Breakout Strategy on the candle stick – please Help!!

• 02/12/2018 at 6:22 PM #62467
  crolakstrading

  Hi Nicolas and all,

  I have creates a simple breakout strategy.. which triggers on the 1 hour chart.. when the 3am candle stick closed it will put an buy stop order 10 pips above the highest high of that 3am candle.. please see below!!

  it will only trigger if the next candle reach 10pips above the highs? but if 5th candle reach the buy stop order it wont trigger?? please if anyone can help get this sorted?

  aslo how can i add a Stoploss 10pips below the low on the 3am candle??

  please help!!

  Breakout on the candle stick

  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <060000) // Timeframe : H1 if time=030000 then value=high // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN EntryPrice = (high) + (10* pipsize) BUY 1 CONTRACTS AT EntryPrice STOP ENDIF // Stops and targets : Enter your protection stops and profit targets here // points based STOP LOSS and TRAILING STOP // initial STOP LOSS SET STOP pLOSS 50 //set target of positions at 50 points SET TARGET PROFIT 50 ENDIF

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  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <060000) // Timeframe : H1   if time=030000 then value=high   // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN EntryPrice = (high) + (10* pipsize) BUY 1 CONTRACTS AT EntryPrice STOP ENDIF   // Stops and targets : Enter your protection stops and profit targets here // points based STOP LOSS and TRAILING STOP // initial STOP LOSS SET STOP pLOSS 50 //set target of positions at 50 points SET TARGET PROFIT 50 ENDIF

  

  crolakstrading

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  02/12/2018 at 10:06 PM #62491
  Despair

  Your condition is only true once. So the strategy will place a stop order that is always valid for one bar. If you want it to be active longer you have to repeat the order.

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  crolakstrading

  

  Despair

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  02/13/2018 at 9:47 AM #62529
  crolakstrading

  thanks but how can i repeat the order? and add a Stoploss 10pips below the low on the 3am candle??

  

  crolakstrading

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  02/13/2018 at 12:49 PM #62584
  robertogozzi

  Move ENDIF from line 20 to line 7.

  

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  02/13/2018 at 12:59 PM #62586
  robertogozzi

  I suggest this modified code

  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <060000) // Timeframe : H1 if time=030000 then value = high StopLoss = range + (10 * pipsize) //10 pips below LOW ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN BUY 1 CONTRACTS AT Value STOP SET STOP LOSS StopLoss ENDIF //set target of positions at 50 points SET TARGET pPROFIT 50

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  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <060000) // Timeframe : H1 if time=030000 then    value    = high    StopLoss = range + (10 * pipsize)   //10 pips below LOW ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN    BUY 1 CONTRACTS AT Value STOP    SET STOP LOSS StopLoss ENDIF //set target of positions at 50 points SET TARGET pPROFIT 50

   

   

  

  robertogozzi

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  02/13/2018 at 1:28 PM #62591
  crolakstrading

  hi Roberto,

  Thanks once again for your attention! i have tried to change abit..

  Entryprice should be 10 pips above the high of 3am candle and should work as a stop order lets say if 6 am candle goes higher and the entryprice should be still 10pips high of that 3 am candle high!!

  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <060000) // Timeframe : H1 if time=030000 then value = high StopLoss = range + (10 * pipsize) //10 pips below LOW EntryPrice = (high) + (10* pipsize) ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF OnMarket THEN SET STOP LOSS StopLoss ENDIF //set target of positions at 50 points SET TARGET pPROFIT 50 //or SET PROFIT 50 * pipsize

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <060000) // Timeframe : H1 if time=030000 then value    = high StopLoss = range + (10 * pipsize)   //10 pips below LOW EntryPrice = (high) + (10* pipsize) ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF OnMarket THEN SET STOP LOSS StopLoss ENDIF //set target of positions at 50 points SET TARGET pPROFIT 50                 //or SET PROFIT 50 * pipsize

  10pip higher the high of 3am is the entry and 10pip below the low of 3am is stoploss!!

   

   

  

  crolakstrading

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  02/13/2018 at 1:30 PM #62592
  robertogozzi

  It should work!

