Exiting with ATR

• 03/16/2021 at 11:26 AM #164319
  assafn

  Hello,

  I need help with creating a code that exits a trade 2 ATR’s above entry price:

  ex.

  if close>high[1] then buy 10000 cash at market

  1 2	if close>high[1] then buy 10000 cash at market

   

  Is that Possible?

  Thanks

  

  assafn

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  03/16/2021 at 11:51 AM #164325
  Vonasi

  When you place your buy order you can not know the entry price you will get so we have to assume it is the same as the close price. Once we are ‘onmarket’ we can adjust the exit price based on our actual entry price as we now know it.

  We use pending limit orders to exit at the better price.

  p = 10 //ATR period if not onmarket and close>high[1] then buy 1 contract at market myatr = averagetruerange[p](close)*2 tp = close + myatr sell at tp limit endif if onmarket then tp = positionprice + myatr sell at tp limit endif

  1 2 3 4 5 6 7 8 9 10 11 12 13

  p = 10 //ATR period   if not onmarket and close>high[1] then buy 1 contract at market myatr = averagetruerange[p](close)*2 tp = close + myatr sell at tp limit endif   if onmarket then tp = positionprice + myatr sell at tp limit endif

   

  

  Vonasi

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  03/16/2021 at 12:13 PM #164330
  assafn

  Thanks Vonasi!

  

  assafn

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