Prevent entry near pivot points

• 08/19/2020 at 10:02 AM #141997
  ViSi0nZ

  Hi Guys, hope everyone is well.. loving how informative this platform is..

  Was curious if anyone would kindly help me code a condition as part of a strategy.. and that is to prevent orders being opened when they are in close proximity to a pivot point..
  e.g. No longs within 5 points of R1, R2, R3
  e.g. No Shorts within 5 points of S1, S2, S3

  These are key reversal points, or where lots of bids are stacked and I find that majority of my losses come from when the automated system enters close to these.

  Simply put, the strategy would be superior if somehow it could determine these areas.

  Would love some help, albeit I am very very basic, only just picked this up last week so apologies in advance.

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  Distincttacos

  

  ViSi0nZ

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  08/19/2020 at 10:27 AM #142006
  Nicolas

  The below code could work for this purpose, I let you analyze it, i did not test it, it is just a quick rough version:

  DEFPARAM Cumulateorders=false dist = 5 //distance from pivot points s/r x = dist*pointsize //find proximity of pivot points Ht = DHigh(1) Bs = DLow(1) C = DClose(1) Pivot = (Ht + Bs + C) / 3 Res3 = Res1 + (Ht - Bs) Res2 = Pivot + Ht - Bs Res1 = (2 * Pivot) - Bs Sup1 = (2 * Pivot) - Ht Sup2 = Pivot - (Ht - Bs) Sup3 = Sup1 - (Ht - Bs) prox=0 if close>pivot then //** above Pivot ** i=1 while i<=2 do if i=1 then floor=res1 ceil=res2 if (close>floor-x and close<floor+x) or (close>ceil-x and close<ceil+x) then prox=1 break endif elsif i=3 then floor=res2 ceil=res3 if (close>floor-x and close<floor+x) or (close>ceil-x and close<ceil+x) then prox=1 break endif endif i=i+1 wend elsif close<pivot then //** below Pivot ** i=1 while i<=2 do if i=1 then floor=sup2 ceil=sup1 if (close>floor-x and close<floor+x) or (close>ceil-x and close<ceil+x) then prox=1 break endif elsif i=2 then floor=sup3 if (close>floor-x and close<floor+x) or (close>ceil-x and close<ceil+x) then prox=1 break endif endif i=i+1 wend endif // dummy strategy a=rsi[14] crosses over 50 and not prox IF a and not longonmarket THEN BUY 1 CONTRACT AT market set target pprofit 10 set stop ploss 5 ENDIF graphonprice floor coloured(0,200,200) graphonprice ceil coloured(200,0,0) graph prox

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  DEFPARAM Cumulateorders=false   dist = 5 //distance from pivot points s/r   x = dist*pointsize   //find proximity of pivot points Ht = DHigh(1) Bs = DLow(1) C = DClose(1) Pivot = (Ht + Bs + C) / 3 Res3 = Res1 + (Ht - Bs) Res2 = Pivot + Ht - Bs Res1 = (2 * Pivot) - Bs Sup1 = (2 * Pivot) - Ht Sup2 = Pivot - (Ht - Bs) Sup3 = Sup1 - (Ht - Bs)   prox=0 if close>pivot then //** above Pivot ** i=1 while i<=2 do if i=1 then floor=res1 ceil=res2 if (close>floor-x and close<floor+x) or (close>ceil-x and close<ceil+x) then prox=1 break endif elsif i=3 then floor=res2 ceil=res3 if (close>floor-x and close<floor+x) or (close>ceil-x and close<ceil+x) then prox=1 break endif endif i=i+1 wend elsif close<pivot then //** below Pivot ** i=1 while i<=2 do if i=1 then floor=sup2 ceil=sup1 if (close>floor-x and close<floor+x) or (close>ceil-x and close<ceil+x) then prox=1 break endif elsif i=2 then floor=sup3 if (close>floor-x and close<floor+x) or (close>ceil-x and close<ceil+x) then prox=1 break endif endif i=i+1 wend endif // dummy strategy a=rsi[14] crosses over 50 and not prox IF a and not longonmarket THEN BUY 1 CONTRACT AT market set target pprofit 10 set stop ploss 5 ENDIF   graphonprice floor coloured(0,200,200) graphonprice ceil coloured(200,0,0) graph prox

