Adding to Open

johnmensink · 2017-06-09T09:53:56+00:00

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

New
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
```
06/09/2017 at 3:22 PM #37900 quote
Nicolas
Keymaster

Legend
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
```
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 😀
06/09/2017 at 3:59 PM #37901 quote

johnmensink
Participant

New

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)

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

Nicolas
Keymaster

Legend

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

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

johnmensink
Participant

New

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