opening a pos on a specific price

miric94 · 2023-02-04T12:11:30+00:00

Hello! I want to backtest a few lines I have identified as good r/s levels but am an utter noob when it comes to coding. Say I want to test 11500 on NQ, when the price comes from above I want to long. doing this with the help of MA14. But I’m not sure what to use to specify the level, as I understand “close” it needs to actually close on that level, is there anything I can use for a touch? Don’t know if this makes any sense. 😀 In essence, I want to find out the best SL and TP for trading my levels.

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02/04/2023 at 1:11 PM #209099 quote

miric94
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New

Hello! I want to backtest a few lines I have identified as good r/s levels but am an utter noob when it comes to coding. Say I want to test 11500 on NQ, when the price comes from above I want to long. doing this with the help of MA14. But I’m not sure what to use to specify the level, as I understand “close” it needs to actually close on that level, is there anything I can use for a touch? Don’t know if this makes any sense. 😀 In essence, I want to find out the best SL and TP for trading my levels.

02/04/2023 at 1:47 PM #209102 quote
robertogozzi
Moderator

Legend
Touch is when either LOW or HIGH reach or break that level, such as:
```
If low  <= 11500 then //touched from above
If high >= 11500 then //touched from below
```
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02/04/2023 at 2:31 PM #209103 quote

miric94
Participant

New

Thanks Roberto! This really helped, when it reaches tp for example, it opens a new order the bar after as long as price is above my level, which I understand from the code is correct. How do I set it to not keep adding while above? So one buy per touch, if it touches again, buy.

02/04/2023 at 2:42 PM #209104 quote

JS
Participant

Master

If you do not want to open cumulative orders, you must place the following line at the beginning of your code:

DefParam CumulateOrders=False

An alternative is to use:

If High CrossesOver Average[14](Close) then

Buy 1 contract at Market

EndIf

If Low CrossesUnder Average[14](Close) then

SellShort 1 contract at Market

EndIf

With the latter option, you only buy / sell when the price crosses with the average…

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02/04/2023 at 10:17 PM #209117 quote

miric94
Participant

New

Yea sure that could work but I want to be really specific, which I understand is difficult. high >= “value” tp = 20 sl = 5 when either of those is hit and price is high >= the algo will keep opening positions. I really just want it to open a position when the line is touched. attached is a really bad example on s&p, there will be bad trades and these would be 2 of them, I still would like it to work but I can’t figure out how to open exactly on the line, and only then. Maybe smaller TF and maybe lesser MA. Any other ideas?
terrible_example.jpg

02/04/2023 at 11:43 PM #209119 quote

JS
Participant

Master

You could use Limit orders:

If Close < Resistance then

SellShort 1 contract at Resistance Limit

EndIf

If Close > Support then

Buy 1 contract at Support Limit

EndIf
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