Supertrend on MTF

Jodal · Fri, 27 May 2022 07:20:06 +0000

Hello everyone, I would like to create an algo with the following functions (I tried to come up with something, see my code below). Please note that I am a newbie in coding. BUY ORDER ENTRY 2 conditions >Price is above Supertrend (TF 30min) >Previous candle closes above Supertrend (TF 1min) EXIT >Previous candle closes below Supertrend (TF 1min) SELL ORDER ENTRY 2 conditions >Price is below Supertrend (TF 30min) >Previous candle closes below Supertrend (TF 1min) EXIT >Previous candle closes above Supertrend (TF 1min) OTHER: Stop the algo when earnings reach 100 points on the day. There are 3 things I am struggling with >Multi TimeFrame > Use the indicator of the higher timeframe as a “constant” > Code a daily max profit A couple questions 1. Multi TimeFrame It seems my code below is not working, can someone please have a look? I can’t spot what is wrong 2. Use the indicator of the higher timeframe as a “constant” If we take a buy order for example, I would like to place a buy order only when the price crosses above the Supertrend M1 and is ALREADY above Supertrend M30. I don’t want to enter long when the price crosses above the Supertrend M1 and then above the Supertrend M30 Same logic for a sell order but vice versa. Is this the case here? If not, do you know how I could add this small difference? The Supertrend M30 should be a “constant” in the sense that the price is above or below the Supertrend M30 (except if price closes right on it) So all buy orders will be placed when the price is above the Supertrend M30 and the candle closes > Supertrend M1 If the price goes back below the Supertrend M1 (still above the Supertrend M30), then we exit the trade. Later when it goes back above the Supertrend M1, we enter again to buy (if still above the Supertrend M30). My code below does not seem to work that way. Is there a way to write “when price is above the supertrend” instead of “when price closes above the supertrend”? 3. Code a daily max profit What should I add for the maximum number of points per day (say 100)? (No more new trades if we have reached a gain of 100 points) Your help will be highly appreciated!! Enjoy your day // Cumulating positions deactivated DEFPARAM CumulateOrders = False // Higher TimeFrame to indicate if we enter long or short on the lower TimeFrame Timeframe (30 minutes, updateonclose) // Variables indicator1 = SuperTrend[3,10] c1 = (close > indicator1) c2 = (close < indicator1) // Lower TimeFrame on which we enter long or short Timeframe (default) // Variables indicator2 = SuperTrend[3,10] c3 = (close > indicator2) c4 = (close < indicator2) // Conditions to enter long IF NOT LongOnMarket AND c1 AND c3 THEN BUY 1 CONTRACT AT MARKET ENDIF // Conditions to exit a buy position If LongOnMarket AND c4 THEN SELL AT MARKET ENDIF // Conditions to enter short IF NOT ShortOnMarket AND c2 AND c4 THEN SELL 1 CONTRACT AT MARKET ENDIF // Conditions to exit a sell position IF ShortOnMarket AND c3 THEN BUY AT MARKET ENDIF

This topic has 19 replies, 2 voices, and was last updated 3 years ago by Jodal.

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06/07/2022 at 7:23 PM #194868

Jodal

Hi Roberto,

Thanks a lot for your help!

Understood for the non time-based charts.

Yes I am aware it will rarely stop right on the limit, thanks

I still see one issue.
I have the feeling that the 100 euros daily limit is kind of used as a TP.
For example, when the day starts with a losing trade of let’s say 100 points and then there is an ongoing winning trade, it should go up to 200 points (go back to breakeven + make 100 in profit) and not stop at 100 points.
That is what happened on March 03/03. See attached.

Another example, on Graph 2802022, the last circled trade should not happen (it should go on until all the loss is compensated with the ongoing win + daily target profit.

I am not sure it is clear, please let me know if I need to elaborate.

Do you think that is possible to fix?
Enjoy your evening!
Jo

Jodal

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06/08/2022 at 5:46 PM #194939

robertogozzi

“I have the feeling that the 100 euros daily limit is kind of used as a TP“, yes, that’s correct, as you requested in your first post. I only forgot to disable trading after that. Now it’s working as desired.

As to doubling the TP after a loss… wel at a loss it stopped for that day.

What are you goals in case of either a

loss
gain

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Jodal

robertogozzi

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06/08/2022 at 7:42 PM #194944

Jodal

Hi Roberto,

“Now it’s working as desired”, you did not attach any code, did you change the latest one you sent?

I do not want to double the TP after a loss, maybe I should have taken a different number. I just want to take into account that loss(es) when deciding if the robot should continue trading.

For example, if the first trade was a loss of 35 points, it should try to get 135 points until the end of the day to be in profit of 100 points.

