I am new to PRorealtime. Thank you GURU’s for reading the topic.
I am trying to build a code where in when MACD crossover happens with 26 & 52 period EMA.
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// Conditions to enter long positions
defparamCUMULATEORDERS=false
//macdline
c2=MACDline[26,52,12](close)
//signalline
c3=ExponentialAverage[12](c2)
//histogram heigt
histbar=c2–c3
c5=histbarcrosses over0
c6=histbarcrosses under0
IFNOTLongOnMarketANDc5THEN
BUY1CONTRACTSATMARKET
sl=lowest[3](low)
set stoplosssl
tgt=(POSITIONPRICE–SL)*1.5
set target$profittgt
ENDIF
// Conditions to exit long positions
// Conditions to enter short positions
IFNOTShortOnMarketANDc6THEN
SELLSHORT1CONTRACTSATMARKET
sl=highest[3](high)
set stoplosssl
tgt=(sl–POSITIONPRICE)*1.5
set target$profittgt
ENDIF
The above code is not setting up the Stop loss & targets. The stop loss should be lowest of last three candles when going long & highest when shorting.
Also i notice that order is place after 2 candles are formed delaying the entry of the order.