Breakout indicator

Henry · 2017-12-18T10:55:25+00:00

A request that was addressed to ProRealTime: I wondered if you could help me put together a simple breakout indicator/autotrader as below? I’d like to use this programme to back test and auto trade various indices and forex markets, on various timeframes with variable £ per lot. I’m relatively new to Prorealtime and am actively trying to learn how to write programs, but info is a little sketchy so would appreciate your help with this 1st programme please. I’ll then hopefully be able to fathom out how the programme requirements in English translate to the syntax! Many thanks Breakout indicator Set time of candles to measure from and to – i.e. 16.00 to 22.00 This time needs to be adjustable to test various markets Measure highest and lowest points of that time period – this value is to be used as the target when trade entered – see below Buy/sell when candle closes above/below the highest/lowest points of measured period – ie measure highest and lowest candles for 16.00 to 22.00 and when next candle closes above or below enter trade. Stop loss equals the opposite high/low value – i.e. if enter long then s/l is the value of lowest measured point – if enter short the s/l is value of highest measured point Stop loss + “XX” pts – i.e. must be able to add “x” points to s/l for example, to set stop loss +5 pts to prevent being spiked out Take profit target is equal to value of high minus low of measured period Trading days/times and close time adjustable i.e. no trades taken after “xx:xx hrs” and all trades to be closed at “xx:xx hrs” trading days mon/tues/wed/thurs Buy/sell at £x per point – this value should be adjustable Suggestion for an anwser: begintime=160000 endtime=220000 XX=0 long=close > myhigh and close[1] > myhigh short=close begintime and time[1] begintime and time <= endtime then myhigh=max(high,myhigh) mylow=min(low,mylow) endif if not longonmarket and long then buy 1 share at market sell at mylow+XX stop set target pprofit (myhigh-mylow)/pointsize endif if longonmarket then sell at mylow+XX stop endif if not shortonmarket and short then sellshort 1 share at market exitshort at mylow-XX stop set target pprofit (myhigh-mylow)/pointsize endif if shortonmarket then exitshort at mylow-XX stop endif

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12/22/2017 at 10:11 AM #56347 quote

andy6t6
Participant

Junior

the “xx” is a value added to the stop – to stop spikes – so what ever the opposite high/low level was (which now becomes the stop level) “xx” pts will be added

12/22/2017 at 10:42 AM #56353 quote
GraHal
Participant

Master
Strat has opened a Buy Stop Order on the DAX at 13110 which is 1 point above the highest point reached between times below. I can’t figure out how it is working as I was expecting the 16 points to feature somewhere!!? 🙂 But it’s logical amyway as if it gets past that ‘highest high’ then we have a good breakout and it’ll probably whoosh onwards and upwards and make us enough to buy, well … a round of drinks!!! 🙂 🙂 🙂
```
begintime=070000
endtime=083500
XX=16
```
Andy-4-1.jpg
12/22/2017 at 11:28 AM #56357 quote

andy6t6
Participant

Junior

any thoughts on how the stop could be manually written rather than it just taking the opp high/low? would be handy for back testing to enter a max stop as it seems to run some pretty hefty stops on larger time frames…or maybe a maximum stop?

12/23/2017 at 12:16 AM #56406 quote
GraHal
Participant

Master
12 hours away from the screen (and no tv on while looking at the code! 🙂 has done me good … it’s straightforward how the Strat works and the xx value features in the exit stops (sell / exitshort). andy6t6 you say … any thoughts on how the stop could be manually written rather than it just taking the opp high/low? … I take it you mean exit stops? Well you could just use below?
```
SET STOP PTRAILING xx
OR
SET STOP PLOSS xx
```
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