Not Entering a new short

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01/25/2022 at 5:11 PM #186610 quote

Member

New

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

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

robertogozzi

Moderator

Legend

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)

15482847 thanked this post

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

15482847

Member

New

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!