Accumulating orders after 3 pips increase

• 06/30/2017 at 3:15 PM #39510
  Juan Salas

  Hi everyone,

  Before the weekend starts, I wanted to ask anyone here how to code (with DEFPARAM Cumulateorders = true) increasing orders every 3 pips.

  Right now, I have coded it, and it open new orders every 3 pips, but start at the beginning of the next candle. Since I am working on large TFs (30 min, 1 hour), I would like to know the exact coding trick so I can open new orders in the same candlestick right after 3 pips.

  Right now is:

  IF LONGONMARKET AND Close-TRADEPRICE(1)> 3*pipsize AND MAXCONTRACTS THEN
  BUY 1 CONTRACTS AT MARKET
  ENDIF

  I understand that “AT MARKET” will open the order at the opening of next candle (regardless is long or short), but I have tried changing it with other formulas and doesn`t work.

  I would appreciate any suggestions.

  Many thanks and have a great weekend,

  Juan

  

  Juan Salas

  Participant

  Topics: 39

  Replies: 246

  Been thanked: 63 times
  06/30/2017 at 3:45 PM #39512
  Nicolas

  This is the normal behavior because your script is only read one time per bar at Close.

  You can try to put pending stop orders at +3 pips like this:

  IF LONGONMARKET AND MAXCONTRACTS THEN BUY 1 CONTRACTS AT TRADEPRICE(1)+3*pipsize STOP ENDIF

  1 2 3

  IF LONGONMARKET AND MAXCONTRACTS THEN BUY 1 CONTRACTS AT TRADEPRICE(1)+3*pipsize STOP ENDIF

  But be aware that 3 pips from the current Close is certainly too close to put a STOP order, it depends of instrument though… Should of course work beautifully in backtests 🙂

  1 user thanked author for this post.

  manel

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4775 times
  06/30/2017 at 7:28 PM #39522
  Juan Salas

  Hi Nicolas,

  Thanks for your message. I knew it was possible because I read it before in one of your post, but I couldn’t find it.

  I am aware that 3 pips is a very short distance, but I wanted to know the coding. I am working with relatively big timeframes (30′, 1h, 4h) and I wanted the accumulation to happen within the same candlestick. In any case, depending the case I will adapt the pips and the number of orders to the right scenario.

  Thanks so much Nicolas!

  Best,

  Juan

  

  Juan Salas

  Participant

  Topics: 39

  Replies: 246

  Been thanked: 63 times
• Author
  Posts