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I'm trying to write a money management AFL. I start off with the scaling-out example in the user guide, and add just one more condition - after openinig a position, if it is initially profitable but before it hits the profit target of say 20% it appears to be turning into a loss. In this case I want to set the stop to be the BuyPrice.
Unfortunately it doesn't work - it just doesn't exit when the price drops below the BuyPrice.
Below please find the full AFL, would anyone be able to help ?
Buy = Cross( MA( C, 10 ), MA( C, 30 ) );
Sell = 0;//Cross(MA(C,30), MA(C,10));
// the system will exit
// 50% of position if FIRST PROFIT TARGET stop is hit
// 50% of position is SECOND PROFIT TARGET stop is hit
// 100% of position if TRAILING STOP is hit
SetTradeDelays( 0, 0, 0, 0 ); /* delay entry/exit by one bar */
FirstProfitTarget = 20; // profit
SecondProfitTarget = 40; // in percent
TrailingStop = 25; // also in percent
priceatbuy=0;
highsincebuy = 0;
exitoriginal = 0;
exitriskfree = 0;
exit = 0;
for( i = 0; i < BarCount; i++ )
{
if( priceatbuy == 0 AND Buy[ i ] )
{
priceatbuy = BuyPrice[ i ];
exitoriginal = 1;
exitriskfree = 0;
}
if( priceatbuy > 0 )
{
highsincebuy = Max( High[ i ], highsincebuy );
if (exitoriginal == 1 AND Close[i] > priceatbuy)
{
exitoriginal = 0;
exitriskfree = 1;
}
if (exitriskfree == 1 AND Low[i] <= priceatbuy)
{
exit = 3;
SellPrice[i] = priceatbuy;
exitoriginal = 0;
exitriskfree = 0;
}
if( exit == 0 AND
High[ i ] >= ( 1 + FirstProfitTarget * 0.01 ) * priceatbuy )
{
// first profit target hit - scale-out
exit = 1;
Buy[ i ] = sigScaleOut;
}
if( exit == 1 AND
High[ i ] >= ( 1 + SecondProfitTarget * 0.01 ) * priceatbuy AND
exitriskfree ==1)
{
// second profit target hit - exit
exit = 2;
SellPrice[ i ] = Max( Open[ i ], ( 1 + SecondProfitTarget * 0.01 ) * priceatbuy );
}
if(( Low[ i ] <= ( 1 - TrailingStop * 0.01 ) * highsincebuy ) AND exitriskfree==1)
{
// trailing stop hit - exit
exit = 3;
SellPrice[ i ] = Min( Open[ i ], ( 1 - TrailingStop * 0.01 ) * highsincebuy );
}
if( exit >= 2 )
{
Buy[ i ] = 0;
Sell[ i ] = exit + 1; // mark appropriate exit code
exit = 0;
priceatbuy = 0; // reset price
highsincebuy = 0;
}
}
}
SetPositionSize( 20, spsPercentOfEquity );
SetPositionSize( 50, spsPercentOfPosition * ( Buy == sigScaleOut ) ); // scale out 50% of position
// scale out 50% of position
PlotShapes( (Buy) * shapeUpArrow , IIf( (Buy), colorGreen,colorBlue ), 0,IIf( (Buy), L,H ),-20 );
Plot( Close, "Price", IIf( Close > Open, colorGreen, colorRed ),styleCandle | styleThick );
PlotShapes( (ExRem(Sell,Buy)) * shapeSmallDownTriangle , colorLightOrange, 0,H ,-15 );
Plot( MA(C, 10), _DEFAULT_NAME(), colorGreen, styleLine);
Plot( MA(C, 30), _DEFAULT_NAME(), colorRed, styleLine);
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