   

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  Distincttacos

  

  Nicolas

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  08/19/2020 at 2:36 PM #142059
  GraHal

  Above added as Log 233 here …

  Snippet Link Library

  Thank you for beating me to it Nicolas! 🙂

  

  GraHal

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  10/16/2022 at 8:38 AM #202606
  phil3034

  Hello,

  I just tried to use this code, but the system displays an error message of line 25 and suggests that I use endif rather than floor, which does not make sense. 

  Do you know if this code works?

   

  Thanks !

  

  phil3034

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  10/16/2022 at 9:15 AM #202609
  JC_Bywan

  Hi,

  floor (and ceil too, ligne 26) were introduced recently as reserved keywords of the language, year of this code 2020 sounds old enough to be “before” they became reserved keywords, so they used to be ok as variable names but not anymore. They have to be changed to other names of your choice, for example you could replace them with “myfloor” and “myceil”.

  

  JC_Bywan

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  10/16/2022 at 1:54 PM #202618
  phil3034

  Thank you indeed, but this code does not in fact give what I want.

  Actually, I think my problem is more complex.

  I am looking for a code that allows me to put a blocking condition so as not to enter position if my price is too close to a pivot point, say a distance of X points. I would like to consider the Daily Weekly and Monthly pivot points.

  The code that I have just created attached does not work, because I do not know how to code how the different levels are positioned between them, and to determine those which frame my price at the moment.

  Indeed, the order of the pivot points is then no longer at all obvious and my price can be found for example S1 Daily and S2 Weekly depending on the configuration of the moment.

  I hope my question is clear, and if anyone can help me out that would be great.

  Thanks!

   

  code prt

  //find proximity of pivot points journalier Ht = High(1) Bs = DLow(1) C = DClose(1) Pivot = (Ht + Bs + C) / 3 Res3 = Res1 + (Ht - Bs) Res2 = Pivot + Ht - Bs Res1 = (2 * Pivot) - Bs Sup1 = (2 * Pivot) - Ht Sup2 = Pivot - (Ht - Bs) Sup3 = Sup1 - (Ht - Bs) midres1 = (res1+pivot)/2 midres2= (res2+res1)/2 midres3= (res3+res2)/2 midsup1=(sup1+pivot)/2 midsup2=(sup2+sup1)/2 midsup3=(sup3+sup2)/2 if close > pivot and close < midres1 then myceil=midres1 myfloor=pivot elsif close > midres1 and close < res1 then myceil=res1 myfloor=midres1 elsif close > res1 and close < midres2 then myceil=midres2 myfloor=res1 elsif close > midres2 and close < res2 then myceil=res2 myfloor=midres2 elsif close > res2 and close < midres3 then myceil=midres3 myfloor=res2 elsif close > midres3 and close < res3 then myceil=res3 myfloor=midres3 elsif close >sup3 and close < midsup3 then myceil=midsup3 myfloor=sup3 elsif close >midsup3 and close < sup2 then myceil=sup2 myfloor=midsup3 elsif close >sup2 and close < midsup2 then myceil=midsup2 myfloor=sup2 elsif close >midsup2 and close < sup1 then myceil=sup1 myfloor=midsup2 elsif close >sup1 and close < midsup1 then myceil=midsup1 myfloor=sup1 elsif close >midsup1 and close < pivot then myceil=pivot myfloor=midsup1 endif return myfloor, myceil

