take profit
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hello friends
I have a problem in setting the profit limit and that is that I want my loss limit to be the lowest price in the last 10 candles and my profit limit to be equal to or twice the loss limit.
I created a variable in the variable called TP value with a value of 0, then using the conditional formula block, I multiplied the lowest price of the last 10 candles by 2 and put the value in the TP value and finally put it as the profit limit in the buy block. I left it, but it doesn't reach my profit limit in the test stage, and it seems like it reaches the profit limit in the purchase price
Thank you for guiding me -
Do you mean multiplying lowest price of the last 10 candles by 2 ?
Say, if the lowest price, say gold, is 2500, and you target is 5000 in pips?
Moreover, your tp value is calculated after trade. Should this be done before trade ?
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@behnnod_rp Not sure I get the idea. Do you mean calculating the distance from the open price to the lowest price of the last 10 candles and the double that distance for the TP of the trade?
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@sktsec said in take profit:
Do you mean multiplying lowest price of the last 10 candles by 2 ?
Say, if the lowest price, say gold, is 2500, and you target is 5000 in pips?
Moreover, your tp value is calculated after trade. Should this be done before trade ?hello dear friend
No, I don't mean that
In this case, the amount and number are not criteria at all
I mean if the stop loss in my trade is 50 pips and this stop loss is reached through the last price in the last 10 candles
Now my profit limit should also be 50 pips
That means, first, my loss limit should be obtained based on the lowest price in the last 10 candles
Now, whatever the amount, the profit limit should be considered exactly the same amount -
@l-andorrà said in take profit:
Not sure I get the idea. Do you mean calculating the distance from the open price to the lowest price of the last 10 candles and the double that distance for the TP of the trade?
It is absolutely true
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Sorry for the confusion but, apparently you confirmed and denied my question in two different replies?
