Take Profit by Parabolic Sar directly from Buy/Sell Block
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Hi guys,
currently testing TPs directly from Buy/Sell section.
When selecting Parabolic Sar i only can select the Value of min. and max. but not if price must be above or below the indicator.
Somebody please know how to solve this?
Thx
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Use Condition Block> Candle (Close/High/Low/etc) is above/below Psar..> Close Trades block.....
If Trade > Condition > Close Trades.....*
In the Buy/Sell block select No TP....*
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Hi, thank you for your idea.
So you mean extra condition block, right?
Tested the Take Profit function before directly from Buy/ Sell for other indicators like Bollinger Bands as well, did work.What i dont get is why is cant be closed directly by value based indicators like Parabolic.
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Extra tree altogether...Like this...>>
It won't close directly because the TP field is not stating if the candle is above or below the PSar yeh....*
Hope this helps*
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Hi, thank you very much.
Created new account today.So you mean place entire thing/ row next to actual conditions, like new area right?
Ok, but why does it close by Take Profit by other "price level" on chart indicators like Bollinger Bands or Zig Zag.
I mean, it doesnt know if candle is above at BB or am i wrong? -
First question: Yes. New area/Different tree....etc...
Second Question: In Bollinger Bands for example, it has the setting Upper Band/Middle Line etc...Which means it is placing the SL at that level. Whereas a candle never actually touches a PSar dot.....Hope that makes sense* :-))
You could draw a line at a previous PSar dot and tell the EA to close trades if it touches that line...etc*
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Ok got it, because Bollinger Bands is repainted by the indicator itself, but not candle related.
Thing is, currently testing different Take Profit/ Trade Mgnt approaches for Bollinger Bands and Stochastic system.
What i've found from backtesting, that sometimes prices rejectes at or near the middle band or it crosses thorugh to the opposite band and even further if momentum is given.
Because every trade is dynamic, would'nt help to also take profit at middle band.
- because to let EA have cut in profit when needed, but on the other hand let profits run, hope makes sense : )
Also got the idea before postet in different threat, to close when stochastic is crossing in opposite direction, but unfortunately can't handle crossover in the buy/ sell condition directly as well.
Tried by custom price fraction but didnt work either.Seems to be congruent to what you said, is with parabolic sar.
What i also found from backtesting, that most trailing stop approaches won't work either, because in the beginning you want to give market enough "wiggle" room at your entry point, sometimes comes back one more time, sometimes not,
but if trailing stop to close it would end trade to early, when it was only a little pullback.
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You could try opening 2 trades. TP1 is at middle Bollinger Band. When hit, move SL to Break Even on the 2nd trade to see if it runs further.
Yes Trailing Stop can be good or bad. Just a matter of testing it to see if it's better to use it or not....
Trade definately needs room to 'wiggle'....Keep at it.
Regards*
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Yeah you right, it might always depend on trading style and frequency.
Currently only trading EUro/USD in 1h timeframe.
What i've found from backtesting, once a trading is "out of entry zone", so for example SL would be 120 Pips, and current profit is up 100 pips, so it is unlike for market come back that far, i've found that you want to squeeze profits and only cut trade if there is serious alert or reversal signal.
It is very unlikely that market pullbacks entire way back, but little possiblity.
Then if market wants to run, need to let it run.Just asking, do you already have an EA trading for you, and do you use prop firms or your own capital?
What is your preferred method to trade mgnt? Do you prefer multiple tps or only hit Take Profit or Stop loss.
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I'm constantly trying different EAs yes...
I don't know much about Prop Firms but if they involve borrowing money or going into some kind of debt, I definately would NOT use them!
Trade Mgnt: Trade lot sizes relevant to your account size. Always use SLs.
Martingales or Grids will always eventually blow your account, unless you have $100K balance and trade 0.01 lot size.... and even then they are still risky....Multiple TPs etc depends on the strategy and time frame....*
Regards*
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Yes not a fan of martingale either.
Ok, just wanted to ask if you're using multiple tps or system to close full position.
thx.
Greetings