  

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  02/13/2018 at 5:56 PM #62627
  crolakstrading

  seems like it give the Stoploss just the low of the candle.. i have change  StopLoss = range + (20 * pipsize) which gives the right Stoploss!! it will enter perfect at the entryprice but it aslo get another two entries randomly.. not sure why?

  please see pic below:

  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <060000) // Timeframe : H1 if time=030000 then value = high StopLoss = range + (20 * pipsize) //10 pips below LOW EntryPrice = (high) + (10* pipsize) ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF OnMarket THEN SET STOP LOSS StopLoss ENDIF //set target of positions at 50 points SET TARGET pPROFIT 50 //or SET PROFIT 50 * pipsize

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <060000) // Timeframe : H1 if time=030000 then value    = high StopLoss = range + (20 * pipsize)   //10 pips below LOW EntryPrice = (high) + (10* pipsize) ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF OnMarket THEN SET STOP LOSS StopLoss ENDIF //set target of positions at 50 points SET TARGET pPROFIT 50                 //or SET PROFIT 50 * pipsize

   

  

  crolakstrading

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  02/13/2018 at 6:13 PM #62636
  robertogozzi

  My fault, just change line 7 so that it reads

  StopLoss = high - (range + (20 * pipsize))

  1	StopLoss = high - (range + (20 * pipsize))

  this should work also with 10 pips offset, rather than 20.

  

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  02/15/2018 at 9:36 PM #62867
  crolakstrading

  Hi Roberto..

  I have manage to get pretty much the right entry and the stoploss.. thanks. i have change the time period 3am to 9am to trigger..

  so for this now i have added to go short if short triggered.. please if you be kind enough to check below code if its correct? i have attached pic on GBPUSD.. please if you can check this on GBPUSD would be great!!!

  the idea is.. if long triggered the short order should cancel automatically and also if short triggered the long order should cancel.. is this possible??

  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <=090000) // Timeframe : H1 if time=030000 then value = high value1 = low EntryPrice = (high) + (10* pipsize) EntryPrice1 = (low) - (10 * pipsize) StopLoss = range + (20 * pipsize) //10 pips below LOW StopLoss1 = range + (20 * pipsize) //10 pips above HIGH ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF OnMarket THEN SET STOP LOSS StopLoss ENDIF // Conditions to enter Short positions IF NOT ShortOnMarket AND tradingtime and value1 THEN SEllSHORT 1 CONTRACTS AT EntryPrice1 STOP ENDIF IF OnMarket THEN SET STOP LOSS StopLoss1 ENDIF //set target of positions at 50 points SET TARGET pPROFIT 50 //or SET PROFIT 50 * pipsize

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

  DEFPARAM CumulateOrders = False tradingtime=(time >= 030000 and time <=090000) // Timeframe : H1 if time=030000 then value    = high value1   = low EntryPrice = (high) + (10* pipsize) EntryPrice1 = (low) - (10 * pipsize) StopLoss = range + (20 * pipsize)   //10 pips below LOW StopLoss1 = range + (20 * pipsize)   //10 pips above HIGH ENDIF // Conditions to enter long positions IF NOT LongOnMarket AND tradingtime and value THEN BUY 1 CONTRACTS AT EntryPrice STOP ENDIF IF OnMarket THEN SET STOP LOSS StopLoss ENDIF   // Conditions to enter Short positions IF NOT ShortOnMarket AND tradingtime and value1 THEN SEllSHORT 1 CONTRACTS AT EntryPrice1 STOP ENDIF IF OnMarket THEN SET STOP LOSS StopLoss1 ENDIF //set target of positions at 50 points SET TARGET pPROFIT 50                 //or SET PROFIT 50 * pipsize

   

   

  

  crolakstrading

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  02/19/2018 at 10:33 PM #63221
  crolakstrading

  ?

   

  

  crolakstrading

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  02/20/2018 at 8:14 AM #63252
  Nicolas

  It’s not possible to cancel pending order. Since they last only 1 period, the only way for them to get out from market is to wait 1 bar.

  

  Nicolas

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  02/20/2018 at 10:16 AM #63272
  crolakstrading

  ah ok!! if i remove the tradingtime will that mean.. it will trigger any time after 3am.. will it trigger only once either way? its seems like if it gets trigger to go long and the stop loss or the profit target hit with in 3am and 9am.. it will place another order to go long for some reason? any reason why?

   

   

  

  crolakstrading

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  02/20/2018 at 11:51 AM #63284
  robertogozzi

  crolakstrading wrote:

  ah ok!! if i remove the tradingtime will that mean.. it will trigger any time after 3am… will it trigger only once either way? its seems like if it gets trigger to go long and the stop loss or the profit target hit with in 3am and 9am.. it will place another order to go long for some reason? any reason why?

  No, it will trigger at all time, after 3am and before 3am the following day, then new values will be assigned to variables.
  It may be triggered either ways (and that may happen more than once either way) as long as the Entry prices are hit.

  If you only want to enter ONCE, no matter which direction, then you just have to clear VALUE and VALUE1 when OnMarket.

  If, instead, you want to enter ONCE per direction, then you just have to clear VALUE when LongOnMarket and VALUE1 when ShortOnMarket.

  But it may happen that the trade is opened and closed within the same candle… then you can only tell a trade had been entered by comparing STRATEGYPROFIT at each candlestick. If the two values are not identical, you may assume a trade has been entered and closed in one bar!

   

   

   

  

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