Exiting with ATR

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

    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

     

    Is that Possible?

    Thanks

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

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

    Thanks Vonasi!

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Exiting with ATR


ProOrder: Automated Strategies & Backtesting

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assafn @assafn Participant
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This topic contains 2 replies,
has 2 voices, and was last updated by assafn
4 years, 11 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 03/16/2021
Status: Active
Attachments: No files
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