Setting Exit Short/Long orders with RSI

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  • 07/30/2017 at 10:34 PM #42035 quote
    Juan Salas
    Participant
    Master

    Dear colleagues,

    I have a problem with coding an exit for short and long orders with the RSI, or based in the “colour” of the candle.

    As part of a system in EUR/USD, I am buying(Long/Short) every time one single candle (in TF: 1h) is bigger than 30 pip size and together with other requirements.

    Once the system buy, I want to exit the order, once the first next candle is opposite to the order (i.e.- If I am short, I want the strategy to exit short if the first candle is long and there is an increase in RSI compared to the previous one.

    I have tried with the following code but no success whatsoever. I have tried different options and obviously I must be doing something wrong. I am attaching a pic of one operation I can’t solve with my coding.

    Screen-Shot-2017-07-30-at-23.05.35.png Screen-Shot-2017-07-30-at-23.05.35.png
    07/30/2017 at 10:40 PM #42037 quote
    Juan Salas
    Participant
    Master
    // Salida Cortos
IF SHORTONMARKET AND (close>open) AND (RSI[2](close)[1]<RSI[2](close)) AND (RSI[2](close)<35) THEN
EXITSHORT AT MARKET
ENDIF

IF SHORTONMARKET AND((open[1]-close[1])>30*pipsize)AND(close>open) THEN
EXITSHORT AT MARKET
ENDIF
    07/30/2017 at 10:42 PM #42038 quote
    Juan Salas
    Participant
    Master

    Thanks in advance to anyone helping.

    Juan

    07/31/2017 at 12:50 AM #42042 quote
    Wing
    Participant
    Veteran

    Is this true for the picture you posted?

    RSI[2](close)<35

    To clarify, you sell short at the end of that red bar, which means position is opened at the open of next bar, and since this bar turns out to be green, you wish to sell at the open of the next bar?

    07/31/2017 at 5:51 AM #42047 quote
    Juan Salas
    Participant
    Master

    Hi Wing,

    yes, you are right. I sell short after the big red candle. The position is open at the beginning of the first green candle, and because the RSI has increased and as precaution I want to exit short at market, so at the opening of the second green candle.

    Thanks,

    p.s.- yes, it is true. The RSI at the close of the first LONG candle is below 35.

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Setting Exit Short/Long orders with RSI


ProOrder: Automated Strategies & Backtesting

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Juan Salas @juan-salas Participant
Summary

This topic contains 4 replies,
has 2 voices, and was last updated by Juan Salas
8 years, 7 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 07/30/2017
Status: Active
Attachments: 1 files
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