Inquiry coding inside bar momentum strategy

• 08/22/2021 at 12:35 PM #175909
  phoentzs

  Hello, I have a request to code the Inside Bar Momentum strategy of baby pips. The following link contains the exact rules. Can someone code that for me, please?

  https://www.babypips.com/trading/new-forex-system-inside-bar-momentum-strategy

  

  phoentzs

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  08/22/2021 at 5:33 PM #175930
  robertogozzi

  There you go (not tested, though):

  Once EntryL = 0 Once EntryS = 0 Bullish = close > open Bearish = close < open Inside = (high <= high[1]) and (low >= low[1]) and (range < range[1]) //Inside = (high < high[1]) and (low > low[1]) If Inside then EntryL = high[1] + (range * 0.1) EntryS = low[1] - (range * 0.1) slL = abs(EntryL - (high[1] - (range * 0.2))) slS = abs(EntryS - (low[1] + (range * 0.2))) tpL = abs(EntryL - (high[1] + (range * 0.8))) tpS = abs(EntryS - (low[1] - (range * 0.8))) Endif If Not OnMarket And EntryL Then Buy 1 contract at EntryL STOP Sellshort 1 contract at EntryS STOP // initially set a unique SL & TP to // the max of the two Set Target Profit max(tpL,tpS) Set Stop Loss max(slL,slS) Else // set real SL and TP after first bar on market If ShortOnMarket then Set Target Profit tpS Set Stop Loss slS Else Set Target Profit tpL Set Stop Loss slL Endif EntryL = 0 EntryS = 0 // close if another INSIDE bar shows If Inside then SELLSHORT at Market SELL at Market Endif Endif

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  Once EntryL = 0 Once EntryS = 0 Bullish =  close > open Bearish = close < open Inside   = (high <= high[1]) and (low >= low[1]) and (range < range[1]) //Inside   = (high < high[1]) and (low > low[1]) If Inside then    EntryL = high[1] + (range * 0.1)    EntryS = low[1]   - (range * 0.1)    slL     = abs(EntryL - (high[1] - (range * 0.2)))    slS     = abs(EntryS - (low[1] + (range * 0.2)))    tpL    = abs(EntryL - (high[1] + (range * 0.8)))    tpS    = abs(EntryS - (low[1]  - (range * 0.8))) Endif If Not OnMarket And EntryL Then    Buy 1 contract at EntryL STOP    Sellshort 1 contract at EntryS STOP    // initially set a unique SL & TP to    // the max of the two    Set Target Profit max(tpL,tpS)    Set Stop   Loss  max(slL,slS) Else    // set real SL and TP after first bar on market    If ShortOnMarket then       Set Target Profit tpS       Set Stop   Loss   slS    Else       Set Target Profit tpL       Set Stop   Loss   slL    Endif    EntryL = 0    EntryS = 0    // close if another INSIDE bar shows    If Inside then       SELLSHORT at Market       SELL      at Market    Endif Endif

   

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  robertogozzi

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  08/22/2021 at 5:51 PM #175931
  robertogozzi

  I coded  two different ways to define an INSIDE bar.

  Line 5 (which I used) requires than only one among prior Low and High be greater/lower, the other one can be EQUAL.

  Line 6 (commented) requires that BOTH prior High and Low be greater/lower.

  You can uncomment line 6 and comment out line 5, if preferred.

   

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  robertogozzi

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  08/22/2021 at 7:17 PM #175939
  phoentzs

  That’s very good. Thanks! This is exactly what I imagined. Of course, when I start it in an H4 timeframe, I don’t have a TP or SL for 4 hours which can be fatal at times. Can I also use these terms as an MTF? H4 in M1? Then I would have a maximum of 1 minute in the M1 timeframe without SL and TP.

  

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  08/22/2021 at 8:54 PM #175955
  robertogozzi

  You HAVE a TP & SL, though it can be slightly higher and will be updated the next bar.

   

  

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  08/22/2021 at 10:53 PM #175964
  phoentzs

  Oh, thank you for the hint.

