Pending Order to close position in choppy market

• 10/23/2021 at 12:25 AM #180207
  Amin1233

  Hi . I am trying to write a code to exist at breakeven point  when I am in the market and the chance of market going my way is diminishing. I am using pending orders and place them based on how far the price goes in each direction. I backtested it and noticed that whenever the pending order is triggered it closes my existing position and simultaneasly opens opposite direction position. e.g. If I am Long on market it closes my long and opens a short at the same time. Just wondering what I am doing wrong here:

   

  Once Flag1 = 0 Once Flag2 = 0 once Flag3=0 ONce Flag4=0 once flag5=0 once flag6=0 IF Not OnMarket OR (LongOnMarket AND ShortOnMarket[1]) OR (LongOnMarket[1] AND ShortOnMarket) THEN Flag1 = 0 Flag2 = 0 Flag3=0 Flag4=0 flag5=0 flag6=0 ENDIF if longonmarket and close >= positionprice +22 then Flag2 = 1 endif if longonmarket and close >= positionprice +15 then Flag3 = 1 endif if longonmarket and close <= positionprice -15 then Flag4 = 1 endif if longonmarket and flag3 and close <= positionprice -15 then Flag5 = 1 endif if longonmarket and flag4 and close >= positionprice +15 then Flag6 = 1 endif if shortonmarket and close <= positionprice -22 then Flag2 = 1 endif if shortonmarket and close <= positionprice -10 then Flag3 = 1 endif if shortonmarket and close >= positionprice +10 then Flag4 = 1 endif if shortonmarket and flag3 and close >= positionprice +10 then Flag5 = 1 endif if shortonmarket and flag4 and close <= positionprice -10 then Flag6 = 1 endif if LongOnMarket AND Flag2 then sell countoflongshares contracts at positionprice stop endif if LongOnMarket AND Flag6 then sell countoflongshares contracts at positionprice stop endif if LongOnMarket AND Flag5 then sell countoflongshares contracts at positionprice limit endif if shortonmarket and Flag2 then buy countofshortshares contracts at positionprice stop endif if shortonmarket and Flag5 then buy countofshortshares contracts at positionprice limit endif if shortonmarket and Flag6 then buy countofshortshares contracts at positionprice stop endif

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  Once Flag1 = 0 Once Flag2 = 0 once Flag3=0 ONce Flag4=0 once flag5=0 once flag6=0 IF Not OnMarket OR (LongOnMarket AND ShortOnMarket[1]) OR (LongOnMarket[1] AND ShortOnMarket) THEN Flag1 = 0 Flag2 = 0 Flag3=0 Flag4=0 flag5=0 flag6=0 ENDIF if longonmarket and close >= positionprice +22 then Flag2 = 1 endif if longonmarket and close >= positionprice +15 then Flag3 = 1 endif if longonmarket and close <= positionprice -15 then Flag4 = 1 endif if longonmarket and flag3 and close <= positionprice -15 then Flag5 = 1 endif   if longonmarket and flag4 and close >= positionprice +15 then Flag6 = 1 endif if shortonmarket and close <= positionprice -22 then Flag2 = 1 endif if shortonmarket and close <= positionprice -10 then Flag3 = 1 endif if shortonmarket and close >= positionprice +10 then Flag4 = 1 endif if shortonmarket and flag3 and close >= positionprice +10 then Flag5 = 1 endif if shortonmarket and flag4 and close <= positionprice -10 then Flag6 = 1 endif     if LongOnMarket AND Flag2 then sell countoflongshares contracts at positionprice stop endif if LongOnMarket AND Flag6 then sell countoflongshares contracts at positionprice stop endif if LongOnMarket AND Flag5 then sell countoflongshares contracts at positionprice limit endif if shortonmarket and Flag2 then buy countofshortshares contracts at positionprice stop endif if shortonmarket and Flag5 then buy countofshortshares contracts at positionprice limit endif if shortonmarket and Flag6 then buy countofshortshares contracts at positionprice stop endif

   

  

  Amin1233

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  10/23/2021 at 3:41 AM #180208
  robertogozzi

  BUY is used to open a Long position (after closing any open Short position, in which case it does a Stop & Reverse).

  SELL is used to exit a Long position.

  SELLSHORT is used to open a Short position (after closing any open Long position, in which case it does a Stop & Reverse).

  EXITSHORT is used to exit s Short position.

   

  

  robertogozzi

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