BradParticipant
Junior
Good day all
Can someone please let me know if I have coded this correctly?
- Exit on a Friday if an open trade shows a value of -30 points or less at 21h20 UTC.
- Exit any open trade with a value of -80 points or less from bar 15 or more.
Regards
Brad
FloatingPoints = ((Close - POSITIONPRICE) * POINTVALUE) / POINTSIZE
FridayPoints = -30
NumberOfBars = 15
CutTheTradePoints = -80
//Exit Friday evening trades at 21h20 UCT if current points are less than -30
IF (DayOfWeek = 5 AND Time >= 212000) AND (FloatingPoints < FridayPoints) THEN
CloseFridayTrade = 1
ELSE
CloseFridayTrade = 0
ENDIF
//Exit the trade if after 15 bars the current points are less than -80
IF (BARINDEX - TRADEINDEX(1) >= NumberOfBars) AND (FloatingPoints < CutTheTradePoints) THEN
CuttingMyLosses = 1
ELSE
CuttingMyLosses = 0
ENDIF
JSParticipant
Senior
Hi
@Brad
Your code looks good… It’s just that it’s not an indicator or a trading system right now, so you can’t test the code…
Customize the code to make it a trading system or an indicator so that you can actually test and assess the code…
Hi Brad,
JS is right that it is not easy to see whether a real trading system will work out. However, in advance I think I can say this :
//Exit the trade if after 15 bars the current points are less than -80
IF (BARINDEX - TRADEINDEX(1) >= NumberOfBars) AND (FloatingPoints < CutTheTradePoints) THEN
CuttingMyLosses = 1
ELSE
CuttingMyLosses = 0
ENDIF
This may initially not exit when you would have a Pending Stop for this. Thus, at an initial bar which complies to above, the exit may not happen because the price is not met (again, when you’d use a Pending Stop), while at a next bar the condition may not be true any more because the loss is less than 80 again (e.g. 79). And because the construction of your code, CuttingMyLosses will be 0 again and no exit will happen.
This might be what you want.
If that is not what you want, you must introduce something like CuttingMyLossesSet. For example :
//Exit the trade if after 15 bars the current points are less than -80
// Don't forget the logic to reset CuttingMyLossesSet at the beginning of a new trade.
If Not CuttingMyLossesSet then
IF (BARINDEX - TRADEINDEX(1) >= NumberOfBars) AND (FloatingPoints < CutTheTradePoints) THEN
CuttingMyLosses = 1
CuttingMyLossesSet = 1
ELSE
CuttingMyLosses = 0
ENDIF
Endif
This may look overdone too some, but I know how decently you are trying to master (PRT) coding.
Peter
BradParticipant
Junior
Thanks, JS and Peter, for your feedback.
Looking at the code you supplied, Peter, does the logic remain the same if I write the code like this?
//Exit the trade if after 15 bars the current points are less than -80
IF NOT LongOnMarket THEN
CuttingMyLosses = 0
ENDIF
IF (BARINDEX - TRADEINDEX(1) >= NumberOfBars) AND (FloatingPoints < CutTheTradePoints) THEN
CuttingMyLosses = 1
ELSE
CuttingMyLosses = 0
ENDIF
Am I understanding your coding correctly?
(You are correct; I’m definitely trying to master/understand code logic to improve my coding).
Regards
Brad
To me the introduction of lines 3,4,5 looks more decent than without it. But I would have the same remarks as in my previous post. Please remember, those remarks are only valid when you’d use Pending Stops. Compare with this :
IF (BARINDEX - TRADEINDEX(1) >= NumberOfBars) AND (FloatingPoints < CutTheTradePoints) THEN
CuttingMyLosses = 1
Sell at Market
ELSE
CuttingMyLosses = 0
ENDIF
Now all is fine, and/but your CuttingMyLosses variable would do nothing. So that variable urges (in my mind) for something like
If CuttingMyLosses then
// Pending Stop logic here
Endif
And my previous post would be valid because the order may not be filled and your code will be called again with the position still there.
What remains is that it is difficult to brainstorm without seeing the full code.
But I am confident you got the gist already. 🙂
