exit end of day

• 11/03/2016 at 8:31 PM #15943
  Abz

  hello

  is there a prameter for exit end of day without using time? when testing on daily chart i want the system to close the position at end of day.

  

  Abz

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  11/04/2016 at 7:47 AM #15952
  Elsborgtrading

  Hi Abz, I think there will always be a definition on when is the end of the day- So you cannot ignore time. I mainly use two definition.

  defparam flatbefore=080000//no positions open before defparam flatafter=170000//all position will be closed after

  1 2	defparam flatbefore=080000//no positions open before defparam flatafter=170000//all position will be closed after

  or

  //Trade hours- only opens positions during these hours. IF (Time >= 08000 AND Time <= 113000) OR (Time >= 130000 AND Time <= 170000) THEN // no trading during lunch Tradetime=1 else Tradetime=0 endif if <what ever condition> and tradetime then etc.. etc...

  1 2 3 4 5 6 7 8 9

  //Trade hours- only opens positions during these hours. IF (Time >= 08000 AND Time <= 113000) OR (Time >= 130000 AND Time <= 170000) THEN // no trading during lunch Tradetime=1 else Tradetime=0 endif   if <what ever condition> and tradetime then etc.. etc...

   

  

  Elsborgtrading

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  11/04/2016 at 3:20 PM #15978
  Stef

  PRT will always exit on the next bar open. There is no way to set it to exit on bar close.

  

  Stef

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  11/05/2016 at 12:26 PM #15995
  Elsborgtrading

  Hi Stef. what is the difference? bar close= next bar open

   

  

  Elsborgtrading

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  11/05/2016 at 3:29 PM #16003
  Stef

  No. Bar open is not necessarily previous bar’s close. Think of instruments for which there is a defined market open and close – more often than not, the price will open higher or lower than the previous market close. With auction markets, there is also an auction in the morning before the market opens or before it closes in the afternoon. After the pre-market or post-market  auction, chances are that the next open will not equal the previous close. Another example would be for instruments where there is a lack of liquidity. Next bar can open anywhere, depending on where the next trade happens to take place.

  I guess it depends on what you are trading and what timeframes. For some markets and instruments it is not necessarily an issue. But still, you cannot assume this to be the case.

  PS: Some trading platforms allow you define backtests with ‘OPEN ON CURRENT BAR CLOSE’ vs ‘OPEN ON NEXT BAR OPEN’ – although automated trading systems have a hard time trading ‘ ON CURRENT BAR CLOSE.’

  Stef

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  Elsborgtrading

  

  Stef

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