Profit Stop on Entry Bar

The profit stop option in a trading system executes the profit stop also on the bar on which a position was opened.
In volatile markets or if the profit stop is quite close to the entry price, this might lead to an early exit of a position.

If for example a long position was opened at a limit of 99 on the following bar: O=100, H=105, L=95, C=102 and a profit stop of 5 points (price level of 104) is set, the question becomes, if intra-bar the price level of 104 was seen before or after the entry. This cannot be definitely determined without having intra-bar data.

This script provides the following solution: Profit target on the entry-bar is only executed, when
a) the entry happened at Open or
b) target price is reached at close.
In these cases profit stop is independent from intra-bar development.

Please disable the profit stop option in your trading system while using this script.

The script has 3 parameters:
Profit Stop Type: select between Disabled, Percentage and Point
Profit Target: if you have chosen Percentage-Type, e.g. enter 5 for 5%, in case of Point-Type enter 5 for 5 currency units.
Analyse Close Reasons: select yes if you want to analyse exit reasons in the trading system report.

Technical Analysis

• Accumulation Swing Index (To measure long term trends)
• Swiss Army Knife Indicator - SWAK
• Short Term Bullish signal for NSE Stocks
• State Change Pattern in a Trading Rule
• Stocks with the highest Volume Increase
• watchlist4
• Fixed Bucket Calculation
• Advancing-Declining-Unchanged volume for NYSE, AMEX and NASDAQ
• Gap Up/Down Market Breadh Indicator
• Alpha/Jensen index of a Security
• More trading objects...

Fundamental Analysis

• Earnings database
• St. Louis Fed Financial Stress Index
• Recent Insider Buying and Selling for US Stocks
• Bankruptcy Filings - Chapter 7
• Short Ratio Index
• UK Economic Data - Average Earnings Index
• Market Cap Historical Data for the US Stock Market
• AAII Asset Allocation Survey: Stock Funds, Stocks, Bond Funds, Bonds and Cash
• Fails to deliver - Reported by the SEC
• Producer Price Index - PPI
• More trading objects...