Create a signal when the market drops 50 points

pancho0423 · 2018-06-20T06:58:50+00:00

Hello At first thanks so much for all the information you offer. It´s possible to program a signal, and later long position be executed when the market drops 50 points of the close of that signal? For example indicator1=RSI[5](close) signal= indicator < 30 //buy if close < signalprice - 50 // Thanks

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06/20/2018 at 7:58 AM #73726 quote
pancho0423
Participant

New
Hello
At first thanks so much for all the information you offer.
It´s possible to program a signal, and later long position be executed when the market drops 50 points of the close of that signal?

For example
```
indicator1=RSI[5](close)
signal= indicator < 30

//buy if close < signalprice - 50 //
```
Thanks
06/20/2018 at 8:52 AM #73729 quote
robertogozzi
Moderator

Legend
Yes
```
If close < signal - 50 * pipsize then
   Buy......
Endif
```
06/20/2018 at 8:56 AM #73730 quote
robertogozzi
Moderator

Legend
You may also use pending orders:
```
Buy 1 contract at signal - 50 * pipsize limit
```
but you will have to place it again, if not entered, because pending orders expire after one bar.
06/20/2018 at 9:01 AM #73731 quote
robertogozzi
Moderator

Legend
SIGNAL must contain a price, not a logical value
```
if indicator1 > 30 then
   signal = close
endif
```
06/22/2018 at 9:31 AM #74021 quote

pancho0423
Participant

New

thanks robertogozzi
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Create a signal when the market drops 50 points

ProOrder: Automated Strategies & Backtesting

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This topic contains 4 replies,
has 2 voices, and was last updated by pancho0423
8 years, 3 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	06/20/2018
Status:	Active
Attachments:	No files