Distinguishing between long and short trades, and long and short exits

• 07/11/2016 at 3:13 PM #10398
  merc1203

  Is it possible to distinguish between the following 4 types of changes in position?

  Long entry

  Long exit (on stop)

  Short entry

  Short exit (on stp)

  In an algo that checks for both long entry’s and short entry’s, I want only to enter a new long at a HIGHER price than the previous long entry, and a new short at a LOWER price than the previous short entry.

  This may or may not be higher/lower than the previous TRADE as the last trade could be an exit on stop which in effect I want to ignore

  Thanks

  

  merc1203

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  07/11/2016 at 5:55 PM #10400
  Nicolas

  You can retrieve the open price of each previous trade with TRADEPRICE instruction. This way you can decide to take position higher or lower than this price.

   

  

  Nicolas

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  07/11/2016 at 7:24 PM #10403
  merc1203

  Yes – but the question is, how do I distinguish between the different types of trades, as described above. I guess from your answer this is not possible?

  What happens if the sequence of trades is 1) sell, 2) sell, 3) buy and 4) sell stopped out. I then want to sell more. How do I isolate the last sell price – tradeprice(3)? – and distinguish it from tradeprice(2) – the buy – and tradeprice(1) – the sell stopped out?

  

  merc1203

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  07/11/2016 at 9:32 PM #10405
  mr.brymas

  Not really sure what you mean but you don´t write “sell” when you want to short. You write it like this:

  //buy long

  If blabla then

  buy 1 contract at market

  //sell long

  If blabla then

  sell at market

   

  /enter short

  If blabla then

  sellshort 1 contract at market

   

  //exit short

  If blabla then

  exitshort at market

  

  mr.brymas

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  07/12/2016 at 8:01 AM #10409
  Nicolas

  Try to give a variable a value when you launch a buy or a sell order, like this:

  if conditionlong then buy 1 share at market a = 1 //trade is a buy order endif if conditionshort then sellshort 1 share at market a = -1 //trade is a sell order endif

  1 2 3 4 5 6 7 8 9

  if conditionlong then buy 1 share at market a = 1 //trade is a buy order endif   if conditionshort then sellshort 1 share at market a = -1 //trade is a sell order endif

  Then if you want to know what were the direction of the previous 3rd trade, you can access to the variable “a” with a little barindex play:

  longORshort = a[barindex-tradeindex(3)]

  1	longORshort = a[barindex-tradeindex(3)]

  So if “longORshort” return -1, then you know that your previous 3rd trade from now was a sell order.

  I have not tested it, but it should work .. I think 🙂

   

  

  Nicolas

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