setting stop

[jvasto]

This is probably the simplest thing to do (or at least it should be) but I can't figure it out. All I want to do is set my stop to 1.5 pts(ES) behing my entry for longs and shorts. Can someone help me with this? I've attached the EFS I'm speaking of.

[Doji3333]

Here you go...

Here you go... The stop setting is on line 17. If you have any questions, please let me know..

//{{EFSWizard_Description
//
//    This formula was generated by the Alert Wizard
//
//}}EFSWizard_Description 7532


//{{EFSWizard_Declarations

var vMACD5_13 = new MACDStudy(5, 13, 6, "Close", false);
var vStoch9_3 = new StochStudy(9, 3, 3);
var vChop14 = new ChopStudy(14);
var vLastAlert = -1;
var nEntryPrice = 0;

//  Set the value below to your stop setting
var nStopLevel = 1.5;

//}}EFSWizard_Declarations 19386


function preMain() {
   /**
    *  This function is called only once, before any of the bars are loaded.
    *  Place any study or EFS configuration commands here.
    */
//{{EFSWizard_PreMain
    setPriceStudy(true);
    setStudyTitle("Rocket");
    setComputeOnClose(true);
//}}EFSWizard_PreMain 6797

}

function main() {
   /**
    *  The main() function is called once per bar on all previous bars, once per
    *  each incoming completed bar, and if you don't have 'setComputeOnClose(true)'
    *  in your preMain(), it is also called on every tick.
    */

//{{EFSWizard_Expressions
    //{{EFSWizard_Expression_1
        if (
            vStoch9_3.getValue(StochStudy.FAST) > vStoch9_3.getValue(StochStudy.SLOW) &&
            vStoch9_3.getValue(StochStudy.FAST) > 20 &&
            vStoch9_3.getValue(StochStudy.SLOW) > 20 &&
            vMACD5_13.getValue(MACDStudy.HIST, -1) < vMACD5_13.getValue(MACDStudy.HIST) &&
            vChop14.getValue(ChopStudy.CHOP) < 62
        ) onAction1()
    //}}EFSWizard_Expression_1 42971
    
    //{{EFSWizard_Expression_2
        else if (
            vStoch9_3.getValue(StochStudy.FAST) < vStoch9_3.getValue(StochStudy.SLOW) &&
            vStoch9_3.getValue(StochStudy.FAST) < 80 &&
            vStoch9_3.getValue(StochStudy.SLOW) < 80 &&
            vMACD5_13.getValue(MACDStudy.HIST, -1) > vMACD5_13.getValue(MACDStudy.HIST) &&
            vChop14.getValue(ChopStudy.CHOP) < 62
        ) onAction2();
    //}}EFSWizard_Expression_2 44243
    
//}}EFSWizard_Expressions 113301

  if (Strategy.isShort()) {
     if (high() >= (nEntryPrice+nStopLevel)) { // stopped out of short position
       if (low() >= (nEntryPrice+nStopLevel)) { // Price gap above stop
        Strategy.doCover("Short Stop", Strategy.LIMIT, Strategy.THISBAR, Strategy.DEFAULT, open());
       } else {
        Strategy.doCover("Short Stop", Strategy.LIMIT, Strategy.THISBAR, Strategy.DEFAULT, (nEntryPrice+nStopLevel));
       }
     }
  }
  if (Strategy.isLong()) {
     if (low() <= (nEntryPrice-nStopLevel)) { // stopped out of short position
       if (high() <= (nEntryPrice-nStopLevel)) { // Price gap above stop
        Strategy.doSell("Long Stop", Strategy.LIMIT, Strategy.THISBAR, Strategy.DEFAULT, open());
       } else {
        Strategy.doSell("Long Stop", Strategy.LIMIT, Strategy.THISBAR, Strategy.DEFAULT, (nEntryPrice-nStopLevel));
       }
     }
  }


//{{EFSWizard_Return
    return null;
//}}EFSWizard_Return 2256

}

function postMain() {
   /**
    *  The postMain() function is called only once, when the EFS is no longer used for
    *  the current symbol (ie, symbol change, chart closing, or application shutdown).
    */
}

//{{EFSWizard_Actions
    //{{EFSWizard_Action_1
    function onAction1() {
        if (vLastAlert != 1) drawShapeRelative(0, low()-.15, Shape.UPARROW, "", Color.RGB(0,255,0), Shape.LEFT);
        if (vLastAlert != 1) Strategy.doLong("long", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);
        nEntryPrice = open(1);
        vLastAlert = 1;
    }
    //}}EFSWizard_Action_1 32527
    
    //{{EFSWizard_Action_2
    function onAction2() {
        if (vLastAlert != 2) drawShapeRelative(0, high()+.15, Shape.DOWNARROW, "", Color.RGB(255,0,0), Shape.LEFT);
        if (vLastAlert != 2) Strategy.doShort("short", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);
        nEntryPrice = open(1);
        vLastAlert = 2;
    }
    //}}EFSWizard_Action_2 32086
    
//}}EFSWizard_Actions 88583 

Brad

[jvasto]

Set stop

Thanks Brad, that's what I was looking for, unfortunately the results are not what I was hoping for. I seem to be getting stopped out even though the price never reaches my stop price. I'm back testing the 3M ES. Is there a trick to back testing the E-minis? Also, if one wanted to set a target in addition to a stop would the proceedure be the same, only reversed?

thanks
Jim