nStopPrice = (high()-StopLevel);
     }
   }
   if (Strategy.isShort()) {
     if ((low()+StopLevel) < nStopPrice) {
      nStopPrice = (low()+StopLevel);
     }
   }

  }  //  end if Strategy.isInTrade()


//  Handle Entries.
  if ((!Strategy.isInTrade()) || (Strategy.isShort())) {
   //  Condition for Long Entries
   nEntryPrice = close();  //  assuming our entry is the current price.
   nStopPrice = nEntryPrice-StopLevel;
  }
  if ((!Strategy.isInTrade()) || (Strategy.isLong())) {
   //  Condition for Short Entries
   nEntryPrice = close();  //  assuming our entry is the current price.
   nStopPrice = nEntryPrice+StopLevel;
  }

} // end of main 

That is the basics of the system. You can use this code to develop your own system. Let me know if you have any other questions.

[TeamForex]

Stops and Limits

Hi

Many thanks for your VERY helpful reply. I know I'm being a pain, but 2 more questions in relation to this:

1. Where does the actual entry system code get placed within the code you have posted? I will generate this myself, but perhaps you could include a simple example in your code (eg a cross over system)

2. Does the code you gave also deal with the limits (profit taking)

Thanks again in advance

James

[TeamForex]

To make it easier...

I can tell this is going to waste your time and mine unless I become a little more clear.

What I want to do is the following:

1. Enter long when close is above 100 SMA and 14 period RSI below 30
2. Enter short when close is below 100 SMA and 14 period RSI above 70
3. Use 25 pip stop and 50 pip profit target
4. If stop or limit not hit, and a new direction is given, then reverse trade direction.

I would like to apply this to the charts with some alert indicator such as a colour or an arrow, and also be able to back test.

I know this is a big ask, and the basics are all easily found on this forum, but I just can't put it all together. If at all possible, could you knock together the right code for this little trading signal and post it here for me

Thanks again
James

[Doji3333]

Take another look at the code..

TeamForex.....

Take another look at the code I detailed below. It has a section for ENTRY SIGNALS and has the STOP and PT code in place to handle just about anything you want.

If you would like me to "complete this code for you", then I would be consulting for you .. and seeing as though you are a "retail firm" .. I would ask your to consider hiring me to develop the code for you.

If you don't want to consider this option, then you have almost everything you need to get started developing your code from my examples. Try to make it work and see if you can do it yourself - I'm sure you can - it just takes time and patience.

Brad

[TeamForex]

Tried

Hi Brad

Tried...but failed. Whats it going to cost me for you to help out please? (Have pity)

[Doji3333]

Check your email..

James,

Check your email. I have sent you all the instructions to begin your project. I will have it finished within the next 24~48 hours.

Brad

[finger2]

Hello

i search also Forex Tradingsystem Esignal can you me help

[Doji3333]

Finger...

You have a question or are you trying to find a system to trade??

Brad

[finger2]

Hello

yes i search system for forex

[trader123]

Re: Here is the basic structure for a stop system

Hello,
Is there an easy way to integrate your simple stop system to the Moving Average System below. Obliviously I don't know how to write code.

Tried several attempts at trial and error to put them together to no avail.
Thanks for any help with this.

Originally posted by Doji3333
Follow this example for a basic stop system...

var nStopPrice;
var nLastRawTime  = 0;
var BLBarOffset = 0;

function main() {

//  Bar Counter function.
   if (getValue("rawtime", 0) != nLastRawTime) {
     nLastRawTime = getValue("rawtime",0);
     BLBarOffset += 1;
   }

// Handle Stops.
  if (Strategy.isInTrade()) {
        drawShapeRelative(0, nStopPrice, Shape.DIAMOND, null, Color.blue, Shape.ONTOP, BLBarOffset+"lFSX");

    if (Strategy.isLong()) {
      if (low() <= nStopPrice) {  //  Long Stop Hit
        if (high() < nStopPrice) {
          Strategy.doSell("LongStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, open());
        } else {
          Strategy.doSell("LongStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, nStopPrice);
        }
      }
    }
    if (Strategy.isShort()) {
      if (high() >= nStopPrice) {  //  Short Stop Hit
        if (low() > nStopPrice) {
          Strategy.doCover("ShortStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, open());
        } else {
          Strategy.doCover("ShortStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, nStopPrice);
        }
      }
    }
  }

