Adding to Open

• 06/09/2017 at 10:53 AM #37879
  johnmensink

  I am trying to create a simple system that takes the Open price and adds 28 points to it.
  This far I can’t seem to get it working right. If I backtest it, the graph shows it always buys on the Open price + 0.5 (half the spread on DAX)
  So I think the 28 is left out of the formula.
  I have tried multiple things, with all the same result:

  c1 = open + 28
  c1 = high > (open+28)
  c1 = open + 0.028
  c1 = (open => 28)

  The complete code:

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Prevents the system from placing new orders on specified days of the week daysForbiddenEntry = OpenDayOfWeek = 6 OR OpenDayOfWeek = 0 // Conditions to enter long positions c1 = (open + 28) IF c1 AND not daysForbiddenEntry THEN BUY 1 PERPOINT AT MARKET ENDIF // Stops and targets SET STOP pLOSS 70 SET TARGET pPROFIT 9

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated   // Prevents the system from placing new orders on specified days of the week daysForbiddenEntry = OpenDayOfWeek = 6 OR OpenDayOfWeek = 0   // Conditions to enter long positions c1 = (open + 28)   IF c1 AND not daysForbiddenEntry THEN BUY 1 PERPOINT AT MARKET ENDIF   // Stops and targets SET STOP pLOSS 70 SET TARGET pPROFIT 9

   

  

  johnmensink

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  06/09/2017 at 3:22 PM #37900
  Nicolas

  Because the code is only read once per bar at its Close, the program will never met your c1 condition. In order to put a pending order on market (a conditional order) you’ll have to use a STOP or a LIMIT one. In your case, because you want to buy at an higher price than the actual one, you should use STOP order, like this:

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated // Prevents the system from placing new orders on specified days of the week daysForbiddenEntry = OpenDayOfWeek = 6 OR OpenDayOfWeek = 0 IF not daysForbiddenEntry THEN BUY 1 PERPOINT AT close+28*pointsize STOP ENDIF // Stops and targets SET STOP pLOSS 70 SET TARGET pPROFIT 9

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated   // Prevents the system from placing new orders on specified days of the week daysForbiddenEntry = OpenDayOfWeek = 6 OR OpenDayOfWeek = 0   IF not daysForbiddenEntry THEN BUY 1 PERPOINT AT close+28*pointsize STOP ENDIF   // Stops and targets SET STOP pLOSS 70 SET TARGET pPROFIT 9

  The stop order will remain active only 1 bar. I use Close instead of Open, because it will put the order at current Close level (+28 points) of the candlestick (when the code is read) and at the next bar open. Hope it’s clear 😀

  

  Nicolas

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  06/09/2017 at 3:59 PM #37901
  johnmensink

  Thank you Nicolas, that helps a lot!
  I can work with this.

  If I use this code, will there be a conditional order added to my ‘working orders’ on IG?
  Or will it only be visible on ProReal. (ProReal makes a market deal once the parameters are met)

  

  johnmensink

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  06/09/2017 at 4:06 PM #37903
  Nicolas

  The pending orders will be of course visible in your broker orders list, just like any other ones 🙂

  

  Nicolas

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  06/09/2017 at 4:19 PM #37905
  johnmensink

  I was hoping I could skip the margin withdrawal 🙂 (other brokers do not take margin for pending orders)

  

  johnmensink

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