Hi I tried to code this strategy https://www.youtube.com/watch?v=PaVIbaTRO7o
I seem to have succesfully done that, but the profit factor is not as good as he claims. It is a “stop and reverse” type strategy
One thing I noticed was that if the profit target was hit, the strategy reenters the position – How can I stop it entering when the stop or profit target is hit. (you can see on 18mar 2020)
I tried to play around with a tradecount below, but not sure. Went into an infinite loop or missed the next trade on 19mar 2020
Set chart to newyork time !
// code-parameter
DEFPARAM CumulateOrders = false
// window high/low calculation
ONCE StartTime = 000000
ONCE EndTime = 040000
// trading window
ONCE BuyTime = 040000
ONCE SellTime = 150000
sl = 150
tp = 470
// calculate high/low and sl/tp
IF Time >= StartTime AND Time <= EndTime THEN
IF TIME = StartTime THEN
DailyHigh = High
DailyLow = Low
ENDIF
IF High > DailyHigh THEN
DailyHigh = High
ENDIF
IF Low < DailyLow THEN
DailyLow = Low
ENDIF
TradeCounterLong = 0
TradeCounterShort = 0
ENDIF
// position management
IF Time >= BuyTime AND Time <= SellTime then//and tradecounterlong <=1 THEN
buy 1 contract at dailyhigh stop
TradeCounterLong = TradeCounterLong + 1
SET STOP pLOSS sl
set target pprofit tp
ENDIF
IF Time >= BuyTime AND Time <= SellTime then //and TradeCounterShort <=1 THEN
sellshort 1 contract at dailylow stop
TradeCounterShort = TradeCounterShort + 1
SET STOP pLOSS sl
set target pprofit tp
ENDIF
Add this at line 6:
ONCE TradeON = 1
add this at lines 40 and 49:
TradeON = 0
add this at line 13:
If IntraDayBarIndex = 0 THEN
TradeON = 1
ENDIF
then add this condition at lines 34 and 43:
AND TradeON = 1
Thanks Roberto, I tried your code but it made the system trade only once per day. It is stop and reverse so can trade twice
I want it not to trade after the stop or profit target gets hit for the remaining time in the day,
I tried to make it like your example with two variables – tradeonShort and tradeonLong ,
So only one long trade and one short per day is taken, which should work, but didn’t seem to work.
Probably because it was carrying positions from overnight, i need to do something like if longonmarket, dont open new buy trades until next day.
This should do, it only allows one LONG and one SHORT trade per day:
// code-parameter
DEFPARAM CumulateOrders = false
// window high/low calculation
ONCE StartTime = 000000
ONCE EndTime = 040000
// trading window
ONCE BuyTime = 040000
ONCE SellTime = 150000
ONCE TradeLONG = 0
ONCE TradeSHORT = 0
IF IntraDayBarIndex = 0 THEN
TradeLONG = 0
TradeSHORT = 0
ENDIF
sl = 150
tp = 470
// calculate high/low and sl/tp
IF Time >= StartTime AND Time <= EndTime THEN
IF TIME = StartTime THEN
DailyHigh = High
DailyLow = Low
ENDIF
IF High > DailyHigh THEN
DailyHigh = High
ENDIF
IF Low < DailyLow THEN
DailyLow = Low
ENDIF
TradeCounterLong = 0
TradeCounterShort = 0
ENDIF
// position management
IF Time >= BuyTime AND Time <= SellTime and not LongOnMarket and TradeLONG = 0 then//and tradecounterlong <=1 THEN
buy 1 contract at dailyhigh stop
TradeCounterLong = TradeCounterLong + 1
SET STOP pLOSS sl
set target pprofit tp
TradeLONG = 1
ENDIF
IF Time >= BuyTime AND Time <= SellTime and not ShortOnMarket and TradeSHORT = 0 then //and TradeCounterShort <=1 THEN
sellshort 1 contract at dailylow stop
TradeCounterShort = TradeCounterShort + 1
SET STOP pLOSS sl
set target pprofit tp
TradeSHORT = 1
ENDIF
Thanks, that didn’t really work either,
I got it
// Open Range Breakout DAX 5/15M
// code-parameter
DEFPARAM CumulateOrders = false
// window high/low calculation
ONCE StartTime = 000000 //000000
ONCE EndTime = 040000 //040000
// trading window
ONCE BuyTime = 040000 //040000
ONCE SellTime = 150000 //150000
sl = 150
tp = 470
// calculate high/low and sl/tp
IF Time >= StartTime AND Time <= EndTime THEN
IF TIME = StartTime THEN
DailyHigh = High
DailyLow = Low
ENDIF
IF High > DailyHigh THEN
DailyHigh = High
ENDIF
IF Low < DailyLow THEN
DailyLow = Low
ENDIF
tradeCounterLong = 0
TradeCounterShort = 0
ENDIF
// position management
IF Time >= BuyTime AND Time <= SellTime and tradecounterlong <=2 and close>close[1] then //and tradecounterlong <=1
// Long and currentdayofweek <5 and DClose(0)>DClose(1)
buy 1 contract at dailyhigh stop
TradeCounterLong = TradeCounterLong + 1
SET STOP pLOSS sl
set target pprofit tp
ENDIF
IF Time >= BuyTime AND Time <= SellTime and tradecountershort <=2 and close<close[1] then
// Long and currentdayofweek <5 and DClose(0)>DClose(1) and tradecountershort <=1
sellshort 1 contract at dailylow stop
TradeCounterShort = TradeCounterShort + 1
SET STOP pLOSS sl
set target pprofit tp
ENDIF
also another version that enters only if closes below the initial 4hr range
(this one the timeframe will affect performance)
// Open Range Breakout DAX 5/15M
// code-parameter
DEFPARAM CumulateOrders = false
// window high/low calculation
ONCE EndTime = 040000 //040000
// trading window
ONCE BuyTime = 040000 //040000
ONCE SellTime = 150000 //150000
sl = 150
tp = 470
// calculate high/low and sl/tp
IF Time = EndTime THEN
DailyHigh = highest[4](high)
DailyLow = lowest[4](low)
tradeCounterLong = 0
TradeCounterShort = 0
ENDIF
// position management
IF Time >= BuyTime AND Time <= SellTime and tradecounterlong <=1 and close> dailyhigh then //and tradecounterlong <=1
// Long and currentdayofweek <5 and DClose(0)>DClose(1)
buy 1 contract at market
TradeCounterLong = TradeCounterLong + 1
SET STOP pLOSS sl
set target pprofit tp
ENDIF
IF Time >= BuyTime AND Time <= SellTime and tradecountershort <=1 and close<dailylow then
// Long and currentdayofweek <5 and DClose(0)>DClose(1) and tradecountershort <=1
sellshort 1 contract at market
TradeCounterShort = TradeCounterShort + 1
SET STOP pLOSS sl
set target pprofit tp
ENDIF
If you use 1hr chart set
DailyHigh = highest[4](high)
DailyLow = lowest[4](low)
15min
DailyHigh = highest[16](high)
DailyLow = lowest[16](low)
is best
and close>close[1] can be taken out on the first system, was just testing
Also try chicago or new york time different results (or just change code 1hr different) chicago seems better
