Not Entering a new short

• 01/25/2022 at 5:11 PM #186610
  15482847

  Good evening,

  I have set up my code to enter a long trade every time a 4hour candle closes green. At the end of the next 4h candle the trade should close and a new trade should be entered based on the same rules.

  If the 4h candle closes red it should enter a short.

  Currently all works fine except if a short trade is open, once the candle ends, the trade closes BUT a new trade is not entered. It does perfectly work with a long, just not a short.

  Could anyone please have a look at my code and let me know why this is happening? I would greatly appreciate it!

  Kind regards,

  Anton

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated ONCE SL = 300 ONCE Capital = 20000 ONCE Risk = 0.10 equity = Capital + StrategyProfit maxrisk = round(equity*Risk) //PositionSize = abs(round((maxrisk/SL)/2)) PositionSize = 5 SET STOP pLOSS SL // Conditions to enter long positions c1 = (close >= close[1]) IF c1 THEN BUY PositionSize CONTRACT AT MARKET ENDIF // Conditions to exit long positions IF Longonmarket then IF open<close Then SELL AT MARKET ENDIF ENDIF // Conditions to enter short positions c3 = (close < close[1]) IF c3 THEN SELLSHORT PositionSize CONTRACT AT MARKET ENDIF // Conditions to exit short positions IF Shortonmarket then IF open>close Then ExitShort AT MARKET ENDIF ENDIF

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated   ONCE SL = 300 ONCE Capital = 20000 ONCE Risk = 0.10 equity = Capital + StrategyProfit maxrisk = round(equity*Risk)   //PositionSize = abs(round((maxrisk/SL)/2)) PositionSize = 5 SET STOP pLOSS SL     // Conditions to enter long positions c1 = (close >= close[1])   IF c1 THEN BUY PositionSize CONTRACT AT MARKET ENDIF   // Conditions to exit long positions     IF Longonmarket then IF open<close Then SELL AT MARKET ENDIF ENDIF     // Conditions to enter short positions c3 = (close < close[1])   IF c3 THEN SELLSHORT PositionSize CONTRACT AT MARKET ENDIF   // Conditions to exit short positions IF Shortonmarket then IF open>close Then ExitShort AT MARKET ENDIF ENDIF

   

   

   

  

  15482847

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  02/15/2022 at 6:34 PM #188318
  robertogozzi

  Actually you are not trying to detect GREEN (close > open) and RED (close < open) candlesticks, rather those closing higher than the previous one (it could be a RED candle that opened in a gap, then closed still higher than the previous one, or the other way round).

  Anyway, the code seems to work as expected. Keep in mind that it takes a whole bar for the strategy to be aware of a new status (from OnMarket to Not OnMarket and viceversa, just like LongOnMarket and ShortOnMarket with their NOT counterpart).

  This version simply does a Stop & Reverse, thus not waiting for a NOT OnMarket condition. Try if that is what you are looking for:

  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated ONCE SL = 300 ONCE Capital = 20000 ONCE Risk = 0.10 equity = Capital + StrategyProfit maxrisk = round(equity*Risk) //PositionSize = abs(round((maxrisk/SL)/2)) PositionSize = 5 SET STOP pLOSS SL // Conditions to enter long positions c1 = (close >= close[1]) IF c1 THEN BUY PositionSize CONTRACT AT MARKET ENDIF // Conditions to exit long positions //IF Longonmarket then //IF open<close Then //SELL AT MARKET //ENDIF //ENDIF // Conditions to enter short positions c3 = (close < close[1]) IF c3 THEN SELLSHORT PositionSize CONTRACT AT MARKET ENDIF // Conditions to exit short positions //IF Shortonmarket then //IF open>close Then //ExitShort AT MARKET //ENDIF //ENDIF //graph c1 coloured(0,128,0,155) //graph c3 coloured(255,0,0,255)

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  // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated ONCE SL = 300 ONCE Capital = 20000 ONCE Risk = 0.10 equity = Capital + StrategyProfit maxrisk = round(equity*Risk) //PositionSize = abs(round((maxrisk/SL)/2)) PositionSize = 5 SET STOP pLOSS SL // Conditions to enter long positions c1 = (close >= close[1]) IF c1 THEN BUY PositionSize CONTRACT AT MARKET ENDIF // Conditions to exit long positions //IF Longonmarket then //IF open<close Then //SELL AT MARKET //ENDIF //ENDIF // Conditions to enter short positions c3 = (close < close[1]) IF c3 THEN SELLSHORT PositionSize CONTRACT AT MARKET ENDIF // Conditions to exit short positions //IF Shortonmarket then //IF open>close Then //ExitShort AT MARKET //ENDIF //ENDIF //graph c1 coloured(0,128,0,155) //graph c3 coloured(255,0,0,255)

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  robertogozzi

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  02/16/2022 at 8:13 AM #188329
  15482847

  Thank you Roberto, you have just answered two big questions for me.  Using (close[1] > open[1]) just solved another issue I had with a different code I’m working on.

  Thanks again, I really appreciate it!

  

  15482847

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