  

  phoentzs

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  08/23/2021 at 3:51 PM #175996
  phoentzs

  On the one hand, the instructions “bullish” and “bearish” must still be included in the input conditions. Nonetheless, this type of system seems to work quite well in manual trading, but not really functional as an algo. At least I haven’t gotten it profitable until now. Not even with MTF. I think range breakouts are easier to automate than individual candles. At least not with stop orders. Unless someone has another idea?

  

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  08/23/2021 at 4:47 PM #176005
  robertogozzi

  I usually add them, as they are no more returned as an error (like it was in v10.3). You can safely remove lines 3-4.

   

   

  

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  08/23/2021 at 5:12 PM #176008
  phoentzs

  Did you have a positive result in your backtest?

  

  phoentzs

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  08/23/2021 at 6:35 PM #176016
  robertogozzi

  No, not good results.

  I tried changing some lines.

  Lines 10-11 to set the SL to the previous LOW/HIGH:

  slL = abs(EntryL - (low[1] - (range * 0.2))) slS = abs(EntryS - (high[1] + (range * 0.2)))

  1 2	slL    = abs(EntryL - (low[1]  - (range * 0.2))) slS    = abs(EntryS - (high[1] + (range * 0.2)))

  Lines 12-13 to set a TP as a factor of SL:

  tpL = slL * 3//abs(EntryL - (high[1] + (range * 0.8))) tpS = slS * 3//abs(EntryS - (low[1] - (range * 0.8)))

  1 2	tpL    = slL * 3//abs(EntryL - (high[1] + (range * 0.8))) tpS    = slS * 3//abs(EntryS - (low[1]  - (range * 0.8)))

  and commented out lines 35-36, so that the strategy doesn’t exit on a subsequent INSIDE bar.

  Positive results (without a trailing stop) a Daily TF (200K units and 2-pip spread, I did not change it each time) are best on AudJpy, AudNzd, AudUsd, CadJpy, EurAud, EurUsd, GbpJpy, GbpUsd, Italy 40, NzdJpy and UsdChf.

  Once EntryL = 0 Once EntryS = 0 //Bullish = close > open //Bearish = close < open Inside = (high <= high[1]) and (low >= low[1]) and (range < range[1]) //Inside = (high < high[1]) and (low > low[1]) If Inside then EntryL = high[1] + (range * 0.1) EntryS = low[1] - (range * 0.1) slL = abs(EntryL - (low[1] - (range * 0.2))) slS = abs(EntryS - (high[1] + (range * 0.2))) tpL = slL * 3//abs(EntryL - (high[1] + (range * 0.8))) tpS = slS * 3//abs(EntryS - (low[1] - (range * 0.8))) Endif If Not OnMarket And EntryL Then Buy 1 contract at EntryL STOP Sellshort 1 contract at EntryS STOP // initially set a unique SL & TP to // the max of the two Set Target Profit max(tpL,tpS) Set Stop Loss max(slL,slS) Else // set real SL and TP after first bar on market If ShortOnMarket then Set Target Profit tpS Set Stop Loss slS Else Set Target Profit tpL Set Stop Loss slL Endif EntryL = 0 EntryS = 0 // close if another INSIDE bar shows If Inside then //SELLSHORT at Market //SELL at Market Endif Endif

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  Once EntryL = 0 Once EntryS = 0 //Bullish   = close > open //Bearish   = close < open Inside  = (high <= high[1]) and (low >= low[1]) and (range < range[1]) //Inside   = (high < high[1]) and (low > low[1]) If Inside then EntryL = high[1] + (range * 0.1) EntryS = low[1]  - (range * 0.1) slL    = abs(EntryL - (low[1]  - (range * 0.2))) slS    = abs(EntryS - (high[1] + (range * 0.2))) tpL    = slL * 3//abs(EntryL - (high[1] + (range * 0.8))) tpS    = slS * 3//abs(EntryS - (low[1]  - (range * 0.8))) Endif If Not OnMarket And EntryL Then Buy       1 contract at EntryL STOP Sellshort 1 contract at EntryS STOP // initially set a unique SL & TP to // the max of the two Set Target Profit max(tpL,tpS) Set Stop   Loss  max(slL,slS) Else // set real SL and TP after first bar on market If ShortOnMarket then Set Target Profit tpS Set Stop   Loss   slS Else Set Target Profit tpL Set Stop   Loss   slL Endif EntryL = 0 EntryS = 0 // close if another INSIDE bar shows If Inside then //SELLSHORT at Market //SELL      at Market Endif Endif

