Set Position Exit to Low/High before Entry Bar?

evanevans

evanevans

Active member
Did my DD in scouring the search/google, and couldn't find the answer to this...

How do you set a stop loss to be the low (in the case of long entry) of the bar just prior to entry?
 
Sort by date Sort by votes
rad14733

rad14733

Well-known member
VIP
You would need to use recursion to maintain the low of the candlestick bar that is the same as your EntryPrice()... Then you would add something like "or price <= stopLoss" to your closing conditional clause... There are several trailing stoploss scripts here in the forums that can be adapted to your needs... Using ATR or a fixed amount or percentage is far easier than low prior to entry, but it is possible...
 
Upvote 0 Downvote
evanevans

evanevans

Active member
Appreciate the help. That is disappointing but I will look through other scripts. Might have to settle on a ATR %. Except it needs to be based on the ATR % at the time of entry. Is there a way to know what time an entry is at, and then know what bar is at that time?
 
Upvote 0 Downvote
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
Mr_Wheeler An Indicator that lets you set a budget & the amount of profit that you want to take. It draws a horizontal line at where you want to get out. Custom 2
Mr_Wheeler How do you typically set up your trailing orders? Questions 1
Mr_Wheeler Set up a list of order brackets based on profit amount, don't let your slow calculations keep you out of a fast moving market. Strategies 4
K Problem to set variable range of length for lowest Questions 4
Q Is it possible using Thinkscript to automatically set and run TOS OnDemand start time every hour, eg. 6:30, 7:30, 8:30, ...? Questions 3

Similar threads

Top