Short Position if actual price below last bar

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  • 07/06/2023 at 3:54 PM #217369 quote
    titleist311
    Participant
    New

    Dear all,

    I am a beginner in coding. Acutally I am looking for a solution to enter a short position once the current bar is trading lower than the low of the last bar. Then set a Stop Loss above the last bar’s high and a profit target which is 3 times the stop loss.

    Somehow this code isn’t working yet. Can anyone tell me what I do have to correct?

    Thanks a lot for your support.

    Defparam cumulateorders = false
c1 = close<low[1]
h1 = High[1]
l1 = Low[1]
SL = h1 - l1 + 1*PointSize

IF NOT ShortOnMarket AND c1 THEN
SELLSHORT 1 CONTRACTS AT MARKET
ENDIF

SET STOP PLOSS 1*SL
SET TARGET PPROFIT 3*SL

    Best regards

    Simon

    07/06/2023 at 6:23 PM #217377 quote
    JS
    Participant
    Senior

    Hi Simon,

    Try this…

      

    DefParam CumulateOrders = false
h1 = High
l1 = Low
SL = (h1 - l1)

If NOT ShortOnMarket then
SellShort 1 contract at Low Stop
Set Stop pLoss SL * pipsize 
Set Target pProfit (3 * SL) * pipsize
EndIf
    07/07/2023 at 3:38 PM #217409 quote
    titleist311
    Participant
    New

    Thanks a lot that works much better.

    Now I have one last question. During a test session one trade was entered although the low of the bar (let’s say at price 105) was not below low the last bar (also 105) but just the same price. How do I have to adjust if the trade should be entered  just one pip lower at 104.99?

    Thanks again!

    07/07/2023 at 4:13 PM #217413 quote
    JS
    Participant
    Senior
    Hi, SellShort 1 contract at (Low-pipsize) Stop

    You have to control what the size of the “pipsize” is…

    For example, a “pipsize” of 1 can be divided by 100 (pipsize/100)…

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Short Position if actual price below last bar


ProOrder: Automated Strategies & Backtesting

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titleist311 @titleist311 Participant
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This topic contains 3 replies,
has 2 voices, and was last updated by JS
2 years, 7 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 07/06/2023
Status: Active
Attachments: No files
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