//  Handle Entries.
  if ((!Strategy.isInTrade()) || (Strategy.isShort())) {
   //  Condition for Long Entries
   nStopPrice = n;
  }
  if ((!Strategy.isInTrade()) || (Strategy.isLong())) {
   //  Condition for Short Entries
   nStopPrice = n;
  }

}  // end of main 

This is a basic example of a stop system at work in a system. It tests for every possibly condition of the stop order being generated.

The value nStopPrice is a variable that you set with your entries. You can set it to a fixed value (EntryPrice +/- value) or continue to set it to different values if necessary.

To make it a trailing stop, you would simply make the following code adjustments...
1. Track your entry price
2. Track the stop price compared to the current price (say a high or low).
3. Add a comparison routine to adjust the nStopPrice value.

Here is an example of the coade above modified to handle a trailing stop.

var StopLevel = 1.5; //  Default stop level.

var nEntryPrice;
var nStopPrice;
var nLastRawTime  = 0;
var BLBarOffset = 0;

function main() {

//  Bar Counter function.
   if (getValue("rawtime", 0) != nLastRawTime) {
     nLastRawTime = getValue("rawtime",0);
     BLBarOffset += 1;
   }

// Handle Stops.
  if (Strategy.isInTrade()) {
   //  Draw Current Stop Level on Chart.
        drawShapeRelative(0, nStopPrice, Shape.DIAMOND, null, Color.blue, Shape.ONTOP, BLBarOffset+"lFSX");

   //-------------------------------------------------
   //  Test for stop exits
    if (Strategy.isLong()) {
      if (low() <= nStopPrice) {  //  Long Stop Hit
        if (high() < nStopPrice) {
          Strategy.doSell("LongStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, open());
        } else {
          Strategy.doSell("LongStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, nStopPrice);
        }
      }
    }
    if (Strategy.isShort()) {
      if (high() >= nStopPrice) {  //  Short Stop Hit
        if (low() > nStopPrice) {
          Strategy.doCover("ShortStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, open());
        } else {
          Strategy.doCover("ShortStop", Strategy.LIMIT,
             Strategy.THISBAR, Strategy.DEFAULT, nStopPrice);
        }
      }
    }
   //  End of test for stop exits
   //--------------------------------------------------------
   //  Text for new trailing stop....
   if (Strategy.isLong()) {
     if ((high()-StopLevel) > nStopPrice) {
      nStopPrice = (high()-StopLevel);
     }
   }
   if (Strategy.isShort()) {
     if ((low()+StopLevel) < nStopPrice) {
      nStopPrice = (low()+StopLevel);
     }
   }

  }  //  end if Strategy.isInTrade()


//  Handle Entries.
  if ((!Strategy.isInTrade()) || (Strategy.isShort())) {
   //  Condition for Long Entries
   nEntryPrice = close();  //  assuming our entry is the current price.
   nStopPrice = nEntryPrice-StopLevel;
  }
  if ((!Strategy.isInTrade()) || (Strategy.isLong())) {
   //  Condition for Short Entries
   nEntryPrice = close();  //  assuming our entry is the current price.
   nStopPrice = nEntryPrice+StopLevel;
  }

} // end of main 

That is the basics of the system. You can use this code to develop your own system. Let me know if you have any other questions.

[Doji3333]

I can add it....

But I would suggest you try to deisgn a stop system based on your needs.. Sometimes stop systems include the following components..

1. Initial stop level.
2. Breakeven stop adjustment
3. Breakeven+ stop adjustment
4. Trailing stop levels (normal)
5. Trailing stop levels (exhaustion)

These are some things I might consider adding to your system if I knew what you were looking for...

I'm almost done re-designing my web site. I'll try to take a look at this in the next few days.. I can't tell you how much work is involved in converting a 100+ page web site to a new design - it sucks. It's like re-writing a 100+ page book.

B