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smyth64/breakeven.pinescript

Created March 23, 2022 00:10
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Pinescript Set Stop Loss to breakeven
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breakeven.pinescript
breakEvenActivated = input(true, title = 'Break Even Activated', type = input.bool, group="Weedy")
breakEvenPercentage = input(1, title = 'At how many % will the break even stop loss be activated', step=0.1, type = input.float, group="Weedy") * 0.01
breakEvenProfitPercentage = input(0, title = 'Move Stop loss to x% profit', step=0.1, type = input.float, group="Weedy") * 0.01
isLong = strategy.position_size > 0
isShort = strategy.position_size < 0
if (breakEvenActivated)
breakEvenLong = isLong and close > strategy.position_avg_price * (1 + breakEvenPercentage)
breakEvenPriceLong = strategy.position_avg_price * (1 + breakEvenProfitPercentage)
breakEvenShort = isShort and close < strategy.position_avg_price * (1 - breakEvenPercentage)
breakEvenPriceShort = strategy.position_avg_price * (1 - breakEvenProfitPercentage)
strategy.exit(id='Long', comment="Breakeven", stop=breakEvenPriceLong, when=breakEvenLong, qty_percent = 100)
strategy.exit(id='Short', comment="Breakeven", stop=breakEvenPriceShort, when=breakEvenShort, qty_percent = 100)
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