I have been trying for quite awhile to get a trading system to reverse position when a stop is hit but I am unsure how to go about that. For example, when a long stop is hit want to reverse the position by entering a short. I have tried using the action XLREVERSE when a long stop is hit for example, but I am unsure how exactly I should be doing that.
By default the trading system is doing its job by reversing the position, but the target is a random value that is not my default target. Do I need to create an additional trading rule for that action, if so how would I got about that?
In my initial longentry rule I have set my stop for the long with SET(V#16, CL - 19 * TINC) with the rule price being last while the action is set to BUY.
Then in the longstop exit signal I have LO <= V#16 OR TIME > 1229 with the rule price being V#16 while the action is set to XLREVERSE. Then I then added SET(V#79, CL - 19 * TINC) in that longstop exit signal.
I tried creating another trading rule positioned below the longstop rule to exit the position by using LO <= V#79 OR TIME > 1229 with the rule action set to COVERSHORT at V#79, but it doesn't trigger at that value.
I am unsure where I am going wrong with the rules.
I would appreciate any help I can get.
Thanks in advance!