At any point in time, the robot should know where we are in terms of ongoing profit (gains/losses of previous trade + floating profit).
If the total loss of previous trades amounts for 32 points, it should go for 132 points.
If the total profit of previous trades amounts for 27 points, it should still go for 73 points. So if the current trade reaches 73 points, it should stop.
So total profit for the day will be 100.

I hope it makes more sens with different numbers.

So basically, the robot will never stop trading until it reaches the daily goal.

Is that possible?

Thanks again!

Jodal

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06/11/2022 at 8:37 AM #195120

robertogozzi

Sorry, I forgot to attach the modified code.

Now I added the last modifications requested, so that it keeps trading till 100 pips have been reached. Each new day it will restart from scratch:

DEFPARAM CumulateOrders = False
//
ONCE CrossOver = 0

IF IntraDayBarIndex = 0 THEN
CrossOver = 0
Tally     = 0
TradeON   = 1
ENDIF

Tally = Tally + ((StrategyProfit - StrategyProfit[1]) / PipValue)

indicator1 = ExponentialAverage[20](close)
indicator2 = ExponentialAverage[2000](close)

IF (indicator1 CROSSES OVER indicator2) OR (indicator1 CROSSES UNDER indicator2) THEN
CrossOver = 1
ENDIF
 
c1 = (indicator1 > indicator2)
c2 = (indicator1 < indicator2)
 
ONCE MyGOAL = 100                    //100 pips Daily
IF OnMarket AND (Tally + ((PositionPerf * PositionPrice / PipSize)) >= (MyGOAL * PipSize)) THEN
SELL      AT Market
EXITSHORT AT Market
TradeON = 0
ENDIF
 
// Formula floatingprofit
//floatingprofit = (((close-positionprice)*pointvalue)*countofposition)/pipsize
 
Timeframe (default)
//
// Conditions to enter long
IF NOT LongOnMarket AND c1 AND TradeON AND CrossOver THEN
BUY 1 CONTRACT AT MARKET
ENDIF
// Conditions to exit a buy position
If LongOnMarket AND c2 THEN
SELL AT MARKET
ENDIF
// Conditions to enter short
IF NOT ShortOnMarket AND c2 AND TradeON AND CrossOver THEN
SELLSHORT 1 CONTRACT AT MARKET
ENDIF
// Conditions to exit a sell position
IF ShortOnMarket AND c1 THEN
EXITSHORT AT MARKET
ENDIF
//
//graph floatingprofit
//graph Money
graph (Tally + (PositionPerf * PositionPrice / PipSize)) coloured(255,0,0,255)
graph TradeON
//graph c1
//graph c2
graphonprice indicator1 coloured(255,0,0,255) AS "Ema20"
graphonprice indicator2 coloured(0,0,255,255) AS "Ema200"

DEFPARAM CumulateOrders = False

ONCE CrossOver = 0

IF IntraDayBarIndex = 0 THEN

CrossOver = 0

Tally = 0

TradeON = 1

ENDIF

Tally = Tally + ((StrategyProfit - StrategyProfit[1]) / PipValue)

indicator1 = ExponentialAverage[20](close)

indicator2 = ExponentialAverage[2000](close)

IF (indicator1 CROSSES OVER indicator2) OR (indicator1 CROSSES UNDER indicator2) THEN

CrossOver = 1

ENDIF

c1 = (indicator1 > indicator2)

c2 = (indicator1 < indicator2)

ONCE MyGOAL = 100 //100 pips Daily

IF OnMarket AND (Tally + ((PositionPerf * PositionPrice / PipSize)) >= (MyGOAL * PipSize)) THEN

SELL AT Market

EXITSHORT AT Market

TradeON = 0

ENDIF

// Formula floatingprofit

//floatingprofit = (((close-positionprice)*pointvalue)*countofposition)/pipsize

Timeframe (default)

// Conditions to enter long

IF NOT LongOnMarket AND c1 AND TradeON AND CrossOver THEN

BUY 1 CONTRACT AT MARKET

ENDIF

// Conditions to exit a buy position

If LongOnMarket AND c2 THEN

SELL AT MARKET

ENDIF

// Conditions to enter short

IF NOT ShortOnMarket AND c2 AND TradeON AND CrossOver THEN

SELLSHORT 1 CONTRACT AT MARKET

ENDIF

// Conditions to exit a sell position

IF ShortOnMarket AND c1 THEN

EXITSHORT AT MARKET

ENDIF

//graph floatingprofit

//graph Money

graph (Tally + (PositionPerf * PositionPrice / PipSize)) coloured(255,0,0,255)

graph TradeON

//graph c1

//graph c2

graphonprice indicator1 coloured(255,0,0,255) AS "Ema20"

graphonprice indicator2 coloured(0,0,255,255) AS "Ema200"

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Jodal

robertogozzi

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06/11/2022 at 9:35 AM #195125

Jodal

Thank you Roberto, I will have a look and get back to you if needed.

Enjoy your weekend!

Jodal

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