Buy/Sell at open +/- xx pips/points

• 03/08/2022 at 2:57 PM #189606
  RichardVeen

  Hi,

  I have an idea where I want to buy or sell at the open of the next candle +  2 pips/points in the 1-min timeframe

  Now I created the following code:

  OrderTollerance = 2
  c1 = open>close[1]

  if not onmarket and c1 and hora1 and hora2 then
  Buy possize contract at open+OrderTollerance stop
  endif

   

  But when I execute the code act randomly.

  Sometime it execute direct at Open of the next candle

  Sometimes it sets buy/sell limit above/under the Open of the previous candle

  Sometime it set a buy/sell limit of 1 above/under the Open

   

  Is the code correct?

  

  RichardVeen

  Participant

  Topics: 11

  Replies: 33

  Been thanked: 1 time
  03/08/2022 at 2:58 PM #189607
  RichardVeen

  Buy/Sell at Open +/- xx pips/point

  OrderTollerance = 3 c1 = open>close[1] if not onmarket and c1 and hora1 and hora2 then Buy possize contract at open+OrderTollerance stop endif

  1 2 3 4 5 6 7

  OrderTollerance = 3 c1 = open>close[1] if not onmarket and c1 and hora1 and hora2 then Buy possize contract at open+OrderTollerance stop endif

   

  

  RichardVeen

  Participant

  Topics: 11

  Replies: 33

  Been thanked: 1 time
  03/08/2022 at 3:17 PM #189613
  robertogozzi

  You are likely to be using a STOP pending order, instead of a LIMIT one.

  Can you mke an example of the bar where your conditions are met and the open of which bar you want to enter.

  Additionally, do you want to to buy 2 pips above or below the OPEN price?

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16466

  Been thanked: 3641 times
  03/08/2022 at 5:06 PM #189627
  RichardVeen

  Hi,

  The idea is to buy 2 pips above the OPEN price.

  See screenshot attached

   

  

  RichardVeen

  Participant

  Topics: 11

  Replies: 33

  Been thanked: 1 time
  03/08/2022 at 5:08 PM #189629
  robertogozzi

  Ok, you only have to replace STOP with LIMIT in line 6.

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16466

  Been thanked: 3641 times
  03/08/2022 at 5:32 PM #189632
  RichardVeen

  Hi,

  I changed the code with LIMIT and it is still the same.

  The entry is still at the OPEN price (the using the 2 points) and a few candles later it set the entry 2 points below the OPEN price of the previous candle (see screenshot)

  It seems that the ‘OrderTollerance’ is not working

  OrderTollerance = 2 c1 = open>close[1] if not onmarket and c1 and hora1 and hora2 then Buy possize contract at open+OrderTollerance LIMIT endif

  1 2 3 4 5 6 7

  OrderTollerance = 2 c1 = open>close[1] if not onmarket and c1 and hora1 and hora2 then Buy possize contract at open+OrderTollerance LIMIT endif

   

   

   

  

  RichardVeen

  Participant

  Topics: 11

  Replies: 33

  Been thanked: 1 time
  03/08/2022 at 7:24 PM #189642
  robertogozzi

  Because the current price (CLOSE) is too close to the entry price (on DAX usually IG requires at least 6 points from the entry price, but it may change when volatility is high) and is entered incorrectly (in live trading the strategy would be interrupted).

  On the IG website you may find the values for each instrument/asset.

  This is the code with the support for the distance:

  OrderTollerance = 2 Distance = 6 c1 = open>close[1] if not onmarket and c1 and hora1 and hora2 then EntryPrice = open + OrderTollerance IF close > (EntryPrice + Distance) THEN Buy possize contract at EntryPrice LIMIT ELSIF close < (EntryPrice - Distance) THEN Buy possize contract at EntryPrice STOP ELSE //Buy possize contract at MARKET ENDIF endif

  1 2 3 4 5 6 7 8 9 10 11 12 13

  OrderTollerance = 2 Distance        = 6 c1 = open>close[1] if not onmarket and c1 and hora1 and hora2 then    EntryPrice = open + OrderTollerance    IF close > (EntryPrice + Distance) THEN       Buy possize contract at EntryPrice LIMIT    ELSIF close < (EntryPrice - Distance) THEN       Buy possize contract at EntryPrice STOP    ELSE       //Buy possize contract at MARKET    ENDIF endif

  I commented out the line where the entry is at MARKET because too close to the Entry price. You may remove the two slashes to enable entering at MARKET in that case.

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16466

  Been thanked: 3641 times
• Author
  Posts