Enter position only once for a level

• 05/04/2024 at 9:50 AM #232319
  ashehzi

  Hi,

  I want to trade a level only once and do not want to enter the trade same level twice. But below code isn’t working:

  RTHoperate = (TIME > 142000 AND TIME < 203000) // GMT+1

  if time < 143000 then
  spread = 2
  else
  spread = 1
  endif

  MyLongPrice = round(max(myBarLower, myBarUpper))
  distance = abs(myBarHigh – myBarLow)

  if NOT ONMARKET and RTHoperate and close > MyLongPrice then  and (MyLongPrice <> tradeprice[1]) then

  SET STOP PLOSS distance + spread
  set target pprofit distance*20
  endif

  Above code (if no market …) keep rentering the same location.

  2nd question: If i want to go long using the same myLongPrice twice, what protection I can put in the code?

  Regards

  Ash

  

  ashehzi

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  05/05/2024 at 4:37 PM #232345
  robertogozzi

  You can use the previous entry price exactly, but the two prices are unlikely to be identical, even to the decimal point!
  This example divides the price by 100 (but you can change it to 50 or 10, etc…), in this way it is easy for the price of the new entry to be in the same range as the previous one and therefore the entry is not made:

  DEFPARAM CUMULATEORDERS = False ONCE myDivisor = 100 ONCE EntryLevel = 0 myLONGconditions = close CROSSES OVER Average[20,0](close) mySHORTconditions = close CROSSES UNDER Average[20,0](close) CurrentLevel = round(close / myDivisor,0) IF Not OnMarket AND CurrentLevel <> EntryLevel THEN IF myLONGconditions THEN BUY 1 Contract AT MARKET EntryLevel = round(close / myDivisor,0) ELSIF mySHORTconditions THEN SELLSHORT 1 Contract AT MARKET EntryLevel = round(close / myDivisor,0) ENDIF ENDIF SET STOP pLOSS 100 SET TARGET pPROFIT 200 graphonprice CurrentLevel * myDivisor coloured("Blue") graph myLONGconditions coloured("Blue") graph mySHORTconditions coloured("Red")

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

  DEFPARAM CUMULATEORDERS = False   ONCE myDivisor  = 100 ONCE EntryLevel = 0   myLONGconditions  = close CROSSES OVER  Average[20,0](close) mySHORTconditions = close CROSSES UNDER Average[20,0](close)   CurrentLevel = round(close / myDivisor,0)   IF Not OnMarket AND CurrentLevel <> EntryLevel THEN    IF myLONGconditions THEN       BUY 1 Contract AT MARKET       EntryLevel = round(close / myDivisor,0)    ELSIF mySHORTconditions THEN       SELLSHORT 1 Contract AT MARKET       EntryLevel = round(close / myDivisor,0)    ENDIF ENDIF SET STOP   pLOSS   100 SET TARGET pPROFIT 200 graphonprice CurrentLevel * myDivisor coloured("Blue") graph myLONGconditions  coloured("Blue") graph mySHORTconditions coloured("Red")

   

  

  robertogozzi

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