Is it possible to buy at open?

• 11/29/2018 at 4:29 PM #86011
  Harrys

  Im wondering if there is a way to buy/sell exactly at the open on a lower timeframe strategy.

  The following code works at backtest but not when running demo.

   

  /------------------------------------------------------------------------- // Main code : buyopen Dow 5min //------------------------------------------------------------------------- DEFPARAM Cumulateorders = False DEFPARAM flatafter = 160000 TIMEFRAME(5 minutes, default) buytime = currenttime > 152600 and currenttime < 153400 size = 1 If buytime THEN Buy size contracts at market ENDIF

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  /------------------------------------------------------------------------- // Main code : buyopen Dow 5min //------------------------------------------------------------------------- DEFPARAM Cumulateorders = False DEFPARAM flatafter  = 160000           TIMEFRAME(5 minutes, default)       buytime = currenttime > 152600 and currenttime < 153400     size = 1         If buytime THEN Buy size contracts at market ENDIF

   

  

  Harrys

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  11/29/2018 at 4:58 PM #86014
  Vonasi

  On a 5 minute chart if you want to buy at 1530 then just write:

  if time = 153000 then buy 1 contract at market endif

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  if time = 153000 then buy 1 contract at market endif

  Does it buy in demo at a different time if so maybe it is your chart time settings?

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  Harrys

  

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  11/29/2018 at 7:40 PM #86038
  Harrys

  Thank you for your answer!

  I want to execute an order at exactly the open. But i want one parameter to be where the open is. For example over or below ma200.

  The code below works in backtest but i fear that it will execute first 1 candle after the open. Guess il have to see tomorrow.

   

   

  DEFPARAM PRELOADBARS = 1000 DEFPARAM Cumulateorders = False DEFPARAM flatafter = 160000 timeframe(daily) ma200=average[200] TIMEFRAME(5 minutes, default) if time = 153000 and open[0]>ma200 then buy 1 contract at market endif

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  DEFPARAM PRELOADBARS = 1000 DEFPARAM Cumulateorders = False DEFPARAM flatafter  = 160000 timeframe(daily)   ma200=average[200]     TIMEFRAME(5 minutes, default)     if time = 153000 and open[0]>ma200 then buy 1 contract at market endif

   

  

  Harrys

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  11/29/2018 at 7:55 PM #86039
  Vonasi

  All decisions are made by any code at the close of a candle. So on your 5 minute chart the candle that opens at 1525 and closes at 1530 is the one you want to use. That candle has a TIME = 153000 and an OPENTIME = 152500.

  So if you use OPEN[0] < AVERAGE[200] then it will be the opening price at 1525 that is used for the comparison. You cannot use the opening price of the next candle as all decisions are made at the close of a candle. This is only an issue in markets where there is a big gap between the close of the 1525 candle and the open of the 1530 candle.

  I hope this makes things clearer!

  Note: Also if you are not using MTF then you do not need to put the TIMEFRAME command in your code. just launch it on 5 min time frame and it will make decisions based on this.

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  11/30/2018 at 9:19 AM #86059
  Harrys

  So tried the code on the dax open now and it didnt execute, still works on backtests. Im using custom timezone UTC +01:00 with custom trading hours 09:00:00-17:30:00

  im guessing that i have to change the custom time to 08:55:00 for it to work.  since the open[0]>ma200 is outside the timezones

  DEFPARAM PRELOADBARS = 1000 DEFPARAM Cumulateorders = False DEFPARAM flatafter = 173000 timeframe(daily) ma200=average[200] TIMEFRAME(5 minutes, default) if time = 090000 and open[0]>ma200 then buy 1 contract at market endif if time = 090000 and open[0]<ma200 then sellshort 1 contract at market endif set stop ploss 50 set target pprofit 50

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  DEFPARAM PRELOADBARS = 1000 DEFPARAM Cumulateorders = False DEFPARAM flatafter  = 173000 timeframe(daily)   ma200=average[200]     TIMEFRAME(5 minutes, default)     if time = 090000 and open[0]>ma200 then buy 1 contract at market endif     if time = 090000 and open[0]<ma200 then sellshort 1 contract at market endif   set stop ploss 50 set target pprofit 50

   

  

  Harrys

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  11/30/2018 at 10:26 AM #86062
  Vonasi

  I don’t use any custom hours as it just adds an extra level of confusion in my mind so I just use my memory to know when markets open and close on a UTC0000 chart so I have to guess that you are right about needing a 0855 candle as if you have set the chart to display from 0900 onwards then you have eliminated your decision candle which opens at 0855 and closes at 0900.

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