Implementing a Conditional Sell Order After a Specified Number of Bars

13 Jan 2023
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This ProBuilder code snippet demonstrates how to execute a sell order for one contract after a specified number of bars have elapsed since entering a long position. The code ensures that the sell order is only placed if the conditions are met, specifically after two bars from the entry of the trade.

If Not OnMarket then i = 0 Endif
i = max(i,CountOfLongShares)
if barindex-tradeindex(i)=2 then
  sell 1 contracts at market
endif

Explanation of the Code:

  • Checking Market Position: The code starts by checking if there is an open position in the market. If there is no position (`Not OnMarket`), it initializes the variable i to 0. This is crucial to reset the conditions when the market position is closed.
  • Tracking Long Shares: The variable i is updated to hold the maximum value between its current value and the count of long shares (`CountOfLongShares`). This ensures that i always reflects the highest number of long shares held since the last reset.
  • Condition for Selling: The main condition checks if the difference between the current bar index (`barindex`) and the bar index when the trade was entered (`tradeindex(i)`) equals 2. This effectively means that the sell order will be triggered exactly two bars after entering the trade.
  • Executing Sell Order: If the condition is met, the code executes a sell order for one contract at the market price. This is done using the `sell` command.

This snippet is a practical example of how to manage trade exits based on the number of bars elapsed, which is a common strategy in trading systems to capture quick market movements or to limit exposure.

Related Post

Check out this related content for more information:

https://www.prorealcode.com/topic/cumulate-orders-and-close-with-barindex-tradeindex/#post-157944

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What is a Snippet? A snippet is a small, reusable chunk of code designed to solve specific tasks quickly. Think of it as a shortcut that helps you achieve your coding goals without reinventing the wheel. How to Use: Simply copy the snippet and paste it into your project where needed. Don't forget to tweak it to fit your context. Snippets are not just time-savers; they're also learning tools to help you become a more efficient coder.
robertogozzi Master
Roberto https://www.ots-onlinetradingsoftware.com
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