   

   

   

   

  

  robertogozzi

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  08/23/2021 at 6:43 PM #176017
  robertogozzi

  Adding this trailing stop improved results slightly:

  //********************************************************************************* // https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/ // (righe 17- 56) with the addition of DISTANCE // //trailing stop function IF (BarIndex - TradeIndex) >= 0 THEN //0 trailingstart = 40 //40 trailing will start @trailinstart points profit trailingstep = 10 //10 trailing step to move the "stoploss" distance = 10 //10 pips distance from caurrent price (if required by the broker) //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart*pipsize THEN newSL = tradeprice(1)+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN newSL = newSL+trailingstep*pipsize ENDIF ENDIF //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN newSL = tradeprice(1)-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN newSL = newSL-trailingstep*pipsize ENDIF ENDIF //stop order to exit the positions IF newSL>0 THEN IF LongOnMarket THEN IF (close + distance) > newSL THEN SELL AT newSL STOP ELSIF (close - distance) < newSL THEN SELL AT newSL LIMIT ELSE SELL AT Market ENDIF ELSIF ShortOnmarket THEN IF (close + distance) < newSL THEN EXITSHORT AT newSL STOP ELSIF (close - distance) > newSL THEN EXITSHORT AT newSL LIMIT ELSE EXITSHORT AT Market ENDIF ENDIF ENDIF ENDIF //*********************************************************************************

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  //********************************************************************************* // https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/ // (righe 17- 56) with the addition of DISTANCE // //trailing stop function IF (BarIndex - TradeIndex) >= 0 THEN                                 //0 trailingstart = 40   //40 trailing will start @trailinstart points profit trailingstep  = 10   //10 trailing step to move the "stoploss" distance      = 10   //10 pips distance from caurrent price (if required by the broker) //reset the stoploss value IF NOT ONMARKET THEN newSL=0 ENDIF   //manage long positions IF LONGONMARKET THEN //first move (breakeven) IF newSL=0 AND close-tradeprice(1)>=trailingstart*pipsize THEN newSL = tradeprice(1)+trailingstep*pipsize ENDIF //next moves IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN newSL = newSL+trailingstep*pipsize ENDIF ENDIF   //manage short positions IF SHORTONMARKET THEN //first move (breakeven) IF newSL=0 AND tradeprice(1)-close>=trailingstart*pipsize THEN newSL = tradeprice(1)-trailingstep*pipsize ENDIF //next moves IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN newSL = newSL-trailingstep*pipsize ENDIF ENDIF   //stop order to exit the positions IF newSL>0 THEN IF LongOnMarket THEN IF (close + distance) > newSL THEN SELL AT newSL STOP ELSIF (close - distance) < newSL THEN SELL AT newSL LIMIT ELSE SELL AT Market ENDIF ELSIF ShortOnmarket THEN IF (close + distance) < newSL THEN EXITSHORT AT newSL STOP ELSIF (close - distance) > newSL THEN EXITSHORT AT newSL LIMIT ELSE EXITSHORT AT Market ENDIF ENDIF ENDIF ENDIF //*********************************************************************************

  

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  08/23/2021 at 6:51 PM #176019
  phoentzs

  Thanks very much. I’ll have a look at myself tonight.

  

  phoentzs

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  09/09/2021 at 11:26 AM #177129
  GraHal

  Using the code on the link below, I am getting rejected loads for being too close / less than IG minimum etc.

  https://www.prorealcode.com/topic/inquiry-coding-inside-bar-momentum-strategy/#post-175930

  What can I add so the code is not rejcted please?