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  //find proximity of pivot points journalier Ht = High(1) Bs = DLow(1) C = DClose(1) Pivot = (Ht + Bs + C) / 3 Res3 = Res1 + (Ht - Bs) Res2 = Pivot + Ht - Bs Res1 = (2 * Pivot) - Bs Sup1 = (2 * Pivot) - Ht Sup2 = Pivot - (Ht - Bs) Sup3 = Sup1 - (Ht - Bs) midres1 = (res1+pivot)/2 midres2= (res2+res1)/2 midres3= (res3+res2)/2 midsup1=(sup1+pivot)/2 midsup2=(sup2+sup1)/2 midsup3=(sup3+sup2)/2       if close > pivot and close < midres1 then myceil=midres1 myfloor=pivot elsif close > midres1 and close < res1 then myceil=res1 myfloor=midres1 elsif close > res1 and close < midres2 then myceil=midres2 myfloor=res1 elsif close > midres2 and close < res2 then myceil=res2 myfloor=midres2 elsif close > res2 and close < midres3 then myceil=midres3 myfloor=res2 elsif close > midres3 and close < res3 then myceil=res3 myfloor=midres3   elsif close >sup3 and close < midsup3 then myceil=midsup3 myfloor=sup3 elsif close >midsup3 and close < sup2 then myceil=sup2 myfloor=midsup3 elsif close >sup2 and close < midsup2 then myceil=midsup2 myfloor=sup2 elsif close >midsup2 and close < sup1 then myceil=sup1 myfloor=midsup2 elsif close >sup1 and close < midsup1 then myceil=midsup1 myfloor=sup1 elsif close >midsup1 and close < pivot then myceil=pivot myfloor=midsup1   endif   return myfloor, myceil

   

  

  phil3034

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  10/17/2022 at 8:48 AM #202658
  Nicolas

  Much better approach with help of variables in array. We store all pivot points into an array, and the fetch it to check if the current price is near of the pivot point, if that’s the case we do not allow any order to be opened.

  You can fill the array $p with any other pivot points from any other time horizons (such as weekly, monthly, ..)

  DEFPARAM Cumulateorders=false dist = 5 //distance from pivot points s/r x = dist*pointsize //find proximity of pivot points Ht = DHigh(1) Bs = DLow(1) C = DClose(1) Pivot = (Ht + Bs + C) / 3 Res3 = Res1 + (Ht - Bs) Res2 = Pivot + Ht - Bs Res1 = (2 * Pivot) - Bs Sup1 = (2 * Pivot) - Ht Sup2 = Pivot - (Ht - Bs) Sup3 = Sup1 - (Ht - Bs) //using arrays to store pivot points $p[0]= Pivot $p[1] = Res3 $p[2] = Res2 $p[3] = Res1 $p[4] = Sup1 $p[5] = Sup2 $p[6] = Sup3 //loop into the array to check if price is too near tradeok = 1 for i = 0 to lastset($p) if abs(close-$p[i])<=x then //near a pivot point tradeok=0 //no trading allowed!! break endif next // dummy strategy if tradeok then a=rsi[14] crosses over 50 IF a and not longonmarket THEN BUY 1 CONTRACT AT market set target pprofit 10 set stop ploss 5 ENDIF endif graph tradeok as "no pivot within range"

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  DEFPARAM Cumulateorders=false   dist = 5 //distance from pivot points s/r   x = dist*pointsize   //find proximity of pivot points Ht = DHigh(1) Bs = DLow(1) C = DClose(1) Pivot = (Ht + Bs + C) / 3 Res3 = Res1 + (Ht - Bs) Res2 = Pivot + Ht - Bs Res1 = (2 * Pivot) - Bs Sup1 = (2 * Pivot) - Ht Sup2 = Pivot - (Ht - Bs) Sup3 = Sup1 - (Ht - Bs)   //using arrays to store pivot points $p[0]= Pivot $p[1] = Res3 $p[2] = Res2 $p[3] = Res1 $p[4] = Sup1 $p[5] = Sup2 $p[6] = Sup3   //loop into the array to check if price is too near tradeok = 1 for i = 0 to lastset($p) if abs(close-$p[i])<=x then //near a pivot point     tradeok=0 //no trading allowed!!   break endif next // dummy strategy if tradeok then a=rsi[14] crosses over 50 IF a and not longonmarket THEN   BUY 1 CONTRACT AT market   set target pprofit 10   set stop ploss 5 ENDIF endif   graph tradeok as "no pivot within range"

   

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  Nicolas

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