BEST Strategy Template w/ Custom SL/TP Size - Educational by Daveatt
By Daveatt
Performance Metrics
- Author: Daveatt
- Symbol: CME_MINI:MES1!
- Timeframe: 2 hours
- Net P&L: +361,921.81 USD (+35.92%)
- Win Rate: 45.8%
- Profit Factor: 1.313
- Max Drawdown: 251,563.23 USD (20.84%)
- Total Trades: 118
- Sharpe Ratio: 0.168
Description
Hello tradersI'm getting this question at least once per week: "how to define a custom exit quantity for my stop loss and a different one for my take profit"Instead of answering every day the same question in my DMs, I've decided to publish an educational strategy template script using thisFeatures- Select to use or not the SL and/or TP- Define how many pips/USD the SL/TP should be set at from the entry- Define what quantity percentage you want to close at SL and/or at TP (lines 301 to 320 in the code)- Classical custom trailing stop where the SL is moved to breakeven once the TP is hit- Get real-time backtesting stats based on the options you've selectedUpdateYou might not know it yet but from last week (or maybe the week before), the qty/qty_percent from the strategy.exit function refers now to the initial position size (and not the remaining position size like before)For example: strategy.exit("EX1", qty_percent = 50, stop = constant) strategy.exit("EX2", qty_percent = 20, stop = constant)What happened beforeAfter "EX1" reaches SL levels, "EX2" exits 20% from the % of the remaining position size. If the initial position size = 100 contractsEX1 exits 50 contractsEX2 exits 20% of 50 contracts = 10 contractsWhat's happening nowAfter "EX1" reaches SL levels, "EX2" exits 20% from the % of the original position size. If the initial position size = 100 contractsEX1 exits 50 contractsEX2 exits 20 (20% of 100 contracts) contractsI think this is an improvement and I really enjoy this new behavior.See you in a few days with another post :)ALL THE BESTDave