Enter below a certain price

• 11/18/2017 at 2:15 AM #53148
  Abz

  Hello

  I am trying to achive this in a strategy i am going to build. Once the strategy has achived all its critera for LONG and  let say the price at that moment is 50$ i then want to wait for the price to drop to 48$ before enter.

  i was thinking of tradeprice but is it possible to set the trade price without doing the actuall trade?

  Thanks for all reply.

  

  Abz

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  11/18/2017 at 7:39 AM #53157
  Leo

  place a limit order

  buy 1 contract at 48 limit

  1	buy 1 contract at 48 limit

   

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  11/18/2017 at 8:29 AM #53160
  Abz

  Hello Leo

  50$ vas just an example price , price coud be whatever. How can i save the price achived when all criterias was met and then Wait for certain points to drop before enter

  

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  11/18/2017 at 10:00 AM #53162
  AutoStrategist

  Leo has given you the answer, the LIMIT statement instructs the system to buy at a lower price than the current one, you tell it what that price is.

  For example:

  mydiscount = 2 // Whatever value you want to set buyprice = (close - mydiscount) if myLongConditionsMet then   BUY 1 CONTRACT at buyprice LIMIT endif

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  mydiscount = 2 // Whatever value you want to set buyprice = (close - mydiscount) if myLongConditionsMet then   BUY 1 CONTRACT at buyprice LIMIT endif

   

   

   

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  11/18/2017 at 10:13 AM #53163
  AutoStrategist

  Correcting myself, should be a STOP order below the current price and a LIMIT order for orders above current price, these instructions are only valid for the current bar:

  Limit and stop orders with specific levels are valid for one bar by default starting at the open of the
  next bar. They are canceled if not executed.

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  11/18/2017 at 10:42 AM #53164
  Abz

  something like this?

  Rs = RSI[50](close) mydiscount = 20*pipsize buyprice = (close - mydiscount) sellprice = (close + mydiscount) Positions = 1 IF not onmarket and RS>50 THEN buy Positions SHARES AT buyprice LIMIT SET STOP ploss 30 SET TARGET pPROFIT 30 ENDIF

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  Rs = RSI[50](close) mydiscount = 20*pipsize buyprice = (close - mydiscount) sellprice = (close + mydiscount) Positions = 1   IF not onmarket and RS>50 THEN buy Positions SHARES AT buyprice LIMIT SET STOP ploss 30 SET TARGET pPROFIT 30 ENDIF

  i cant get it to open any trades with this , is there something im missing out?

  

  Abz

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  11/18/2017 at 11:00 AM #53165
  robertogozzi

  Conditions may have never been met.

  Also, LIMIT orders guarantee that you buy/sell at that very price. In case that price is skipped (in the above example the price may drop from 50 to 49, then 47) your trade will never be opened!

  Roberto

  

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  11/18/2017 at 11:23 AM #53169
  Abz

  dosent have to be that exact price as long as it is the same or below

  

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  11/18/2017 at 11:53 AM #53171
  Despair

  @Roberto: I think what you wrote is not true. A limit orders makes sure that you don´t pay more than your limit (for a buy order) but it can be executed also at lower prices. So the order BUY 1 CONTRACT AT 50 LIMIT will also be executed if price skips 50 when dropping and can be executed for say 48.

  

  Despair

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  11/18/2017 at 12:02 PM #53174
  Abz

  i know for sure that conditions have met in the periode i am testing , but it is not opening any trades, what am i doing wrong?

  

  Abz

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  11/18/2017 at 12:21 PM #53175
  robertogozzi

  You are right Despair, sorry for my mistake.

  I tried your strategy on GbpUsd, 30 minutes, from Nov. 1st through yesterday and it opened two trades as you can see from the attached pics (I had to comment out line 4 since that variable has no references elsewhere).

   

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  11/18/2017 at 1:34 PM #53180
  Vonasi

  I don’t think that you are right AutoStrategist. LIMIT orders are for purchases at a better price than the current one and STOP orders are for purchases at worse prices.

  So for example:

  IF the price is 50 then a LIMIT BUY order would be at 40 and a LIMIT SELL order at 60.

