I've been stuck on this problem for awhile and wondering if there is a simple solution.

I am using SetStopLoss to exit a position (say 20 ticks) but only want to re-enter a position if price has gone against the original entry price by at least 40 ticks at some point between my SetStopLoss exit and the next entry.

any suggestions?

jrh059,

we could try to point you in the right direction when you post the code you are stuck with.
One idea would be using a flag that you use to only allow another entry in case the market moved X points higher than your exit price.

Regards,

ABCTG

Maybe a noob question @ABCTG but how do you know what your exit price was?

@SMCJB,

you can access the exit price via the reserved word ExitPrice. This will work fine, unless you scale in and out of positions. In this case you can access the respective prices using the StrategyHost class.

Regards,

ABCTG

The same way the entry price is accessible via the reserved word EntryPrice. @jrh059 you can use this to only allow a new entry when you are flat and if the current price is X ticks above the last entry price.

Regards,

ABCTG

Thank you for your response.

To clear up any confusion, once I am stopped out of a long position, I want price to go LOWER than where I was stopped out before taking another entry.

The code I am currently trying is as follows:

Var:
bool LongFalseStop(False);

If ExitPrice(1)<=EntryPrice(1)-.20 and Lowest(Low,BarsSinceExit(1))<=EntryPrice(1)-.40 then
LongFalseStop=True;

If LongFalseStop=True then Buy

Using the print function, I can tell that this should work but the problem is that I can't figure out how to initiate the first entry without setting the LongFalseStop Variable to TRUE in the beginning, at which point the code doesnt work.

entryprice is zero until you have your first trade

 

Code

Var: bool LongFalseStop(False); if entryprice = 0 then first trade condition else begin If ExitPrice(1)<=EntryPrice(1)-.20 and Lowest(Low,BarsSinceExit(1))<=EntryPrice(1)-.40 then LongFalseStop=True; If LongFalseStop=True then Buy end;

Thank you! That did work. However, now it seems that the LongFalseStop stays True for every bar following the first bar that it is True, making it ineffective because there is never a False condition. Is there a way to make it reset or reevaluate each bar?

Just set it to false on every bar or my preference is to

 

Code

If ( (ExitPrice(1) <= EntryPrice(1) - 0.20) and (Lowest(Low, BarsSinceExit(1)) <= EntryPrice(1) - 0.40) ) then LongFalseStop = True else LongFalseStop = False;