Hi all, I was scrolling through other forums looking for ideas and I came across one that looks interesting.
The link is here if anyone’s interested and the premise is to enter on the 9th bar (hour) of the day based on a certain pattern with a 10 point target and stop. If the stop is hit, a pending order is placed of twice the size 5 points away for reentry in the opposite direction.
The code I have so far is:
DEFPARAM CumulateOrders = False
//Buy patterns
Buy1 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close > Open)
Buy2 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close > Open)
Buy3 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close < Open)
Buy4 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close > Open)
//Sell patterns
Sell1 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close < Open)
Sell2 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close < Open)
Sell3 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close > Open)
Sell4 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close < Open)
//Check pattern at 9th bar of the day
Check = (INTRADAYBARINDEX = 8)
IF Check THEN
IF Buy1 OR Buy2 OR Buy3 OR Buy4 THEN
Buy 1 SHARES AT MARKET
ELSIF Sell1 OR Sell2 OR Sell3 OR Sell4 THEN
SELL 1 SHARES AT MARKET
ENDIF
ENDIF
SET TARGET pPROFIT 10
SET STOP pLOSS 10
What I’m struggling to set at the moment is the pending orders part, Does anyone know a way to set it?
So you have already coded the first part of the strategy? right?
and now you are stuck here? :
If the stop is hit, a pending order is placed of twice the size 5 points away for reentry in the opposite direction.
Hi Nicholas,
Yes the code I posted was the basic coding of the patterns (the bullish and bearish candles). The part that I’m struggling with is the setting of the pending order for the opposite direction if the stop is it
So there is only 2 trades possible each day? The first one at intradaybarindex=8 and the “recovery” one which is a pending order?
What do you mean by ” twice the size 5 points away ” ?
Yeah that’s right, on the 8th bar, it will take a position depending based on what pattern formed. It will also set a pending order 5 points away from the stop loss level.
Sorry, by that I meant twice the size of the original position; so after the 8th bar we enter at £1 per point, and the pending order is set at £2 per point.
I’m sorry if I’m explaining it badly!
Ok good, this code attempt should be tested (forum coding):
DEFPARAM CumulateOrders = False
if intradaybarindex=0 then
count=0
endif
//Buy patterns
Buy1 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close > Open)
Buy2 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close > Open)
Buy3 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close < Open)
Buy4 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close > Open)
//Sell patterns
Sell1 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close < Open)
Sell2 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close < Open)
Sell3 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close > Open)
Sell4 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close < Open)
//Check pattern at 9th bar of the day
Check = (INTRADAYBARINDEX = 8)
IF Check and count=0 THEN
IF Buy1 OR Buy2 OR Buy3 OR Buy4 THEN
Buy 1 SHARES AT MARKET
count=count+1
direction = 1
ELSIF Sell1 OR Sell2 OR Sell3 OR Sell4 THEN
SELLSHORT 1 SHARES AT MARKET
count=count+1
direction = -1
ENDIF
ENDIF
//recovery trade
if count=1 and positionperf(1)<0 then
if direction>0 then
sellshort 2 shares at positionprice-15*pointsize stop
endif
if direction<0 then
buy 2 shares at positionprice+15*pointsize stop
endif
if onmarket then
count=count+1
endif
endif
SET TARGET pPROFIT 10
SET STOP pLOSS 10
Thanks Nicholas, I’ll test it and run it on demo for a while and let you know how it goes!
