Stop Loss at Minimum Pips or ATR*Multiplier. Whichever is larger

[Ed_H]

Hi all,

Beginner but loving FxDreema. Heaps to learn.

I would like to make a condition that the stop loss is placed at either
a minimum number of pips
or ATR*ATRMultiplier
or the Swing High/Low prior to entry
Whichever is the larger value.

I have made the ATR Multplier using the constant and applied that correctly.
I cannot make the either/or for the Min Stop Loss.
I used Min Stop Loss as a constant to optimise.
I have not tried the swing high low because I failed with the S/L Minimum

My attempt:
https://fxdreema.com/shared/CCOdr1eNd

Thanks for your assistance!,
Ed.

[vonmunchy]

@ed_h there are so many threads on ATR SL and TP. Here is a quick summary.

Create the following variables and constants. For an example.

Constants:
Atr 21
Atr_sl_multiplayer 4
Atr_tp_multiplayer 6

Variable:
Atrv

Add a variable block, choose ATR with Atr constant and set Atrv as varible.

Under Stop loss/take profit, choose custom price faction. And type

Atrv * Atr_sl_multiplier (for sl. Remove the space before and after *)
Atrv * Atr_tp_multiplier (for tp Remove the space before and after *)

Basically whatever the ATR period that's in the variable block gets multiplied by the multiplayer and sl/tp is placed accordingly

[Ed_H]

Thanks @vonmunchy, I had a search for the threads - they didn't seem to specify my problem but I will search thoroughly and ready through more.

I will follow your instructions and see how I go.

The issue is not the ATR Multiplier functioning, but when the ATRMultiplier is less than a certain Stop Loss, 10 pips, 15 pips, 20pips etc., I want the S/L to be the minimum pips and not the smaller value reached with the ATRMultiplier. I also want this minimum pips to be a constant so I can vary it in the optimisation stage

Thanks for taking the time to respond,
Ed.

[vonmunchy]

@ed_h iv never needed a minimum sl distance so far so i cant help you. You can play around with the blocks shown below. Upon placing a trade, checks the distance from open price to SL and if its lower than whatever pip amount than modify the stop to the minimum amount. And the mimium sl can be a constant.

[Ed_H]

Ah nice, I'll have a play. They should do the trick.

Thank you so much @vonmunchy!