  IF the price is 50 then a STOP BUY would be at 60 and a STOP SELL at 40.

   

  

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  11/18/2017 at 6:40 PM #53194
  AutoStrategist

  Yes I got myself properly confused 🙁

   

  

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  11/18/2017 at 8:44 PM #53201
  Abz

  DEFPARAM CumulateOrders = False // Cumulating positions deactivated DEFPARAM FLATBEFORE = 080000 DEFPARAM FLATAFTER = 170000 // indicators PSAR = SAR[0.02,0.02,0.2] MA = Average[12](close) Will = Williams[18](close) Stoch = Stochastic[24,3](close) Rs = RSI[15](close) c13 = Time < 110000 mydiscount = 20*pipsize buyprice = (close - mydiscount) sellprice = (close + mydiscount) // Conditions to enter Long positions c1 = (close > PSAR) c2 = (close > MA) c3 = Will >= -43 c4 = Stoch >= 58 c5 = Rs <= 55 IF not onmarket AND c13 AND c1 AND c2 AND c3 AND c4 AND c5 THEN Buy 5 SHARES AT buyprice LIMIT ENDIF // Conditions to enter Short positions c6 = (close < PSAR) c7 = (close < MA) c8 = Will <= -53 c9 = Stoch <= 45 c10 = Rs >= 45 IF not onmarket AND c13 AND c6 AND c7 AND c8 AND c9 AND c10 THEN Sellshort 5 SHARES AT sellprice LIMIT ENDIF SET STOP ploss 50 SET TARGET pPROFIT 65

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  DEFPARAM CumulateOrders = False // Cumulating positions deactivated DEFPARAM FLATBEFORE = 080000 DEFPARAM FLATAFTER = 170000   // indicators PSAR = SAR[0.02,0.02,0.2] MA = Average[12](close) Will = Williams[18](close) Stoch = Stochastic[24,3](close) Rs = RSI[15](close) c13 = Time < 110000   mydiscount = 20*pipsize buyprice = (close - mydiscount) sellprice = (close + mydiscount)   // Conditions to enter Long positions c1 = (close > PSAR) c2 = (close > MA) c3 = Will >= -43 c4 = Stoch >= 58 c5 = Rs <= 55   IF not onmarket AND c13 AND c1 AND c2 AND c3 AND c4 AND c5  THEN Buy 5 SHARES AT buyprice LIMIT ENDIF   // Conditions to enter Short positions c6 = (close < PSAR) c7 = (close < MA) c8 = Will <= -53 c9 = Stoch <= 45 c10 = Rs >= 45   IF not onmarket AND c13 AND c6 AND c7 AND c8 AND c9 AND c10 THEN Sellshort 5 SHARES AT sellprice LIMIT ENDIF     SET STOP ploss 50 SET TARGET pPROFIT 65

  the above strategie produce 280 trades  on Crude oil  without the LIMIT order and with LIMIT order i get 2 trades. There must be something i am doing wrong with this limit function

  

  Abz

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  11/20/2017 at 1:28 PM #53298
  Leo

  Abz wrote:

  something like this?

  Rs = RSI[50](close)<br /> mydiscount = 20*pipsize<br /> buyprice = (close – mydiscount)<br /> sellprice = (close + mydiscount)<br /> Positions = 1</p> <p>IF not onmarket and RS>50 THEN<br /> buy Positions SHARES AT buyprice LIMIT<br /> SET STOP ploss 30<br /> SET TARGET pPROFIT 30<br /> ENDIF

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  Rs = RSI[50](close) mydiscount = 20*pipsize buyprice = (close – mydiscount) sellprice = (close + mydiscount) Positions = 1 IF not onmarket and RS>50 THEN buy Positions SHARES AT buyprice LIMIT SET STOP ploss 30 SET TARGET pPROFIT 30 ENDIF

  i cant get it to open any trades with this , is there something im missing out?

  Hi ABZ,

  Your code every time  is placing a Limit order at “mydiscount”  pips below the Close of the canddle… of Course this trade orden never opens  (or almost never).

   

   

   

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