Help with simple breakout system multi timeframe

• 09/13/2019 at 8:15 PM #107508
  Thally

  Hi all,

  Im having some issues with a simple breakout system Im trying to code. The system works across 2 timeframes. We mark out the range of a 3 bar triangle on the daily and then trade the breakout on the H1.

  Ive written the code which marks out the range and that seems to work nicely using the graphonprice function. However, the system fails to buy/sell every close above/below the range.

  Can anyone spot what I’m doing wrong here?

  Thanks in advance

  Thally

  // Cumulating positions deactivated DEFPARAM CumulateOrders = False // money management ONCE Capital = 5000 ONCE Risk = 0.01 equity = Capital + StrategyProfit maxrisk = round(equity*Risk) // 3 bar triangle timeframe(daily, updateonclose) // Skip Sundays IF OpenDayOfWeek = 0 THEN myHigh = High[1] //store friday high if Sunday ELSE myHigh = High //else we store high ENDIF IF OpenDayOfWeek = 0 THEN myLow = Low[1] //store friday high if Sunday ELSE myLow = Low //else we store high ENDIF // Mark out triangle IF myHigh < myHigh[2] and myLow > myLow[2] THEN BOhigh = myHigh BOlow = myLow ENDIF graphonprice BOhigh COLOURED(100,149,237) AS "BOhigh" graphonprice BOlow COLOURED(100,149,237) AS "BOlow" timeframe(default) // Stoploss and position size StopLossL = abs(close - LOWEST[16](low)) PositionSizeL = abs(round((maxrisk/StopLossL)/PointValue)*pipsize) StopLossS = abs(close - HIGHEST[16](high)) PositionSizeS = abs(round((maxrisk/StopLossS)/PointValue)*pipsize) // Long IF Not ONMARKET AND close > BOhigh AND close[1] < BOhigh THEN BUY PositionSizeL PERPOINT AT MARKET SET STOP LOSS StopLossL ENDIF // short IF Not ONMARKET AND close < BOlow AND close[1] > BOlow THEN SELLSHORT PositionSizeS PERPOINT AT MARKET SET STOP LOSS StopLossS ENDIF

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  // Cumulating positions deactivated DEFPARAM CumulateOrders = False // money management ONCE Capital = 5000 ONCE Risk = 0.01 equity = Capital + StrategyProfit maxrisk = round(equity*Risk)   // 3 bar triangle timeframe(daily, updateonclose)   // Skip Sundays IF OpenDayOfWeek = 0 THEN myHigh = High[1] //store friday high if Sunday ELSE myHigh = High //else we store high ENDIF   IF OpenDayOfWeek = 0 THEN myLow = Low[1] //store friday high if Sunday ELSE myLow = Low //else we store high ENDIF   // Mark out triangle IF myHigh < myHigh[2] and myLow > myLow[2] THEN BOhigh = myHigh BOlow = myLow ENDIF   graphonprice BOhigh COLOURED(100,149,237) AS "BOhigh" graphonprice BOlow COLOURED(100,149,237) AS "BOlow"   timeframe(default)   // Stoploss and position size StopLossL = abs(close - LOWEST[16](low)) PositionSizeL = abs(round((maxrisk/StopLossL)/PointValue)*pipsize) StopLossS = abs(close - HIGHEST[16](high)) PositionSizeS = abs(round((maxrisk/StopLossS)/PointValue)*pipsize)   // Long IF Not ONMARKET AND close > BOhigh AND close[1] < BOhigh THEN BUY PositionSizeL PERPOINT AT MARKET SET STOP LOSS StopLossL ENDIF   // short IF Not ONMARKET AND close < BOlow AND close[1] > BOlow  THEN SELLSHORT PositionSizeS PERPOINT AT MARKET SET STOP LOSS StopLossS ENDIF

   

   

   

  

  Thally

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  09/13/2019 at 8:35 PM #107510
  Thally

  Even if I just stick to the daily timeframe rather than dropping down to H1, its still not taking trades as it should. See how it only takes one break of the blue lines when it should take each one unless already in a trade.

   

  

  Thally

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  09/13/2019 at 9:25 PM #107513
  Thally

  Folks sorry for wasting your time. The issue was with the position size function and the starting capital. The rest of the logic works fine.

  

  Thally

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  09/13/2019 at 11:13 PM #107519
  GraHal

  I’m please you have sorted it @Thally ,,, you can sleep better tonight also! 🙂

  

  GraHal

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  09/14/2019 at 10:57 AM #107531
  Thally

  Cheers mate. Worth having a play with the indicator, it does a nice job of marking out areas of consolidation before expansion. Have good weekend.

  

  Thally

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