I'm trying to code a simple exit strategy that I can apply to my discressionary trades.

Let's call the bar prior to my entry the signal bar. I'm entering at the High of the signal bar, and I'd like the strategy to place a stop loss order at the low of the signal bar. The target is a function of the high of the signal bar - low of the signal bar times a multiplier.
My problem is that the High and Low of the signal bar keep being recalculated every bar. It's frustrating to watch the orders on the chart keep changing with every bar that passes. Lol.
How can I store these variables in my code so they persist at the original values?

Any help or direction would be great.

Thanks,

Jeff

Do you have any code to show? Might be easier if we can see what you're doing.

But, if it was me...

I would have two variables declared: EntTrgt(0) and ExtTrgt(0)

At the completion of the SIGNAL bar, I would set the value of both of those variables as follows:

If Barstatus = 2 then begin
EntTrgt = H;
ExtTrgt = L;
end;

Also, you are most likely missing some sort of switch that turns on or off so that this test only happens when the SIGNAL bar actually becomes the SIGNAL bar. For example, lets say, if x, y and z then SetTargets = True;

Therefore, going back to the previous suggestion:

If Barstatus = 2 and SetTargets then begin
EntTrgt = H;
ExtTrgt = L;
SetTargets = False;
end;

Of course, then you will need to write out your entry code, but hopefully this helps some.

Thanks for the insights so far. Here is a simple long only script I whipped up that demonstrates the problem....

[IntrabarOrderGeneration = True];

//Long Only

Inputs:
RewardMultiplier( 2 );

Vars:
EMA( 0 ),
ClickStop( 0 ),
ClickTarget( 0 );

EMA = XAverage( C, 21 );

If O < C and L > EMA Then Begin
Buy 1 Contract Next bar at Market;
End;

If Marketposition > 0 Then Begin
ClickStop = (High[ 1 ] - Low[ 1 ]) * 4 ;
ClickTarget = ClickStop * RewardMultiplier;
setstoploss_pt(ClickStop);
setprofittarget_pt(ClickTarget);
end;

It doesn't seem to matter where I put the "ClickStop" Calculation, it keeps happening every bar. I'd like it to store the low of the "signal bar" and leave the top and target orders where they start.

Speculationist 

Thanks for the insights so far. Here is a simple long only script I whipped up that demonstrates the problem.... [IntrabarOrderGeneration = True]; //Long Only Inputs: RewardMultiplier( 2 ); Vars: EMA( 0 ), ClickStop( 0 ), ClickTarget( 0 ); EMA = XAverage( C, 21 ); If O < C and L > EMA Then Begin Buy 1 Contract Next bar at Market; End; If Marketposition > 0 Then Begin ClickStop = (High[ 1 ] - Low[ 1 ]) * 4 ; ClickTarget = ClickStop * RewardMultiplier; setstoploss_pt(ClickStop); setprofittarget_pt(ClickTarget); end; It doesn't seem to matter where I put the "ClickStop" Calculation, it keeps happening every bar. I'd like it to store the low of the "signal bar" and leave the top and target orders where they start.

So if you are trying to set targets based on the candle that met your criteria (If O < C and L > EMA), then I would do what I suggested earlier and save the values of the Hi and Lo to declared variables that get defined once and stays that way until you need to redefine it at a later time. In this case, you are saying if you are long, then set the stop and targets off the last bar... BUT if that doesn't happen then you do it again the next bar and so on. That's why it's recalculating.

Hope that helps

The Sim mode on my Multicharts has decided to not load data at the moment, however when I print the values of "stoploss" and "target" they seam to be holding the same value as new bars prints.
Am I correct in thinking that this code should be doing the trick?

[IntrabarOrderGeneration = True];

//Long Only

Inputs:
RewardMultiplier( 2 );

Vars:
EMA( 0 ),
ClickStop( 0 ),
ClickTarget( 0 ),
Stoploss( 0 ),
Target( 0 );

EMA = XAverage( C, 21 );
ClickStop = (High[ 1 ] - Low [ 1 ]) * 4 ;
ClickTarget = ClickStop * RewardMultiplier;

If Barstatus=2 and O < C and L > EMA Then Begin
Buy 1 Contract Next bar at Market;
StopLoss = ClickStop;
Target = ClickTarget;
End;

If Marketposition > 0 Then Begin
setstoploss_pt(StopLoss);
setprofittarget_pt(Target);
end;

//Print( Stoploss );
//Print( Target );

Speculationist,

the way you wrote your code you allow the values to get updated whenever the expression "Barstatus=2 and O < C and L > EMA" is fulfilled i.e. they can change while you are in a position. If you want to prevent the values from changing while you are in a long trade you might want to update the values only while you are not yet long.

Regards,

ABCTG

Speculationist 

The Sim mode on my Multicharts has decided to not load data at the moment, however when I print the values of "stoploss" and "target" they seam to be holding the same value as new bars prints. Am I correct in thinking that this code should be doing the trick? [IntrabarOrderGeneration = True]; //Long Only Inputs: RewardMultiplier( 2 ); Vars: EMA( 0 ), ClickStop( 0 ), ClickTarget( 0 ), Stoploss( 0 ), Target( 0 ); EMA = XAverage( C, 21 ); ClickStop = (High[ 1 ] - Low [ 1 ]) * 4 ; ClickTarget = ClickStop * RewardMultiplier; If Barstatus=2 and O < C and L > EMA Then Begin Buy 1 Contract Next bar at Market; StopLoss = ClickStop; Target = ClickTarget; End; If Marketposition > 0 Then Begin setstoploss_pt(StopLoss); setprofittarget_pt(Target); end; //Print( Stoploss ); //Print( Target );

Thanks for the observation, I see what you mean. Should I move the calculations to calculate after a position has been opened?
So include them after Marketposition > 0 ? How else could I do this?

Speculationist,

that would be the opposite of what I wrote in my reply and likely still update the values with every while you are in a position. Allowing the variables to update while you are not yet long will prevent them from changing while you are long and in turn should accomplish what you have in mind.

Regards,

ABCTG

Speculationist 

Thanks for the observation, I see what you mean. Should I move the calculations to calculate after a position has been opened? So include them after Marketposition > 0 ? How else could I do this?

If (O < C and L > EMA and Position = 0) Then Begin
Buy 1 Contract Next bar at Market;
ClickStop = (High - Low) * 4 ;
ClickTarget = ClickStop * RewardMultiplier;
setstoploss_pt(ClickStop);
setprofittarget_pt(ClickTarget);
End;