SwingLow StopLoss

[_Merch_Man_]

Morning all! Need some help here. I am building a strategy for use on /ES 1000 tick chart. I want my stop loss to be the swinglow at the time of entry. What I am trying to get is "If I went long on this bar then stoploss = swinglow else stoploss = stoploss[1]" but I can't figure out the if condition. I cant use getquantity() to check if I have a position because getQuantity() doesn't work on tick charts. Any ideas? TIA!

#SWING HIGH LOW CODE
input LookbackPeriod = 3;

def _lowInPeriod1 = Lowest(low, LookbackPeriod);
def marketLow1 = if _lowInPeriod1 < _lowInPeriod1[-LookbackPeriod] then _lowInPeriod1 else _lowInPeriod1[-LookbackPeriod];
def _markedLow1 = low == marketLow1;
rec _lastMarkedLow1 = CompoundValue(1, if IsNaN(_markedLow1) then _lastMarkedLow1[1] else if _markedLow1 then low else _lastMarkedLow1[1], low);
#END SWING HIGH LOW CODE

def swingLow = _lastMarkedLow1 ;

def buyTrigger = close >= close[2] + 1;
def stopLoss = if [WHAT CONDITION GOES HERE?] then swingLow else swingLow[1];

addOrder(OrderType.BUY_TO_OPEN, buyTrigger, open[-1], 1, name = "open");
addOrder(OrderType.SELL_TO_CLOSE, close <= stopLoss, close, 1, name = "close");

 

[generic]

@_Merch_Man_ The condition would be your buytrigger.

 

[_Merch_Man_]

@_Merch_Man_ The condition would be your buytrigger.

Hey @generic! Thanks for taking the time to respond. That doesn't work for this strategy because the strategy is set to only have 1 active trade at a time and a 2nd buytrigger could be hit while there is already an open trade. Any other ideas? Thanks!

 

[generic]

@_Merch_Man_ Would it matter if a second trigger happens? Your stop is still the same isn't it?

 

[_Merch_Man_]

Well I tried it and it doesn't work. I'm not sure why. You'll see in the screenshot of the strategy report that the swinglow used at the close is different to the swinglow at the open. Idea? Thanks for the assist.

#SWING HIGH LOW CODE
input LookbackPeriod = 2;
def _lowInPeriod1 = Lowest(low, LookbackPeriod);
def marketLow1 = if _lowInPeriod1 < _lowInPeriod1[-LookbackPeriod] then _lowInPeriod1 else _lowInPeriod1[-LookbackPeriod];
def _markedLow1 = low == marketLow1;
rec _lastMarkedLow1 = CompoundValue(1, if IsNaN(_markedLow1) then _lastMarkedLow1[1] else if _markedLow1 then low else _lastMarkedLow1[1], low);
#END SWING HIGH LOW CODE

def swingLow = _lastMarkedLow1 ;

def buyTrigger = close >= close[2] +2;
def stopLoss = if buyTrigger then swingLow else swingLow[1];
def sellTrigger = close <= stopLoss;

AddOrder(OrderType.BUY_TO_OPEN, buyTrigger, open[-1], 1, name = "open @ swinglow = " + swingLow);
AddOrder(OrderType.SELL_TO_CLOSE, sellTrigger, close, 1, name = "close @ swinglow = " + swingLow);

 

[generic]

@_Merch_Man_ I'm not sure if there's a way to hold a specific swinglow when not using buytrigger as the condition. Sorry I can't be of much help.

 

[rad14733]

@_Merch_Man_ Check your settings... Increase the number of entry orders in the same direction and see if that helps... Most members don't even realize that these settings exist...

 

[_Merch_Man_]

@rad14733 Thanks for the idea but that didn't work either. The image is with the same stop loss code as above. You can see that even though it opens two orders, both stop out at the active swing low, and not the swing log from the order entry point.

 

[rad14733]

@_Merch_Man_ I'm fairly certain that opening position orders are the only orders that can be incremented over time but exits are triggered for all open positions... Does that answer your question...???

 

[_Merch_Man_]

I managed to solve this using entryPrice. If entryPrice is not NaN then I know I am in a trade and need to use the same stoploss as the last bar. Obviously only works if you are using max of 1 entry order and in 1 direction only.

def stopLoss = if buyTrigger then swingLow else if !IsNaN(EntryPrice()) then stopLoss[1] else 0;