"How to code moving stop-loss mechanism", is one of the most often repeating questions in private messages I receive, so just to focus on this mechanism, I made a spin-off from my previous script: TradingView-Alerts-to-MT4-MT5-dynamic-variables-NON-REPAINTING.
The logic here moves the stop-loss each time a trade is running and a new pivot high/low is detected. When such event occurs (UpdateLongStopLoss or UpdateShortStopLoss), stoploss_long or stoploss_short mutable variable is modified. And it needs to be coded inside strategy.exit() line as "stop=stoploss_long" or "stop=stoploss_short". Entries are pretty straightforward - on Stoch crosses.
Last lines of the script show how to wrap information about such updates and send send alerts to MetaTrader via TradingConnector for execution in Forex/indices/commodities/crypto markets via MetaTrader. Please note that "tradeid=" variable must be passed with each alert, to let MetaTrader know which trade to modify. SLMOD, TPMOD are recently added commands, along with BE (as in "move stop-loss to breakeven" - but that's another topic).
Please disregard strategy backtest results, as this script is for coding education purposes only. However, it seems with the stop-loss mechanism enabled, the results are even better, than in original version of the script :)
Notas de prensa
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Thanks to the recent update of TradingConnectorEA to version 1.35, some functionalities and syntax of TradingConnector got simplified, and that's why I'm posting this update. To be exact:
If you're using Moving StopLoss mechanism ('slmod' command) and trading only 1 position at a time (no pyramiding), you don't need to use tradeid= parameter anymore. So it was removed from this script. Tradeid= functionality still exists and performs well - used to point which position exactly has to modified or closed - but is unnecessary coding overhead in single-position-trading. Previously it was required.
P.S. There are further new features, like multiple take-profit levels, breakeven exit, delay or separating from TradingConnector-dedicated alerts from all the others - these features will be covered in other publications soon.
Great work mate, this strategy is a gem. Is there a way to setup a stop losses to not exceed certain level, because as it is now loosing trades are way greater than the winning ones eating a profit away. I had tried many things but can’t find a way to do it, I am just starting with pine.
MasBart
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can we use the Stop Loss for breakout ? for example if we are long, to use the short S/L as breakout?
Peter_O
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@MasBart, for sure, but this would be completely different logic
intellisense
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Girdiğin komisyon 0.00003 değil, emir başına binance : %0.04 :)) bu şekilde girince çıkan sonucu yayınla
Peter_O
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@intellisense, For trading Forex with my broker, it is ok.
murat131
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@intellisense, eğitim amaçlı hazırlanmış, stokastik de 13,3,4 değerlerini kullanmış, 13 gün ( 2 hafta) için seçilen değerler yanlış, yine 13 günlük momentle hareket ediyorsan en az 7 gün elinde tutmak zorundasın, o zamanda oraya 80 yukardan aşağıya girilmez, komisyon oranını binde4 yapsanda yapmasanda bisey kazandırmaz. Olaya eğitim için yazılmış olarak bakmak gerekiyor. ( en basta söylemiş zaten )