Hi

I’m writing code

to exit the trade if the entry bar is against the trend. I’ve simplified it into a price crosses SMA indicates the trend. Long side only.

So if on entry it is a down bar then the strategy will exit the trade on the open of the next bar.

Here’s the code:

ONCE exitEntryBarDown = 0

IF NOT OnMarket AND open > Average[20](close) THEN
  BUY 1 CONTRACTS AT MARKET
  // Exit if candle OF the entry is against the trade - Market goes down
  IF open > close THEN
    // Market moves down
    exitEntryBarDown = 1
    SELL AT MARKET NextBarOpen
  ENDIF
  // Set the stop
  SELL AT Average[20](close) STOP
ENDIF

IF OnMarket THEN
  SELL AT Average[20](close) STOP
ENDIF

GRAPH exitEntryBarDown as "Exit on Entry bar is down"
GRAPH OnMarket COLOURED (255,0,255) AS "On Market"

exitEntryBarDown = 0

It’s behaving in two unexpected ways:

1. It exits on the open of the bar of entry (not the next bar)
2. It enters a trade even if the open is less than the SMA

See attached image.

Am I misunderstanding something about the code here?

Broker is IG

Market is XAUUSD Spot Gold A1 Contract

Dates in the image are 14th Jan 2016 to 22nd Jan 2016

Screen-Shot-2017-08-18-at-3.39.41-pm.png