Time of candle opening vs time of candle closing

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  • 10/07/2024 at 9:41 AM #238562 quote
    Brad
    Participant
    Junior

    Hi All,

    Could someone please confirm the logic in the following code?

    IF (DayOfWeek = 1 AND Time <= 080000) THEN
   Trading = 0
ELSE
   Trading = 1
ENDIF

    The code specifies that no entries are allowed if it is Monday and the time is at or before 08:00.

    What happens if my trigger candle meets all the entry conditions, opens at 08:00, and closes at 08:15? Is this considered a valid entry, given that the candle closes at 08:15?

    Regards,
    Brad

    10/07/2024 at 10:14 AM #238568 quote
    GraHal
    Participant
    Master
    Brad wrote:

    trigger candle meets all the entry conditions, opens at 08:00

    But it wouldn’t meet the condition Time <= 080000, you would need to use Time < 080000?

    Brad thanked this post
    10/07/2024 at 10:28 AM #238569 quote
    Brad
    Participant
    Junior

    My concern is when testing it on the demo account, the trade is triggered.

    Screenshot-2024-10-07-112555.png Screenshot-2024-10-07-112555.png
    10/07/2024 at 10:48 AM #238577 quote
    GraHal
    Participant
    Master

    The candle that triggers the trade is the close of the 07:45 candle (which is < 080000) and then the trade is opened at 080000.

    Did you try it with Time < 080000 (not <=) is the trade still opened at 080000?

    EDIT / PS

    Just cheked your ss and the trade is opened at 081500 after being triggered at the close of the 080000 candle … so that is correct as your code??

    Iván González and Brad thanked this post
    10/07/2024 at 11:02 AM #238580 quote
    Iván González
    Moderator
    Master

    Exactly. As Grahal says, the activation occurs on the previous candle. The reason is that the condition Time <= 080000 is true on the previous candle (at the close of the candle it is already 8:00).

    Brad thanked this post
    10/07/2024 at 11:31 AM #238582 quote
    Brad
    Participant
    Junior

    So, to avoid confusion, is the demo entry correct, as seen in the screenshot?

    10/07/2024 at 11:53 AM #238583 quote
    GraHal
    Participant
    Master

    Yes, demo entry is correct as per your code … IF (DayOfWeek = 1 AND Time <= 080000) THEN

    Brad thanked this post
    10/07/2024 at 12:17 PM #238585 quote
    Brad
    Participant
    Junior

    Thanks for the clarification, gents. That means a live trade was not triggered.

    10/07/2024 at 3:15 PM #238604 quote
    robertogozzi
    Moderator
    Master

    If you run this code you will se the entry ARROW plotted just under the candle labelled 08:00 every Monday, since the trade is actually entered at 08:00 because the order is placed when the 07:45 candle closes:

    IF OnMarket THEN
   SELL at Market
ENDIF
IF (DayOfWeek = 1 AND Time = 080000) THEN
   BUY at MArket
ENDIF

    replacing line 4 by this one, you will se the entry ARROW plotted just under the candle labelled 08:15 every Monday, since the trade is actually entered at 08:15 because the order is placed when the 08:00 candle closes.

    IF (DayOfWeek = 1 AND OpenTime = 080000) THEN
    Iván González, Brad and druby thanked this post
    10/09/2024 at 1:00 PM #238773 quote
    Brad
    Participant
    Junior

    Thanks Roberto

    Small changes can make big differences!

    robertogozzi thanked this post
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Time of candle opening vs time of candle closing


ProOrder: Automated Strategies & Backtesting

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Brad @bradkinsey-2 Participant
Summary

This topic contains 9 replies,
has 4 voices, and was last updated by Brad
1 year, 4 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 10/07/2024
Status: Active
Attachments: 1 files
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