US Crude – 1st Day of month

• 01/29/2019 at 7:22 PM #89977
  Lisa Beaney

  Hi,

  I’m coding a strategy that places two orders on the system based on the value of US crude on the first day of the month. Both can trigger but one is cancelled if the other hits target. The problem I’ve got is that I end up with multiple orders if a trade triggers and hits stop within the same candle. I know there is most probably a simple answer but I’m struggling to see it at the moment….

  Lisa

  US Crude daily chart

  // Definition of code parameters DEFPARAM CumulateOrders = True // Cumulating positions deactivated once cHitTarget = 1 // Check if this is the first trading day of the month If OpenDay<=4 and OpenDayOfWeek>=1 and OpenDayOfWeek<=5 and opendate-firstdayofmonth>4 then firstdayofmonth = opendate //Calculate entry and exit points, stops and limits cLongTrade = high + 5 cShortTrade = low + 5 CStop = (high-low)/2 cTarget = high - low CHitTarget = 0 endif if (close > cLongTrade + CTarget) OR (close < cShortTrade - cTarget) then cHitTarget = 1 endif // Need to stop it taking multiple trades graph tradeprice(1) graph cLongtrade Graph cShortTrade If not longonmarket AND NOT cHitTarget AND tradeprice(1) <> cLongTrade then BUY 1 PERPOINT AT cLongTrade STOP endif If not shortonmarket AND NOT cHitTarget AND tradeprice(1) <> cShortTrade then SellShort 1 PERPOINT AT cShortTrade STOP endif // Stops and targets SET STOP pLOSS cStop SET TARGET pPROFIT cTarget //SET STOP pTRAILING LBSTOP

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  // Definition of code parameters DEFPARAM CumulateOrders = True // Cumulating positions deactivated   once cHitTarget = 1     // Check if this is the first trading day of the month   If OpenDay<=4 and OpenDayOfWeek>=1 and OpenDayOfWeek<=5 and opendate-firstdayofmonth>4 then     firstdayofmonth = opendate   //Calculate entry and exit points, stops and limits cLongTrade = high + 5 cShortTrade = low + 5 CStop = (high-low)/2 cTarget = high - low CHitTarget = 0   endif   if (close > cLongTrade + CTarget) OR (close < cShortTrade - cTarget) then cHitTarget = 1 endif     // Need to stop it taking multiple trades   graph tradeprice(1) graph cLongtrade Graph cShortTrade   If not longonmarket AND NOT cHitTarget AND tradeprice(1) <> cLongTrade then BUY 1 PERPOINT AT cLongTrade STOP   endif   If not shortonmarket AND NOT cHitTarget AND tradeprice(1) <> cShortTrade then SellShort 1 PERPOINT AT cShortTrade STOP   endif     // Stops and targets SET STOP pLOSS cStop SET TARGET pPROFIT cTarget //SET STOP pTRAILING LBSTOP

   

  

  Lisa Beaney

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  01/29/2019 at 8:10 PM #89979
  robertogozzi

  You have to save your STRATEGYPROFIT so that when not OnMarket you can check if it’s different from the previous bar. If is is because a trade was triggered and close in ust one bar.

  ONCE MyProfit = 0 TradeTriggered = 0 IF Not OnMarket THEN IF MyProfit <> STRATEGYPROFIT THEN TradeTriggered = 1 MyProfit = STRATEGYPROFIT ENDIF ENDIF

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  ONCE MyProfit  = 0 TradeTriggered = 0 IF Not OnMarket THEN    IF MyProfit <> STRATEGYPROFIT THEN       TradeTriggered = 1       MyProfit = STRATEGYPROFIT    ENDIF ENDIF

  You can then check TradeTriggered to take any action you need to take.

  It could be foolished in the very unlikely case a trade is triggered and yields 0.

   

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  robertogozzi

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  01/30/2019 at 9:18 AM #90004
  Nicolas

  There is no simple answer. In fact, since the code is only read one time at Close, you cannot interact in the bar to “delete” the other pending order. Bear in mind, that pending orders can’t be canceled, they expire after 1 bar and we need to set them continuously if we want them to still be present.

  So in order to not set them if an order has triggered within the current bar, the best way to do is to use a lower timeframe (with the ease of the TIMEFRAME instruction) to make a simple ‘IF ONMARKET’ test.

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  Nicolas

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  01/30/2019 at 11:04 AM #90017
  Lisa Beaney

  Thank you both; I’ve come up with this version that now checks to see if the last trade was long or short as well as using the strategy profit 🙂 The only times it doesn’t quite work is if the long and short trades are both triggered and hit stop in the same candle…..

