Search code examples
pine-scriptpine-script-v5

Entry, TP and SL levels do not match up within strategy

I am wanting to enter the stop loss, entry (limit) and take profit prices into a strategy.

I have plotted the above 3 markers out to start with:

float shortStopLoss = 1.065
float shortEntry = 1.064
float shortTakeProfit = 1.061

plot(shortStopLoss, "Stop", color.red, 2, plot.style_linebr)
plot(shortEntry, "Entry 1", color.white, 2, plot.style_linebr)
plot(shortTakeProfit, "Limit 1", color.green, 2, plot.style_linebr)

The markers show the correct positions on the chart.

The price of the markers, however, are slightly different to the values outputted in the logs (shown above):

  1. shortStoploss is 1.06536
  2. shortEntry is 1.06438
  3. shortTakeProfit is 1.06144

Using the same three variables (shortStopLoss, shortEntry, shortTakeProfit) within:

strategy.entry("Enter short LH", strategy.short, limit = shortEntry, qty = 1)
strategy.exit("Exit Short LH", from_entry = "Enter short LH", stop = shortStopLoss, profit = shortTakeProfit)

They're completely misaligned on the chart, i.e. wrong stop loss position, take profit position etc:

Misaligned entries

Why is this? Thank you for your help.

Solution

  • Your use of profit in strategy.exit() is incorrect. You are specifying price value, however, profit expects values in ticks. This causes your trades to be closed immediately because being 1 tick in profit is very likely to happen on the next bar.

    You should be using the limit argument, instead.

    Secondly, you should double check your usage of limit in strategy.entry(). You might want to use stop instead. Or a combination of both. Or just the limit. Just check that based on your requirements.