Trailing Stop, StopLoss, Profit Target Combo (without risk of daytrading)

[ErikHR]

I have a strategy that uses daily bars and I want to add Trailing Stop, StopLoss, and Profit Targets, but I do not want one of them to get hit on the same day the order is placed. Is there any reasons why something like this would not work?

 
 
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]int[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] useStopLossOrTrailingStop;[/SIZE]
[SIZE=2][SIZE=2][[/SIZE][SIZE=2][COLOR=#2b91af][SIZE=2][COLOR=#2b91af]Category[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2]([/SIZE][SIZE=2][COLOR=#a31515][SIZE=2][COLOR=#a31515]"Parameters"[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2])][/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]public[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]int[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] Exit_SlOrTs_OnOff {[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]get[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] { [/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]return[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] useStopLossOrTrailingStop; }[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]set[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] { useStopLossOrTrailingStop = [/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]value[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2]; }[/SIZE]
[SIZE=2]}[/SIZE]
[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]protected[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]override[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]void[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] OnBarUpdate() {[/SIZE]
 
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]if[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] (dayTrade == 0 && Position.MarketPosition != [/SIZE][SIZE=2][COLOR=#2b91af][SIZE=2][COLOR=#2b91af]MarketPosition[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].Flat && BarsSinceEntry(0, [/SIZE][SIZE=2][COLOR=#a31515][SIZE=2][COLOR=#a31515]""[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2], 0) == 1) {[/SIZE]
 
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]if[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] ([/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]this[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].useProfitTarget == 1) [/SIZE]
[SIZE=2]SetProfitTarget([/SIZE][SIZE=2][COLOR=#2b91af][SIZE=2][COLOR=#2b91af]CalculationMode[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].Price, Position.AvgPrice *([/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]this[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].profitTarget / 100));[/SIZE]
 
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]switch[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] (useStopLossOrTrailingStop) {[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]   case[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] 1: [/SIZE]
[SIZE=2]   SetTrailStop([/SIZE][SIZE=2][COLOR=#a31515][SIZE=2][COLOR=#a31515]""[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2], [/SIZE][SIZE=2][COLOR=#2b91af][SIZE=2][COLOR=#2b91af]CalculationMode[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].Price, Position.AvgPrice *([/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]this[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].stopLoss / 100), [/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]true[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2]); [/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]   break[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2];[/SIZE]
 
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]   case[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] 2: [/SIZE]
[SIZE=2]   SetStopLoss([/SIZE][SIZE=2][COLOR=#a31515][SIZE=2][COLOR=#a31515]""[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2], [/SIZE][SIZE=2][COLOR=#2b91af][SIZE=2][COLOR=#2b91af]CalculationMode[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].Price, Position.AvgPrice * ([/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]this[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].stopLoss / 100), [/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]true[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2]); [/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]   break[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2];[/SIZE]
 
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]default[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2]: [/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]break[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2];[/SIZE]
[SIZE=2]}[/SIZE]
[SIZE=2]}[/SIZE]
 
[SIZE=2]TryEnter();[/SIZE]
 
[SIZE=2]}[/SIZE]
 
private void TryEnter() {
 
...
 
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]if[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] (dayTrade == 0) {[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]if[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] ([/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]this[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].useProfitTarget == 1) [/SIZE]
[SIZE=2]  SetProfitTarget([/SIZE][SIZE=2][COLOR=#2b91af][SIZE=2][COLOR=#2b91af]CalculationMode[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].Price, Price * 5);[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]switch[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] (useStopLossOrTrailingStop) {[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]  case[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] 1: SetTrailStop([/SIZE][SIZE=2][COLOR=#a31515][SIZE=2][COLOR=#a31515]""[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2], [/SIZE][SIZE=2][COLOR=#2b91af][SIZE=2][COLOR=#2b91af]CalculationMode[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].Price, 0, [/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]true[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2]); [/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]  break[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2];[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]  case[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2] 2: SetStopLoss([/SIZE][SIZE=2][COLOR=#a31515][SIZE=2][COLOR=#a31515]""[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2], [/SIZE][SIZE=2][COLOR=#2b91af][SIZE=2][COLOR=#2b91af]CalculationMode[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2].Price, 0, [/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]true[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2]); [/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]  break[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2];[/SIZE]
[SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]  default[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2]: [/SIZE][SIZE=2][COLOR=#0000ff][SIZE=2][COLOR=#0000ff]break[/COLOR][/SIZE][/COLOR][/SIZE][SIZE=2];[/SIZE]
[SIZE=2]}[/SIZE]
[SIZE=2]}[/SIZE]
 
 
...
//Place order
 
}

Thanks,
Erik

[ErikHR]

Please ignore this post I already figured out it is not going to work that well and I am rewriting the code.

Thanks,
Erik