Help building strategy

[sburtt]

What you are describing sounds more like you are manually trailing a Stop. In which case your construct should be:

 SetStopLoss(CalculationMode.Percent, R);

i.e., you need to be moving your hard Stop, not resetting a TrailingStop. If you still prefer the double whammy of a manually trailed, trailing stop, you would still need to use only "R" as your percent value.

Thanks for your reply. Is there a simple way to draw the stop loss on charts? so that I can visually check effectively what happens?

[koganam]

Thanks for your reply. Is there a simple way to draw the stop loss on charts? so that I can visually check effectively what happens?

Not directly, and not in Backtest. Indirectly, you can either draw a line showing your StopLoss of you can open another chart of the same instrument and enable ChartTrader on that copy.

[sburtt]

What you are describing sounds more like you are manually trailing a Stop. In which case your construct should be:

 SetStopLoss(CalculationMode.Percent, R);

i.e., you need to be moving your hard Stop, not resetting a TrailingStop. If you still prefer the double whammy of a manually trailed, trailing stop, you would still need to use only "R" as your percent value.

Koganam, refering to your reply on the stoploss, I don't think this is exaclty what I was trying to achieve. Let me explain in more detail.

There are 2 aspects of the stoploss, time based and trailing stop. All adjustments are made ONLY at the close of the candle.

1) The time based aspect of it. If you are not at least 1R in profit by the close of the 3rd candle after entering the trade you exit win lose or draw. (This aspect is currently coded and works fine).


2) The trailing stop aspect. It is called "protect R" because you "protect the most recent R". Lets say you buy AUDUSD at 1.0500 with a 50 pip stop at 1.0450. Your "R" or risk is 50. Lets say that the first bar it is not in profit but the stop is not hit.

Lets say the second bar it jumps up 90 points intraday to 1.0590, and falls back to 40 points profit at 1.0540. Remember your 1R profit is 1.0550. So can you "protect the most recent R?" you cannot since the close is lower than placing a stop at 1R. Therefore you would exit the position on close.

If however it jumps up 90 points intraday to 1.0590 and falls back to 1.0570 at close. You CAN place a stop at 1.0550 which is still 20 pips away from closing price. In that case you would set the stop at 1R 1.0550 and repeat this process exactly at the close of the next bar (to make it trailing).

Does anyone have an idea on how to automatize 2) ?