Only trade when above/below x% on previous day close?

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  • 01/09/2018 at 12:31 PM #58579 quote
    jbyrne
    Participant
    Average

    Hi, I’m currently trying to backtest some ideas and I need ProOrder to only deal if stock is above/below ‘x’% on previous days close. For example, I may want to only deal when the stock is over +2% on previous days close. Since theres no timeframe in ProOrder I don’t know how to do this.

     

    Can anybody show me how to code this?

    Thanks in advance

    01/09/2018 at 12:43 PM #58582 quote
    Vonasi
    Moderator
    Master
    Percentage = 10

IF close > (DClose(1) * (1 + (Percentage/100))) THEN
BUY 1 Contract AT Market
ENDIF

IF close < (DClose(1) * (1 - (Percentage/100))) THEN
SELLSHORT 1 Contract AT Market
ENDIF

    Is one option which opens a position at the close of the candle if it is your chosen percentage above/below the last candleclose.

    Or you can:

    Percentage = 10

UpBuyPrice = (DClose(1) * (1 + (Percentage/100)))
DownBuyPrice = (DClose(1) * (1 - (Percentage/100)))

BUY 1 Contract AT UpBuyPrice LIMIT
SELLSHORT 1 Contract AT DownBuyPrice LIMIT

    which sets  market orders to buy/sell if the chosen increase or decrease is reached.

    jbyrne thanked this post
    01/09/2018 at 2:14 PM #58612 quote
    jbyrne
    Participant
    Average

    Thanks a lot, seems to work how I need it 🙂

    01/09/2018 at 2:21 PM #58613 quote
    Vonasi
    Moderator
    Master

    Sorry – I just noticed a typo.

    The LIMIT’s in the second example should be STOP’s as you are setting an inferior price to the current one to buy/sell at.

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Only trade when above/below x% on previous day close?


ProOrder: Automated Strategies & Backtesting

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jbyrne @jbyrne Participant
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This topic contains 3 replies,
has 2 voices, and was last updated by Vonasi
8 years, 1 month ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 01/09/2018
Status: Active
Attachments: No files
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