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07/29/2018 at 12:02 PM #76997 quote

Real Pro
Participant

Average

Hello,

If I use: pprofit = averagetruerange[14](close)

… can someone tell me how PRT calculates the profit level?

If the profit target is not met on the first bar (after buy cond is met), does it re-calculate the level using the new bar? Does it continue to do this with each new bar?

Many thanks.

PS/ notify of follow ups via email sometimes doesn’t work.

07/29/2018 at 12:16 PM #76998 quote

Vonasi
Moderator

Master

If you are using SET to set the level then any time SET is read in the code then an order is sent to market and if the value is different to the previous level then it will be set at the new level. If your SET instruction is within an IF THEN ENDIF and the conditions are not met then it may not be updated.

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07/29/2018 at 12:59 PM #77000 quote

Real Pro
Participant

Average

Thanks Vonasi,

The backtest works better if I use SET, so I will go with that. Now I’m trying to get my indicator to match the backtest.

If the backtest says: set target pprofit = averagetruerange[14](close)

…could you tell me how to draw this as a dynamic line as an indicator please? Is it possible?

07/29/2018 at 1:15 PM #77002 quote
Vonasi
Moderator

Master
The value you will be using is the value at the close of the last candle so this will tell you what that was as an indicator:
```
a = averagetruerange[14](close)

return a[1]
```
07/29/2018 at 1:52 PM #77006 quote
Real Pro
Participant

Average
I think I’ve got it now, thank you.
```
buycond =*buy conditions*

if buycond then
closepricewhenbuy = close
endif

atr = closepricewhenbuy + averagetruerange[14](close)

return atr[1]
```
07/29/2018 at 2:18 PM #77007 quote
Vonasi
Moderator

Master
The problem with that is that is that the indicator is constantly updating on the current forming candle and so you will need to see if your conditions were met on the last candle and then set the closepricewhenbuy to the open value of the current candle and the ATR value to the previous candle to get a true picture of the trade.
```
buycond = (buy conditions)
 
if buycond[1] then
closepricewhenbuy = open
endif
 
atr = closepricewhenbuy + averagetruerange[14](close[1])
 
return atr
```
Not tested.

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07/29/2018 at 2:56 PM #77008 quote

Real Pro
Participant

Average

That looks good thanks, but for some reason doesn’t appear to work. Some signals are correctly placed; others not.

07/29/2018 at 3:10 PM #77009 quote
Real Pro
Participant

Average
```
buycond = (buy conditions)
 
if buycond[1] then
closepricewhenbuy = open
endif
 
atr = closepricewhenbuy + averagetruerange[1](close)
 
return atr
```
07/29/2018 at 3:30 PM #77010 quote
Vonasi
Moderator

Master
With this:
```
averagetruerange[1](close)
```
you are just getting the currently forming ATR for a period of 1 so just this currently forming bar. That is not information that you can use in a strategy. My last version works exactly as it should be.

In this image the bottom indicator is showing AVERAGETRUERANGE[14](close[1]) which is the value a strategy would get at the close of a bar when it makes its decision. The OPEN of the current bar is the price you would open your trade at. Added together we get your take profit price which is shown in the top indicator which is my code.

OPEN + AVERAGETRUERANGE[14](close) = ?

63863.9 + 1379.14356 = 65243.04536

[attachment file=77011]

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Screenshot_1-14.png
07/29/2018 at 3:46 PM #77013 quote

Real Pro
Participant

Average

Thanks again. I made a typo (1 instead of 14), but I undersatand your explanation.
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pprofit

ProOrder: Automated Strategies & Backtesting

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This topic contains 9 replies,
has 2 voices, and was last updated by Real Pro
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Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	07/29/2018
Status:	Active
Attachments:	1 files

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