Avoid Reentry in Easy Language

[Avoid Reentry in Easy Language]

Hi Trading friends

 

How can I stop Tradestation from taking a new position directly when Stoploss/trailstop has been hit. I don´t wont to use crosses over function.

 

Thanks for your help.

 

Best regards

Magnus

 

 

 

 

 

inputs: FastMovAvg(12), SlowMovAvg(26), Stoploss (2), trailstop (2);

Vars: Mashort ( 0 ), Malong (0);

Mashort=Average(close, FastMovAvg);

Malong=Average(close, SlowMovAvg);

 

 

If Mashort > Malong then

buy next bar at market;

 

 

 

if MarketPosition <> 0 then begin

Setstopcontract;

SetStopLoss(Stoploss*Bigpointvalue);

Setdollartrailing(trailstop*Bigpointvalue);

End;