CODEWITHSUNDEEP
pine-scriptalgorithmic-trading
Samy
Samy

Reputation: 13

Pine Script getting the number of bars in a position

I'm trying to have a static stop loss based on the swing low at the entry time. but when i tried the following, the stop loss kept changing with every bar as there are new lowest lows

SwingLowBars=20

longStop = lowest(low, SwingLowBars)[1]

longTake = strategy.position_avg_price + ((strategy.position_avg_price-longStop)*3)

i want a function that keeps adding +1 to the SwingLowBars variable with every new candle in the position so that the longTake stays static and doesn't change when the lowest bar is more than 20 bars away

Upvotes: 1

Views: 533

Answers (1)

Andrey D
Andrey D

Reputation: 1694

You can memorize the SL value in "var" variable:

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © adolgov

//@version=4
strategy("My Strategy", overlay=true)

longCondition = crossover(sma(close, 14), sma(close, 28))
if (longCondition)
    strategy.entry("My Long Entry Id", strategy.long)

SwingLowBars=20
longStop = lowest(low, SwingLowBars)[1]
var sl = float(na)
if strategy.position_size !=0 and strategy.position_size[1] == 0
    sl := strategy.position_avg_price - ((strategy.position_avg_price-longStop)*3)
    
strategy.exit("x", stop = sl)

Upvotes: 2

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