Thanks GraHal – I actually got it working. I changed the code to that of what Robert suggested at lines 35 and 36.

There are a couple of tweaks that I think are worthy of testing. Limiting the profits with a trend system based on ATR could be counter-productive as one needs to collect maximum rent from the trends that keep going. Would it be better to implement a trailing stop as Carver suggests?

Also, when calling an indicator how can we ‘test’ for differing lengths in Carver 1? Carver conducted extensive back testing in his book and the best lengths for Carver 1 are 10,20,40,80,160 and 320. When calling an indicator does it use the value on the chart being tested? Can it be changed in the code (ie tested under an ‘n’ variable)?

Also, this system doesn’t add on. Carver recommends taking a ‘nibble’ at the first entry signal and then scaling in, protecting profits with a trailing stop. Could this be added to the code as it’s a little beyond my capabilities.

I have also added a 10ema to the Carver 1- the reason  being I only want to initiate a trade (long) if Carver 1 is >0 but ALSO >10ema to prove value is not falling.

I don’t want to complicate the system as that goes against the simplicity of a trend breakout system. Many of the big hedge funds will tell you that overly complex systems that backtest well will nearly always fail in real markets. The fewer rules, the better the expected Sharpe Ratio of the system. To increase the Sharpe you are better adding more markets than more trading rules – you achieve a much better payoff!

defparam cumulateorders=false
// --- settings
balance = 10000 //balance of the strategy when activated the first time
minlot = 1 //minimum lot size for the current instrument (example: 1 for DAX)
riskpercent = 2 //risk percent per trade
//settings for days to trade
if dayofweek=1 then //Monday
daytrading=1
endif
if dayofweek=2 then // Tuesday
daytrading=1
endif
if dayofweek=3 then // Wednesday
daytrading=1
endif
if dayofweek=4 then //Thursday
daytrading=1
endif
if dayofweek=5 then // Friday
daytrading=1
endif
if dayofweek=6 or dayofweek=7 then //Sat and Sun
daytrading=0
endif
//-- indicators

//emas
ema = exponentialaverage[63](close)
ema2 = exponentialaverage[21](close)
EMAabove = ema2>ema
EMAbelow = ema2<ema
//ATR
atr = averagetruerange[24]
//Highest/lowest candle
hh = high + 1*pipsize
ll = low - 1*pipsize
//set Breakout
MA= CALL"Carver 1"[exponentialaverage[10](close)]
LongBO = CALL"Carver 1"[close >0.01 and close >  MA]
ShortBO= CALL"Carver 1"[close <-0.01 and close < MA]

//Trade entry rules
Long = emaabove and LongBO
Short = emabelow and ShortBO

if intradaybarindex=0 then
alreadytraded = 0
case = 0
levelhi = 0
levello = 0
endif

if onmarket or (onmarket[1] and not onmarket) or (currentprofit<>strategyprofit) then
alreadytraded = 1
endif

//case 2 : If price is above the MA then only trade long BUT only above the highest high of the past 24 hrs
if close >ema and long  and case = 0 then
case = 2
levelhi = hh[1]
endif

//case 3 : If price is below the MA then only trade short BUT only below the lowest low of the past 24 hrs
if close <ema and short and case = 0 then
case = 3
levello = ll[1]
endif
//endif
XCase=case
if alreadytraded = 0 then
//money management
//if case=1 then
//daytrading=0
//else
StopLoss = 1.4*ATR
endif
//Risk Setting
Risk = riskpercent/100

//calculate contracts
equity = balance + StrategyProfit
maxrisk = round(equity*Risk)
size = max(minlot,abs(round((maxrisk/StopLoss)/PointValue)*pipsize))

//in all cases put pending orders on market
while Xcase <> 0 and daytrading=1 and not OnMarket do //(time >= activationtime and time <=LimitHour) do
if levelhi>0 then
buy size contract at levelhi stop
endif
if levello>0 then
sellshort size contract at levello stop
endif
xCase=0
wend

// Friday 22:00 Close ALL operations.
IF onmarket and (DayOfWeek = 5 AND time >= 220000) THEN
SELL AT MARKET
EXITSHORT AT MARKET
ENDIF

//set target and profit

if case = 2 or case = 3 then
set target profit 1.7*ATR
set stop loss stoploss
endif

currentprofit = strategyprofit

//debugging
//graph case as "case"
//graph time=activationtime coloured(100,120,133) as "activation time!"
//graph time
//graph ema
//graph levelhi coloured(0,200,0) as "level high"
//graph levello coloured(200,0,0) as "level low"
//graph size as "mm"

2020-01-15_1133.png 2020-01-15_1135.png