Trailing stop after price reaches target
Author: tradermike4
Creation Date: 8/24/2009 11:22 AM
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tradermike4

#1

8/24/2009 11:22 AM

Here's a little snippet from a script I recently built. When the current close is the highest in the past 5 bars, a sell is indicated.



if (Close[bar] == Highest.Value(bar, Close, 5))
{
SellAtMarket(bar + 1, p, "Group1");
}


Is there some way to use a variable to record the fact that the price has reached the target price, and then trail the price upward with a stop order for each successive bar until the stop is triggered?

Thanks.

Mike
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Eugene

#2

8/24/2009 11:44 AM

Hi Mike,

QUOTE:
Is there some way to use a variable to record the fact that the price has reached the target price,

Yes. Save it in a boolean variable and check it before executing your stop. When the Position is unloaded, reset the boolean variable to false:

CODE:
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tradermike4

#3

8/30/2009 1:27 PM

Thanks, Eugene. That worked perfectly.
Mike
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