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I don't know to put a stop loss in this case
marius24
 Post subject: I don't know to put a stop loss in this case Post rating: 0   New post Posted: Wed 14 Oct, 2015, 21:02 
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Here's the idea
Every time when a hammer appears (i enter a long position)....... i want to set the stop loss in this way:
1. to measure the length of the hammer from "candle close" to "candle low"
2.then to subtract the length of candle from the "candle low" in order to set the stop loss
I attached this photo for a better understanding of what i want to achieve
I attached also a vfs file containing the coding for a "hammer" pattern

I am waiting for an answer


Image


Attachments:
hammerstoploss.vfs [35.64 KiB]
Downloaded 135 times
hammer stop loss.jpg [198.39 KiB]
Downloaded 357 times
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amine_chourou
 Post subject: Re: I don't know to put a stop loss in this case Post rating: 0   New post Posted: Thu 15 Oct, 2015, 13:00 
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Hi,

Quote:
1. to measure the length of the hammer from "candle close" to "candle low"


This should be easily made using a calculation block : point on the specific candle and calculate High - Low


Quote:
2.then to subtract the length of candle from the "candle low" in order to set the stop loss

Same as 1 with Candle low - length in pips = SL price

Then insert a "Set stop loss" and set it as price based. Make sure the block is plugged once the position is filled.

What are the difficulties faced in doing this ?

Cheers
 
marius24
 Post subject: Re: I don't know to put a stop loss in this case Post rating: 0   New post Posted: Thu 15 Oct, 2015, 14:28 
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I tried and it's still not working. Certainly either i missed something or i put some variables wrongly.
Here's the vfs file.
I am waiting for your answer


Attachments:
hammerstoploss.vfs [44.1 KiB]
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amine_chourou
 Post subject: Re: I don't know to put a stop loss in this case Post rating: 0   New post Posted: Thu 15 Oct, 2015, 15:16 
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Image


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SLBlock.JPG [84.18 KiB]
Downloaded 414 times
DISCLAIMER: Dukascopy Bank SA's waiver of responsability - Documents, data or information available on this webpage may be posted by third parties without Dukascopy Bank SA being obliged to make any control on their content. Anyone accessing this webpage and downloading or otherwise making use of any document, data or information found on this webpage shall do it on his/her own risks without any recourse against Dukascopy Bank SA in relation thereto or for any consequences arising to him/her or any third party from the use and/or reliance on any document, data or information found on this webpage.
 
marius24
 Post subject: Re: I don't know to put a stop loss in this case Post rating: 0   New post Posted: Thu 15 Oct, 2015, 15:28 
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Yapp... it's working. Thanks. I was just a step away from this. :D
 
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