5-Bar Run (Help)

• 10/12/2020 at 4:56 PM #147182
  April O’Neil

  Hello,

  I need help to find error in the strategy bellow, the code do not enter position.

  here is strategy’s rules :

  • Wait for 5 bar down in a row
  • Confirm with RSI<10
  • Wait for doji
  • Take Profit in funtion of the entry price (50% of the downward move represented by the 5 precedents bars)

  Hourly or Daily Datas.

  5-Bar Run

  //////////inputs minbarsdown = 5 RSIthreshold = 10 dojispan = 0.10 proftarget = 0.50 exitbars=5 exitRSI=50 count = 0 n = 1 ///////vars mom = RSI[14](close) doji = abs(open - close)/(high - low) if close > close[1] then count = count + 1 elsif close < close[1] then count = 0 endif //ENTRY if count >= minbarsdown and mom <= RSIthreshold and doji < dojispan then buy n shares at market SET TARGET PROFIT (TRADEPRICE(1) + proftarget*(close[count] - close)) endif //exit if longonmarket and (mom > exitRSI or (BARINDEX-TRADEINDEX(1)) >= exitbars) then sell n shares at market ENDIF

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  //////////inputs minbarsdown = 5 RSIthreshold = 10 dojispan = 0.10 proftarget = 0.50 exitbars=5 exitRSI=50 count = 0 n = 1   ///////vars mom = RSI[14](close) doji = abs(open - close)/(high - low)     if close > close[1] then count = count + 1 elsif close < close[1] then count = 0 endif     //ENTRY if count >= minbarsdown and mom <= RSIthreshold and doji < dojispan then buy n shares at market SET TARGET PROFIT (TRADEPRICE(1) + proftarget*(close[count] - close)) endif   //exit if longonmarket  and (mom > exitRSI or (BARINDEX-TRADEINDEX(1)) >= exitbars) then sell n shares at market ENDIF

   

   

  

  April O’Neil

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  10/12/2020 at 5:42 PM #147191
  robertogozzi

  Your code could be:

  //////////inputs minbarsdown = 5 RSIthreshold = 10 dojispan = 0.10 proftarget = 0.50 exitbars=5 exitRSI=50 n = 1 ///////vars mom = RSI[14](close) doji = abs(open - close)/(high - low) //ENTRY if summation[5](close > close[1]) = minbarsdown and mom <= RSIthreshold and doji < dojispan then buy n shares at market SET TARGET PROFIT (TRADEPRICE(1) + proftarget*(close[count] - close)) endif //exit if longonmarket and (mom > exitRSI or (BARINDEX-TRADEINDEX(1)) >= exitbars) then sell n shares at market ENDIF

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  //////////inputs minbarsdown = 5 RSIthreshold = 10 dojispan = 0.10 proftarget = 0.50 exitbars=5 exitRSI=50 n = 1 ///////vars mom = RSI[14](close) doji = abs(open - close)/(high - low) //ENTRY if summation[5](close > close[1]) = minbarsdown and mom <= RSIthreshold and doji < dojispan then    buy n shares at market    SET TARGET PROFIT (TRADEPRICE(1) + proftarget*(close[count] - close)) endif //exit if longonmarket  and (mom > exitRSI or (BARINDEX-TRADEINDEX(1)) >= exitbars) then    sell n shares at market ENDIF

  using SUMMATION is simpler and faster.

   

  

  robertogozzi

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  10/12/2020 at 5:46 PM #147192
  robertogozzi

  You wrote BARS DOWN, but actually your code (and mine) is counting BARS UP.

  If you want to scan bearish bars, you just need to replace “>” with “<” at line 15 with SUMMATION.

  

  robertogozzi

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  10/12/2020 at 5:56 PM #147197
  April O’Neil

  Thanks Roberto,

  But still doesn’t resolve the problem

   

  

  April O’Neil

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  10/12/2020 at 6:15 PM #147200
  robertogozzi

  Parameters are too strict, when DOJI is < 0.10 MOM is never below 10 (in my test). Try to test it with a higher value for RSIthreshold.

  In my code you will be reported COUNT as not exixting. I don’t know what you are exactly using it for, but this is your original code with the addition of my solution:

  //////////inputs minbarsdown = 5 RSIthreshold = 10 dojispan = 0.10 proftarget = 0.50 exitbars=5 exitRSI=50 count = 0 n = 1 ///////vars mom = RSI[14](close) doji = abs(open - close)/(high - low) if close > close[1] then count = count + 1 elsif close < close[1] then count = 0 endif //ENTRY if summation[5](close > close[1]) = minbarsdown and mom <= RSIthreshold and doji < dojispan then buy n shares at market SET TARGET PROFIT (TRADEPRICE(1) + proftarget*(close[count] - close)) endif //exit if longonmarket and (mom > exitRSI or (BARINDEX-TRADEINDEX(1)) >= exitbars) then sell n shares at market ENDIF

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  //////////inputs minbarsdown = 5 RSIthreshold = 10 dojispan = 0.10 proftarget = 0.50 exitbars=5 exitRSI=50 count = 0 n = 1 ///////vars mom = RSI[14](close) doji = abs(open - close)/(high - low) if close > close[1] then count = count + 1 elsif close < close[1] then count = 0 endif //ENTRY if summation[5](close > close[1]) = minbarsdown and mom <= RSIthreshold and doji < dojispan then buy n shares at market SET TARGET PROFIT (TRADEPRICE(1) + proftarget*(close[count] - close)) endif //exit if longonmarket  and (mom > exitRSI or (BARINDEX-TRADEINDEX(1)) >= exitbars) then sell n shares at market ENDIF

  moreover, your stop loss will never be reached because it’s a price, not a difference between prices which is what LOSS requires, on DAX it would be ove 13000 pips!, you should compute a difference, such as abs(HIGH – TradePrice(1)) or the like.

  

  robertogozzi

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  10/12/2020 at 6:28 PM #147203
  April O’Neil

  Perfect, i spotted the problem,

  Thanks for your great help.

  Gonna work on it and post results if they give something of interest.

  

  April O’Neil

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