cascade ordering system

Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • 11/18/2023 at 1:02 AM #223879 quote
    ullle73ullle73
    Participant
    Senior

    I saw an interesting strategy. I need help coding it, looked really promising.

    Base numbers: Stock ABC is at 100 (attached image for a clearer view)

    • Buy 1 lot when rsi 3 crosses above 70 (follow momentum)
    • Set SL: x points (example 10 points)
    • Set TP y points (example 20 points)
    • If TP is hit, we open lot #2 and moveĀ  both SL to 5 points below lot #2 entry (we opened the buy in ABC at 100, moved to our TP at 120, we open lot #2 at 120,Ā  SL for both lots are at 115)
    • If SL is hit, exit all positions
    • If new TP at 140 is hit, open lot #3, set SL for all 3 lots at 5 points below lot #3 entry.
    • Repeat until SL is hit.
    • Reverse the rules for shorts.
    cascade-strategy.jpg cascade-strategy.jpg
    11/26/2023 at 9:23 PM #224330 quote
    ullle73ullle73
    Participant
    Senior

    hoping for Roberto to save the day šŸ˜€

    11/27/2023 at 12:57 PM #224393 quote
    MonochromeMonochrome
    Participant
    Senior

    Here’s some code to get started. Courtesy of chatpgt –

     

    // Initial setup
DEFPARAM CumulateOrders = False // Each order is treated separately
DEFPARAM FlatAfter = 235900 // Close all positions at the end of the day

// Parameters
Lot1EntryPrice = 100
SLPoints = 10
TPPoints = 20
SLAdjustment = 5
LotSize = 1 // Size of each lot

// RSI calculation
RSI3 = RSI[3](close)

// Conditions
BuyCondition = RSI3 crosses over 70
SellCondition = RSI3 crosses under 30

// State variables to keep track of lots
NumLots = 0
TotalEntryPrice = 0

// Buying Logic
IF BuyCondition AND NumLots = 0 THEN
BUY LotSize CONTRACT AT MARKET
SetStop = Lot1EntryPrice - SLPoints
SetTarget = Lot1EntryPrice + TPPoints
NumLots = 1
TotalEntryPrice = Lot1EntryPrice
ENDIF

IF NumLots > 0 AND close >= TotalEntryPrice + (TPPoints * NumLots) THEN
BUY LotSize CONTRACT AT MARKET
NumLots = NumLots + 1
TotalEntryPrice = TotalEntryPrice + close
SetStop = close - SLAdjustment
ENDIF

// Selling Logic
IF SellCondition AND NumLots = 0 THEN
SELLSHORT LotSize CONTRACT AT MARKET
SetStop = Lot1EntryPrice + SLPoints
SetTarget = Lot1EntryPrice - TPPoints
NumLots = 1
TotalEntryPrice = Lot1EntryPrice
ENDIF

IF NumLots > 0 AND close <= TotalEntryPrice - (TPPoints * NumLots) THEN
SELLSHORT LotSize CONTRACT AT MARKET
NumLots = NumLots + 1
TotalEntryPrice = TotalEntryPrice + close
SetStop = close + SLAdjustment
ENDIF

// Exiting Logic
IF (LongOnMarket AND close <= SetStop) OR (ShortOnMarket AND close >= SetStop) THEN
SELL AT MARKET
exitSHORT AT MARKET
NumLots = 0
TotalEntryPrice = 0
ENDIF
    robertogozzi thanked this post
    11/27/2023 at 1:21 PM #224396 quote
    PeterStPeterSt
    Participant
    Master

    My eye fell on this :

    NumLots = 0
TotalEntryPrice = 0

    And with this it may have a chance :

    Once NumLots = 0
Once TotalEntryPrice = 0

    šŸ™‚

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.
Similar topics
One click ordering
One-click ordering – big problem
ProRealAI ProRealAI New

Stuck on this ProBuilder code?

Describe what this topic is trying to build, in plain English, and ProRealAI writes the ProRealTimeā„¢ indicator, screener or system for you.

Available in 7 languages
Try ProRealAI

cascade ordering system


ProOrder: Automated Strategies & Backtesting

New Reply
Author
author-avatar
ullle73 @jonas_rydqvist Participant
Summary

This topic contains 3 replies,
has 3 voices, and was last updated by PeterStPeterSt
2 years, 10 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 11/18/2023
Status: Active
Attachments: 1 files
ProRealCode ProRealCode
Loading...
Do you like cookies? 🍪 We use cookies to ensure you get the best experience on our website. (Learn more)
©2026 ProRealCode - Trading & Coding with ProRealTimeā„¢