Exit Strategy

Steveaw · 2020-05-30T13:59:43+00:00

Hi Guys I’m looking to develop a code that will log the entry time a trade enters then uses that entry time to scan for a reversal and then exit. The sequence would be: Trade meets entry conditions and trade is entered (in this example short) Time trade enters becomes a reference point Code then scans back to the reference point (Entry time) to look to exit conditions Trade closes when 3 consecutive higher highs occur (When going short) after reference point (Note scan does not include anytime prior to entry) AND trade is in profit Trade re-enters if price retraces back to original entry price and the exit conditions reset. I’ve attached a diagram to help explain. I would be grateful for any help on this? Kind regards Steve

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05/30/2020 at 2:59 PM #133896 quote
Steveaw
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Hi Guys I’m looking to develop a code that will log the entry time a trade enters then uses that entry time to scan for a reversal and then exit. The sequence would be:
1. Trade meets entry conditions and trade is entered (in this example short)
2. Time trade enters becomes a reference point
3. Code then scans back to the reference point (Entry time) to look to exit conditions
4. Trade closes when 3 consecutive higher highs occur (When going short) after reference point (Note scan does not include anytime prior to entry) AND trade is in profit
5. Trade re-enters if price retraces back to original entry price and the exit conditions reset.
I’ve attached a diagram to help explain.

I would be grateful for any help on this?

Kind regards

Steve

Screenshot-2020-05-30-at-14.58.39.png
05/31/2020 at 11:11 AM #133947 quote

Steveaw
Participant

Average

Thanks,

I had thought of the BBC codes but they have the timeframe entered already, I’m wanting to set the time from when a trade opens at the start reference point.

06/02/2020 at 9:13 AM #134153 quote
Nicolas
Keymaster

Legend
Not tested, but you can try with the below code (forum coding):
```
if not shortonmarket and sellcondition then //condition to open your sellshort order 
 sellshort at market 
 count = 0 //reset high count 
endif 

if shortonmarket then 
 if high>high[1] then //increase highest high count 
  count=count+1
 endif 
 if count>=3 then 
  exitshort at market //exit order if highest high is >= 3 
 endif 
else // not on market anymore 
 sellshort at tradeprice limit // put a pending limit order at the previous order entry 
endif
```
06/02/2020 at 11:45 AM #134187 quote

Steveaw
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Average

Thanks Nicolas, I’ll give this a go and see how we get on. Will let you know.

Thanks again

Steve
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