CODEWITHSUNDEEP
pine-scriptalgorithmic-tradingpine-script-v4
emotionull
emotionull

Reputation: 615

Partial time-based trade exit in Pinescript

After certain number of bars - say 100 bars, if my trade hasn't exited with the original stop or take profit, I would like to exit out 50% of the trade at market value and modify the original exit order with new profit and stop loss values. Is that possible? How could I do it in Pinescript?

Upvotes: 1

Views: 918

Answers (1)

e2e4
e2e4

Reputation: 3818

You can use barssince function to count the bars, strategy.position_size to detect the long entry and qty_percent argument of the strategy.exit function:

wasLongEntry = strategy.position_size > 0 and strategy.position_size != strategy.position_size[1]
barsFromLong = barssince(wasLongEntry)

if barsFromLong >= 100
    *check for stop and take profit*
    ...
    strategy.exit( ..., qty_percent = 50, ... ) 
    //then overwrite SL/TP
    sl := ...
    tp := ...

Upvotes: 2

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