Candlestick calculation doesn’t seem to work
-
Hi,
This is my first post here! I’m trying to backtest an idea where I calculate and measure the different parts of the candlesticks. I want to calculate the lower wick and if it is bigger than the higher wick it’s an entry signal. However it doesent seem to be working, it gives random results. This is the code:
body=close-open if body>0 then bodytop=close bodybottom=open else bodytop=open bodybottom=close endif shadowtop=high-bodytop shadowbottom=bodybottom-low Hammer= Shadowbottom > Shadowtop Exit= (BarIndex - TradeIndex) = 1 IF Hammer THEN BUY 1 CONTRACTS AT MARKET ENDIF If LongOnMarket THEN SELL AT MARKET ENDIFI have created an indicator with the same calculation of the wick and this seem to be working fine, see attached picture. You can also see in the attached picture that entries is not according to my expected behaviour. What am I missing?
Best regards
Thank you very much for your replies!
It still doesn’t seem to work though. The picture is the same timeframe as the backtest.
What I want to achieve is to have a backtest that buys when the wick under the body is x times as big as the wick above the body. I have updated my code with the input from above and also added the criteria that the wick under the body should be 3 times bigger than the one above in order for it to be easier to spot if it works or not.
body=close-open if body>0 then bodytop=close bodybottom=open else bodytop=open bodybottom=close endif shadowtop=high-bodytop shadowbottom=bodybottom-low Hammer= Shadowbottom > 3 * Shadowtop Exit= (BarIndex - TradeIndex) = 1 IF Hammer and not onmarket THEN BUY 1 CONTRACT AT MARKET ENDIF if onmarket then if hammer then buy 1 contract AT MARKET sell 1 contract at market else sell at market ENDIF endifThank you, I have tried this but with no luck. There seems to something else that is off… I have made the code even more basic to prove the point -> buy all times condition is met. Result is that the system is buying at correct points mostly but sometimes it’s off. Sometimes it indicates two orders same day but with different execution dates (see picture). There must be something that is not in sync?
body=close-open if body>0 then bodytop=close bodybottom=open else bodytop=open bodybottom=close endif shadowtop=high-bodytop shadowbottom=bodybottom-low Hammer= Shadowbottom > 3 * Shadowtop IF Hammer THEN BUY 1 CONTRACT AT MARKET ENDIF
- You must be logged in to reply to this topic.
Author
Summary
This topic contains 9 replies,
has 4 voices, and was last updated by
1 year, 8 months ago.
Topic Details
| Forum: | ProOrder: Automated Strategies & Backtesting |
| Language: | English |
| Started: | 06/05/2024 |
| Status: | Active |
| Attachments: | 3 files |
