Enter position only once for a level

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    Posts
  • 05/04/2024 at 9:50 AM #232319 quote
    ashehzi
    Participant
    Average

    Hi,

    I want to trade a level only once and do not want to enter the trade same level twice. But below code isn’t working:

    RTHoperate = (TIME > 142000 AND TIME < 203000) // GMT+1

    if time < 143000 then
    spread = 2
    else
    spread = 1
    endif

    MyLongPrice = round(max(myBarLower, myBarUpper))
    distance = abs(myBarHigh – myBarLow)

    if NOT ONMARKET and RTHoperate and close > MyLongPrice then  and (MyLongPrice <> tradeprice[1]) then

    SET STOP PLOSS distance + spread
    set target pprofit distance*20
    endif

    Above code (if no market …) keep rentering the same location.

    2nd question: If i want to go long using the same myLongPrice twice, what protection I can put in the code?

    Regards

    Ash

    05/05/2024 at 4:37 PM #232345 quote
    robertogozzi
    Moderator
    Master

    You can use the previous entry price exactly, but the two prices are unlikely to be identical, even to the decimal point!
    This example divides the price by 100 (but you can change it to 50 or 10, etc…), in this way it is easy for the price of the new entry to be in the same range as the previous one and therefore the entry is not made:

    DEFPARAM CUMULATEORDERS = False

ONCE myDivisor  = 100
ONCE EntryLevel = 0

myLONGconditions  = close CROSSES OVER  Average[20,0](close)
mySHORTconditions = close CROSSES UNDER Average[20,0](close)

CurrentLevel = round(close / myDivisor,0)

IF Not OnMarket AND CurrentLevel <> EntryLevel THEN
   IF myLONGconditions THEN
      BUY 1 Contract AT MARKET
      EntryLevel = round(close / myDivisor,0)
   ELSIF mySHORTconditions THEN
      SELLSHORT 1 Contract AT MARKET
      EntryLevel = round(close / myDivisor,0)
   ENDIF
ENDIF
SET STOP   pLOSS   100
SET TARGET pPROFIT 200
graphonprice CurrentLevel * myDivisor coloured("Blue")
graph myLONGconditions  coloured("Blue")
graph mySHORTconditions coloured("Red")
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Enter position only once for a level


ProOrder: Automated Strategies & Backtesting

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ashehzi @ashehzi Participant
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This topic contains 1 reply,
has 2 voices, and was last updated by robertogozzi
1 year, 9 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 05/04/2024
Status: Active
Attachments: No files
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