  PS

  I even ticked the Guaranteed box and the IG can move stops box but it made no difference … still got rejected for beng too close to price etc

  

  GraHal

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  09/09/2021 at 11:58 AM #177133
  robertogozzi

  You have to check, each time a pending order is to be placed, whether its entry price sits within the rquired distance from the current price (CLOSE).
  I have added DISTANCE, as first line, to which you want to assign the distance (in Pips) required by IG for the traded instrument/asset:

  Once Distance = 10 * PipSize Once EntryL = 0 Once EntryS = 0 Bullish = close > open Bearish = close < open Inside = (high <= high[1]) and (low >= low[1]) and (range < range[1]) //Inside = (high < high[1]) and (low > low[1]) If Inside then EntryL = high[1] + (range * 0.1) EntryS = low[1] - (range * 0.1) slL = abs(EntryL - (high[1] - (range * 0.2))) slS = abs(EntryS - (low[1] + (range * 0.2))) tpL = abs(EntryL - (high[1] + (range * 0.8))) tpS = abs(EntryS - (low[1] - (range * 0.8))) Endif If Not OnMarket And EntryL Then // LONG entry IF close > (EntryL + Distance) THEN Buy 1 contract at EntryL LIMIT ELSIF close < (EntryL - Distance) THEN Buy 1 contract at EntryL STOP ELSE Buy 1 contract at Market ENDIF // SHORT entry IF close > (EntryS + Distance) THEN Sellshort 1 contract at EntryS STOP ELSIF close < (EntryS - Distance) THEN Sellshort 1 contract at EntryS LIMIT ELSE Sellshort 1 contract at Market ENDIF // initially set a unique SL & TP to // the max of the two Set Target Profit max(tpL,tpS) Set Stop Loss max(slL,slS) Else // set real SL and TP after first bar on market If ShortOnMarket then Set Target Profit tpS Set Stop Loss slS Else Set Target Profit tpL Set Stop Loss slL Endif EntryL = 0 EntryS = 0 // close if another INSIDE bar shows If Inside then SELLSHORT at Market SELL at Market Endif Endif

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  Once Distance = 10 * PipSize Once EntryL   = 0 Once EntryS   = 0 Bullish       =  close > open Bearish       = close < open Inside        = (high <= high[1]) and (low >= low[1]) and (range < range[1]) //Inside      = (high < high[1]) and (low > low[1]) If Inside then EntryL = high[1] + (range * 0.1) EntryS = low[1]   - (range * 0.1) slL     = abs(EntryL - (high[1] - (range * 0.2))) slS     = abs(EntryS - (low[1] + (range * 0.2))) tpL    = abs(EntryL - (high[1] + (range * 0.8))) tpS    = abs(EntryS - (low[1]  - (range * 0.8))) Endif If Not OnMarket And EntryL Then // LONG  entry IF close > (EntryL + Distance) THEN Buy 1 contract at EntryL LIMIT ELSIF close < (EntryL - Distance) THEN Buy 1 contract at EntryL STOP ELSE Buy 1 contract at Market ENDIF // SHORT entry IF close > (EntryS + Distance) THEN Sellshort 1 contract at EntryS STOP ELSIF close < (EntryS - Distance) THEN Sellshort 1 contract at EntryS LIMIT ELSE Sellshort 1 contract at Market ENDIF // initially set a unique SL & TP to // the max of the two Set Target Profit max(tpL,tpS) Set Stop   Loss  max(slL,slS) Else // set real SL and TP after first bar on market If ShortOnMarket then Set Target Profit tpS Set Stop   Loss   slS Else Set Target Profit tpL Set Stop   Loss   slL Endif EntryL = 0 EntryS = 0 // close if another INSIDE bar shows If Inside then SELLSHORT at Market SELL      at Market Endif Endif

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  robertogozzi

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  09/09/2021 at 12:01 PM #177134
  robertogozzi

  If you don’t want to enter at market because you may refer to wait longer for the proper conditions for a pending order, simply comment out lines 23 and 31.

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