Buying an Outside candle via BuyStop

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10/10/2020 at 1:32 PM #146974 quote

f1_maik
Participant

Junior

How do I program this?

Stopbuy at High Outside + 25% * (High of the Outsidecandle -Low of the Outsidecandle)

the stopbuy should only be executed within the next 3 candles

Target Profit = High Outside + 50% * (High of the Outsidecandle – Low of the Outsidecandle)
Stop Loss = Low Outsidecandle

10/10/2020 at 3:31 PM #146996 quote
robertogozzi
Moderator

Legend
There you go (not tested):
```
Defparam CumulateOrders = false
Outside1 = high > high[1] and low < low[1]
Outside2 = max(open,close) > max(open[1],close[1])
Outside3 = min(open,close) < min(open[1],close[1])
OutsideBar = Outside1 and Outside2 and Outside3
If OutsideBar then
   Entry = high + (range * 0.25)
   TP     = abs(Entry - (high + (range * 0.50)))
   SL     = abs(Entry - low)
Endif
If summation[3](OutsideBar) then
   Buy 1 contract at Entry STOP
   Set Target Profit TP
   Set Stop    Loss   SL
Endif
```
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10/10/2020 at 4:17 PM #147001 quote

f1_maik
Participant

Junior

i thank you very much

10/11/2020 at 4:51 PM #147065 quote
f1_maik
Participant

Junior
Maybe one more step back. Maybe you can help me again.

I understand that this part of code, define entry, sl, tp – correct?
```
If OutsideBar then
   Entry = high + (range * 0.25)
   TP     = abs(Entry - (high + (range * 0.50)))
   SL     = abs(Entry - low)
Endif
```
Which part of the code says that the StopBuy is only executed with the next 3 candles? With this one?
```
If summation[3](OutsideBar) then
   Buy 1 contract at Entry STOP
   Set Target Profit TP
   Set Stop   Loss   SL
Endif
```
and if so and I would set n=5, then the StopBuy would only be possible within the next 5 candles – correct?
```
n = 5
If summation[n](OutsideBar) then
   Buy 1 contract at Entry STOP
   Set Target Profit TP
   Set Stop    Loss   SL
Endif
```
Allright?
10/11/2020 at 6:04 PM #147067 quote

robertogozzi
Moderator

Legend

All of your assumptions are correct.

10/12/2020 at 12:35 PM #147157 quote

f1_maik
Participant

Junior

So fine and a big thank you to you.

The first step of the strategie is done.

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