cascade ordering system

• 11/18/2023 at 1:02 AM #223879
  ullle73

  I saw an interesting strategy. I need help coding it, looked really promising.

  Base numbers: Stock ABC is at 100 (attached image for a clearer view)

  • Buy 1 lot when rsi 3 crosses above 70 (follow momentum)
  • Set SL: x points (example 10 points)
  • Set TP y points (example 20 points)
  • If TP is hit, we open lot #2 and move  both SL to 5 points below lot #2 entry (we opened the buy in ABC at 100, moved to our TP at 120, we open lot #2 at 120,  SL for both lots are at 115)
  • If SL is hit, exit all positions
  • If new TP at 140 is hit, open lot #3, set SL for all 3 lots at 5 points below lot #3 entry.
  • Repeat until SL is hit.
  • Reverse the rules for shorts.

   

  

  ullle73

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  11/26/2023 at 9:23 PM #224330
  ullle73

  hoping for Roberto to save the day 😀

  

  ullle73

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  11/27/2023 at 12:57 PM #224393
  Monochrome

  Here’s some code to get started. Courtesy of chatpgt –

   

  // Initial setup DEFPARAM CumulateOrders = False // Each order is treated separately DEFPARAM FlatAfter = 235900 // Close all positions at the end of the day // Parameters Lot1EntryPrice = 100 SLPoints = 10 TPPoints = 20 SLAdjustment = 5 LotSize = 1 // Size of each lot // RSI calculation RSI3 = RSI[3](close) // Conditions BuyCondition = RSI3 crosses over 70 SellCondition = RSI3 crosses under 30 // State variables to keep track of lots NumLots = 0 TotalEntryPrice = 0 // Buying Logic IF BuyCondition AND NumLots = 0 THEN BUY LotSize CONTRACT AT MARKET SetStop = Lot1EntryPrice - SLPoints SetTarget = Lot1EntryPrice + TPPoints NumLots = 1 TotalEntryPrice = Lot1EntryPrice ENDIF IF NumLots > 0 AND close >= TotalEntryPrice + (TPPoints * NumLots) THEN BUY LotSize CONTRACT AT MARKET NumLots = NumLots + 1 TotalEntryPrice = TotalEntryPrice + close SetStop = close - SLAdjustment ENDIF // Selling Logic IF SellCondition AND NumLots = 0 THEN SELLSHORT LotSize CONTRACT AT MARKET SetStop = Lot1EntryPrice + SLPoints SetTarget = Lot1EntryPrice - TPPoints NumLots = 1 TotalEntryPrice = Lot1EntryPrice ENDIF IF NumLots > 0 AND close <= TotalEntryPrice - (TPPoints * NumLots) THEN SELLSHORT LotSize CONTRACT AT MARKET NumLots = NumLots + 1 TotalEntryPrice = TotalEntryPrice + close SetStop = close + SLAdjustment ENDIF // Exiting Logic IF (LongOnMarket AND close <= SetStop) OR (ShortOnMarket AND close >= SetStop) THEN SELL AT MARKET exitSHORT AT MARKET NumLots = 0 TotalEntryPrice = 0 ENDIF

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  // Initial setup DEFPARAM CumulateOrders = False // Each order is treated separately DEFPARAM FlatAfter = 235900 // Close all positions at the end of the day   // Parameters Lot1EntryPrice = 100 SLPoints = 10 TPPoints = 20 SLAdjustment = 5 LotSize = 1 // Size of each lot   // RSI calculation RSI3 = RSI[3](close)   // Conditions BuyCondition = RSI3 crosses over 70 SellCondition = RSI3 crosses under 30   // State variables to keep track of lots NumLots = 0 TotalEntryPrice = 0   // Buying Logic IF BuyCondition AND NumLots = 0 THEN BUY LotSize CONTRACT AT MARKET SetStop = Lot1EntryPrice - SLPoints SetTarget = Lot1EntryPrice + TPPoints NumLots = 1 TotalEntryPrice = Lot1EntryPrice ENDIF   IF NumLots > 0 AND close >= TotalEntryPrice + (TPPoints * NumLots) THEN BUY LotSize CONTRACT AT MARKET NumLots = NumLots + 1 TotalEntryPrice = TotalEntryPrice + close SetStop = close - SLAdjustment ENDIF   // Selling Logic IF SellCondition AND NumLots = 0 THEN SELLSHORT LotSize CONTRACT AT MARKET SetStop = Lot1EntryPrice + SLPoints SetTarget = Lot1EntryPrice - TPPoints NumLots = 1 TotalEntryPrice = Lot1EntryPrice ENDIF   IF NumLots > 0 AND close <= TotalEntryPrice - (TPPoints * NumLots) THEN SELLSHORT LotSize CONTRACT AT MARKET NumLots = NumLots + 1 TotalEntryPrice = TotalEntryPrice + close SetStop = close + SLAdjustment ENDIF   // Exiting Logic IF (LongOnMarket AND close <= SetStop) OR (ShortOnMarket AND close >= SetStop) THEN SELL AT MARKET exitSHORT AT MARKET NumLots = 0 TotalEntryPrice = 0 ENDIF

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  robertogozzi

  

  Monochrome

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  11/27/2023 at 1:21 PM #224396
  PeterSt

  My eye fell on this :

  NumLots = 0 TotalEntryPrice = 0

  1 2	NumLots = 0 TotalEntryPrice = 0

  And with this it may have a chance :

  Once NumLots = 0 Once TotalEntryPrice = 0

  1 2	Once NumLots = 0 Once TotalEntryPrice = 0

  🙂

  

  PeterSt

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