Close trade on price determined by indicator condition

Question

I am trying to enter a stop loss for a Pine Script V5 strategy. The stop loss is -0.10% of the red line of the indicator. To find this level I have created a (white) line. I must then necessarily close the trade at the exact price of the white line. At the moment I have tried thousands of solutions all of which close only after the breakout candle (this is great for repainting but not sufficient for the solution I am looking for now). Can anyone tell me how to get a precise exit on the white line ?

`//@version=5
strategy("", overlay = true, currency = currency.EUR,
     initial_capital = 1000, commission_type = strategy.commission.percent, commission_value = 0.03, 
     default_qty_value = 100, default_qty_type = strategy.percent_of_equity)


len     = input(title = 'PERIOD', defval = 10, group = "SETTING INDICATOR")
smaHigh = ta.sma(high, len)
smaLow  = ta.sma(low,  len)
Hlv     = int(na)
Hlv := close > smaHigh ? 1 : close < smaLow ? -1 : Hlv[1]
sslDown = Hlv < 0 ? smaHigh : smaLow
sslUp   = Hlv < 0 ? smaLow : smaHigh

plot(sslDown, linewidth = 2, color = color.new(color.red, 0))
plot(sslUp,   linewidth = 2, color = color.new(color.lime, 0))

LongEntry = ta.crossover (sslUp,  sslDown) and barstate.isconfirmed
LongExit  = ta.crossunder(sslUp,  sslDown) and barstate.isconfirmed

isLong    = LongEntry //and inDateRange

if (isLong and barstate.isconfirmed)
    strategy.entry(id = "BUY",  direction  = strategy.long, qty = 100)

var int bar     = 0
var int count   = 0

if LongEntry
    bar := bar_index
    bar
count := bar_index - bar + 1

isExit = if LongExit 
    close 

StopLoss = input.float(defval = 0.10, title = "STOP LOSS VALUE", minval = 0.00)
distance = (sslDown * StopLoss) / 100
Value    = (sslDown - distance)

SL      = ta.valuewhen(LongEntry, Value, 0)

plot(SL, color = color.white)

Close = if ta.crossunder(close, SL)
    close

strategy.exit("CLOSE LONG", from_entry = "BUY", stop = Close)
    //strategy.close_all(when = SL)
    //strategy.close_all(when = isExitStopLoss, comment = "CLOSE TRADE STOP LOSS")`

Answer 1

Use the SL variable as a stop= argument instead of the Close, which returns na when there is no ta.crosunder() condition met:

//@version=5
strategy("", overlay = true, currency = currency.EUR,
     initial_capital = 1000, commission_type = strategy.commission.percent, commission_value = 0.03, 
     default_qty_value = 100, default_qty_type = strategy.percent_of_equity)


len     = input(title = 'PERIOD', defval = 10, group = "SETTING INDICATOR")
smaHigh = ta.sma(high, len)
smaLow  = ta.sma(low,  len)
Hlv     = int(na)
Hlv := close > smaHigh ? 1 : close < smaLow ? -1 : Hlv[1]
sslDown = Hlv < 0 ? smaHigh : smaLow
sslUp   = Hlv < 0 ? smaLow : smaHigh

plot(sslDown, linewidth = 2, color = color.new(color.red, 0))
plot(sslUp,   linewidth = 2, color = color.new(color.lime, 0))

LongEntry = ta.crossover (sslUp,  sslDown) and barstate.isconfirmed
LongExit  = ta.crossunder(sslUp,  sslDown) and barstate.isconfirmed

isLong    = LongEntry //and inDateRange

if (isLong and barstate.isconfirmed)
    strategy.entry(id = "BUY",  direction  = strategy.long, qty = 100)

var int bar     = 0
var int count   = 0

if LongEntry
    bar := bar_index
    bar
count := bar_index - bar + 1

isExit = if LongExit 
    close 

StopLoss = input.float(defval = 0.10, title = "STOP LOSS VALUE", minval = 0.00)
distance = (sslDown * StopLoss) / 100
Value    = (sslDown - distance)

SL      = ta.valuewhen(LongEntry, Value, 0)

plot(SL, color = color.white)

// Close = if ta.crossunder(close, SL)
//     close
//plot(Close) // <- returns 'na' if there is no crossunder

strategy.exit("CLOSE LONG", from_entry = "BUY", stop = SL)
    //strategy.close_all(when = SL)
    //strategy.close_all(when = isExitStopLoss, comment = "CLOSE TRADE STOP LOSS")