opening a pos on a specific price

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  • 02/04/2023 at 1:11 PM #209099 quote
    miric94
    Participant
    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
    Master

    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
    miric94 thanked this post
    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
    Senior

    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…

    miric94 thanked this post
    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 terrible_example.jpg
    02/04/2023 at 11:43 PM #209119 quote
    JS
    Participant
    Senior

    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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opening a pos on a specific price


ProOrder: Automated Strategies & Backtesting

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miric94 @miric94 Participant
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This topic contains 5 replies,
has 3 voices, and was last updated by JS
3 years ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 02/04/2023
Status: Active
Attachments: 1 files
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