  What I think I’ll work on next is to run this on an hourly timeframe so I can check for the trades a bit more accurately and then use the timeframe(daily) to set the levels of the orders and check for the first trading day of the month. Last time I tried using the multiple timeframes I found it worked on my demo account but not on my live account (it wasn’t yet available for live accounts)

  US Crude First Day of Month Trades

  // Definition of code parameters DEFPARAM CumulateOrders = True // Cumulating positions deactivated once cHitTarget = 1 ONCE MyProfit = 0 graph LongTriggered Graph ShortTriggered // Check if this is the first trading day of the month If OpenDay<=4 and OpenDayOfWeek>=1 and OpenDayOfWeek<=5 and opendate-firstdayofmonth>4 then firstdayofmonth = opendate //Calculate entry and exit points, stops and limits cLongTrade = high + 5 cShortTrade = low + 5 CStop = (high-low)/2 cTarget = high - low CHitTarget = 0 LongTriggered = 0 ShortTriggered = 0 endif if (close > cLongTrade + CTarget) OR (close < cShortTrade - cTarget) then // Check to see if the target has been hit (long or short) cHitTarget = 1 endif IF Not OnMarket THEN IF MyProfit < STRATEGYPROFIT THEN // Just had a winning trade IF tradeprice(1) > tradeprice(2) then LongTriggered = 1 else ShortTriggered = 1 ENDIF MyProfit = STRATEGYPROFIT ENDIF IF MyProfit > STRATEGYPROFIT THEN // Just had a losing trade IF tradeprice(1) < tradeprice(2) then LongTriggered = 1 else ShortTriggered = 1 ENDIF MyProfit = STRATEGYPROFIT ENDIF ENDIF // Need to stop it taking multiple trades If not longonmarket AND NOT cHitTarget AND NOT LongTriggered then BUY 1 PERPOINT AT cLongTrade STOP endif If not shortonmarket AND NOT cHitTarget AND NOT ShortTriggered then SellShort 1 PERPOINT AT cShortTrade STOP endif // Stops and targets SET STOP pLOSS cStop SET TARGET pPROFIT cTarget //SET STOP pTRAILING LBSTOP

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  // Definition of code parameters DEFPARAM CumulateOrders = True // Cumulating positions deactivated   once cHitTarget = 1 ONCE MyProfit  = 0   graph LongTriggered Graph ShortTriggered   // Check if this is the first trading day of the month   If OpenDay<=4 and OpenDayOfWeek>=1 and OpenDayOfWeek<=5 and opendate-firstdayofmonth>4 then     firstdayofmonth = opendate   //Calculate entry and exit points, stops and limits cLongTrade = high + 5 cShortTrade = low + 5 CStop = (high-low)/2 cTarget = high - low CHitTarget = 0 LongTriggered = 0 ShortTriggered = 0   endif   if (close > cLongTrade + CTarget) OR (close < cShortTrade - cTarget) then // Check to see if the target has been hit (long or short) cHitTarget = 1 endif   IF Not OnMarket THEN IF MyProfit < STRATEGYPROFIT THEN // Just had a winning trade IF tradeprice(1) > tradeprice(2) then LongTriggered = 1 else ShortTriggered = 1 ENDIF MyProfit = STRATEGYPROFIT ENDIF   IF MyProfit > STRATEGYPROFIT THEN // Just had a losing trade IF tradeprice(1) < tradeprice(2) then LongTriggered = 1 else ShortTriggered = 1 ENDIF MyProfit = STRATEGYPROFIT ENDIF   ENDIF // Need to stop it taking multiple trades       If not longonmarket AND NOT cHitTarget AND NOT LongTriggered then BUY 1 PERPOINT AT cLongTrade STOP   endif   If not shortonmarket AND NOT cHitTarget AND NOT ShortTriggered then SellShort 1 PERPOINT AT cShortTrade STOP   endif     // Stops and targets SET STOP pLOSS cStop SET TARGET pPROFIT cTarget //SET STOP pTRAILING LBSTOP

   

  

  Lisa Beaney

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  01/30/2019 at 11:32 AM #90020
  Vonasi

  I’ve not looked closely at your code but why not split the code into two strategies – a long one and a short one?

  I think if you request to have MTF turned on on your live account then it can be done – but do bear in mind that it is still in beta testing which is why everyone does not have it yet!

  

  Vonasi

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  01/30/2019 at 12:12 PM #90028
  Lisa Beaney

  I did think of that but I need to know if either trade has hit target and then stop the order for the other trade being placed…. the basic rules are :

  Oil Trades

  Daily Chart
  First trading day of the month (Mon-Fri)
  Find the low and high of the day and calculate the daily range

  Stop = ½ range
  Target = range

  Long order 5 pips above the high
  Short order 5 pips below the low

  Cancel 2^ndorder when profit is hit on the first order.

  I’ll continue with the code and when I’m happy that it’s working on demo I’ll ask to have MTF switched on 🙂

  

  Lisa Beaney

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