Stop Mgmt v 1.1

This script has the following main functions:

a) use of exact levels in stop setting

b) automatically adjust stop loss to the low/high of the previous x periods

c) override standard stop treatment on entry bar


In detail:

a) if you want to enter a long position at 100 with a stop at 95 and due to an opening gap you will effectively enter at 99, then your stop will be at 94 if you use SetSimStop(_StopLoss, _Point, 5, 1);

To avoid that set the parameter "Use exact numbers" to "Yes" and use the statement SetSimStop(_StopLoss, _Point, 95, 1) in your trading system.

b) this is kind of a trailing stop. Set "Stop Adjustment Enabled" to "Yes" and "NbPeriods" to 2 for instance and on each bar ater the entry bar the stop loss will be adjusted to the low of the 2 previous bars. In addition you can set a "Distance" either in percent or points, which will be added to the stop.

E.g. if the 2 bar low is at 95 and you have a distance of 1% then your long stop will be at 95 - 95*0.01 = 94.05

c) per standard the profit stop is triggered on the entry bar if the high is above or equal the entry price (long) as without having intrabar data, it cannot be determined in all cases whether the high happened before or after the entry.


This script provides the following solution: Profit target on the entry-bar is only executed, when

a) the entry happened at Open or

b) target price is reached at close.


In these cases profit stop is independent from intra-bar development.


Analyse Close Reasons: select "Yes" if you want to analyse exit reasons in the trading system report.

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