Setting Exit Short/Long orders with RSI

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

  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.

   

  

  Juan Salas

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  07/30/2017 at 10:40 PM #42037
  Juan Salas

  description of my coding for exit short

  // 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

  1 2 3 4 5 6 7 8

  // 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

   

  

  Juan Salas

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  07/30/2017 at 10:42 PM #42038
  Juan Salas

  Thanks in advance to anyone helping.

  Juan

  

  Juan Salas

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

  Is this true for the picture you posted?

  RSI[2](close)<35

  1	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?

  

  Wing

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

  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.

  

  Juan Salas

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  Topics: 39

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