Selling after X days

• 05/06/2020 at 9:43 AM #130181
  Frank

  Hello,

  My objective is to set a stop loss which equals the buying price – 1,5*Average Daily Range and a profit target which equals the buying price + 3*Average Daily Range.

  I’m considering an Average Daily Range of 7 trading days.

  1 candle = 1 trading day

  I also want to sell at stop if the opening price equals the closing price, or if nothing happened after 20 days.

  This is my code

  Buy and sell strategy

  ADR = Average[7](Dhigh(1)-Dlow(1)) // Target and Stop Loss c6 = 1.5*ADR c7 = 3*ADR IF Dclose(0)-c6 THEN SELL AT close STOP ENDIF IF Dclose(0)+c7 THEN SELL AT close LIMIT ENDIF IF close = open THEN SELL AT close STOP ENDIF

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  ADR = Average[7](Dhigh(1)-Dlow(1))   // Target and Stop Loss   c6 = 1.5*ADR   c7 = 3*ADR     IF Dclose(0)-c6 THEN SELL AT close STOP ENDIF     IF Dclose(0)+c7 THEN SELL AT close LIMIT ENDIF     IF close = open THEN SELL AT close STOP ENDIF

  I don’t know if the above code will do exactly what I expect. Also, I don’t know how to code “If nothing happens, sell at limit after 20 days”.

  Can anybody help with this one? Thanks!

  Frank

   

   

   

  

  Frank

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  05/06/2020 at 10:14 AM #130192
  Vonasi

  Have you read through all the instruction documentation that can be found here?

  https://www.prorealcode.com/prorealtime-documentation/

  STOP and LIMIT orders are pending orders that you place on the market at each bar to do something at an inferior price or at a better price so you are using them all wrong.

  If you calculate your take profit and stop loss levels then you can simply do this:

  ADR = Average[7](Dhigh(1)-Dlow(1)) sl = 1.5*ADR tp = 3*ADR set stop ploss sl set target pprofit tp

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  ADR = Average[7](Dhigh(1)-Dlow(1))    sl = 1.5*ADR tp = 3*ADR   set stop ploss sl set target pprofit tp

  Obviously the sl and tp values will be updated at every new bar so if you want them fixed then set them at the time of entering the market and include them with in a IF NOT ONMARKET condition.

  Selling after 20 days is easy. Selling if close equals open is also easy but I can’t imagine this happens very often on a daily chart.

  if onmarket and ((barindex - tradeindex = 20) or (close = open)) then sell at market exitshort at market endif

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  if onmarket and ((barindex - tradeindex = 20) or (close = open)) then sell at market exitshort at market endif

   

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  Frank

  

  Vonasi

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  05/06/2020 at 10:48 AM #130201
  Frank

  Hi Vonasi,

  Thank you very much for the link to the online documentation, I only had the PDF version, this is very handy.

  I’m still in doubt with one part of the code. I confirm that I do want to keep the stop loss and the take profit fixed, but it’s still not clear to me how to do it, when you say “set them at the time of entering the market and include them with in a IF NOT ONMARKET condition”, How am I supposed to change the code to make that happen?

  ADR = Average[7](Dhigh(1)-Dlow(1)) sl = 1.5*ADR tp = 3*ADR set stop ploss sl set target pprofit tp

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  ADR = Average[7](Dhigh(1)-Dlow(1))    sl = 1.5*ADR tp = 3*ADR   set stop ploss sl set target pprofit tp

  Many thanks in advance.

  Frank

   

   

   

  

  Frank

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  05/06/2020 at 12:13 PM #130214
  Vonasi

  if (your entry conditions) then buy 1 contract at market if not onmarket then ADR = Average[7](Dhigh(1)-Dlow(1)) sl = 1.5*ADR tp = 3*ADR endif endif set stop ploss sl set target pprofit tp

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  if (your entry conditions) then buy 1 contract at market if not onmarket then ADR = Average[7](Dhigh(1)-Dlow(1)) sl = 1.5*ADR tp = 3*ADR endif endif   set stop ploss sl set target pprofit tp

   

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  05/06/2020 at 2:36 PM #130241
  Frank

  Thank you very much! I stll have one more question (I’m learning…). I’ve tried to incorporate the “not onmarket” condition in the buy conditions rather than in a separate one, and I’m getting different results. I don’t understand why, and which of the 2 cases would be more appropriate for my objective:

  IF (c1 AND c2 AND c3 AND c4 AND c5) AND not daysForbiddenEntry THEN BUY 100 SHARES AT MARKET IF NOT ONMARKET THEN ADR = Average[7](Dhigh(1)-Dlow(1)) sl = 1.5*ADR tp = 3*ADR ENDIF ENDIF set stop ploss sl set target pprofit tp

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  IF (c1 AND c2 AND c3 AND c4 AND c5) AND not daysForbiddenEntry THEN BUY 100 SHARES AT MARKET   IF NOT ONMARKET THEN   ADR = Average[7](Dhigh(1)-Dlow(1))    sl = 1.5*ADR tp = 3*ADR ENDIF ENDIF   set stop ploss sl set target pprofit tp

  IF (c1 AND c2 AND c3 AND c4 AND c5) AND not daysForbiddenEntry AND NOT ONMARKET THEN BUY 100 SHARES AT MARKET ENDIF ADR = Average[7](Dhigh(1)-Dlow(1)) sl = 1.5*ADR tp = 3*ADR set stop ploss sl set target pprofit tp

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  IF (c1 AND c2 AND c3 AND c4 AND c5) AND not daysForbiddenEntry AND NOT ONMARKET THEN BUY 100 SHARES AT MARKET ENDIF     ADR = Average[7](Dhigh(1)-Dlow(1))    sl = 1.5*ADR tp = 3*ADR   set stop ploss sl set target pprofit tp

  Could you please shed a light on this one? I’m surely missing something here.

   

   

   

   

   

   

  Frank

   

  

  Frank

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  05/06/2020 at 4:01 PM #130268
  Vonasi

  All conditions are checked at the close of a bar. So if you are on market at the close of that bar then that condition is true even if you place an order to close a trade. That stops an entry on the next bar or stops the orders cancelling each other out.

  Use DEFPARAM CUMULATEORDERS = FALSE at the top of your first code shown in your last post and that will only ever have one position open at a time but not miss alternate bars due to the ONMARKET condition.

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  05/06/2020 at 4:08 PM #130271
  Frank

  Many thanks!

  Frank

   

  

  Frank

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