Exit on the close of the candle

• 03/03/2024 at 11:17 AM #229134
  WhyAskOZ

  HI All

   

  I am looking for simple code to exit the trade when weekly signal close?

  The strategy i am working on is using weekly signals which enters the trade if weekly candle from previous week closed above SMA5  and exit that trade at the end of the week (i.e. Friday close of market).

  so in the strategy how do i write the code to close the trade at the end of Friday ?

   

  Thanks in Advance.

   

  

  WhyAskOZ

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  03/03/2024 at 11:34 AM #229135
  phoentzs

  This only works via MTF in a smaller time frame.

  If onmarket and Time>=220000 and dayofweek=5 then Sell at market Exitshort at market ENDIF

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  If onmarket and Time>=220000 and dayofweek=5 then Sell at market Exitshort at market ENDIF

  

  phoentzs

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  03/04/2024 at 10:46 AM #229174
  Iván

  Good morning. First you have to define the indicators in the weekly timeframe and then go down to a timeframe lower than the daily one so that it allows you to close before the market closes. For example, if you use a 1H timeframe then you can close the position on Friday at 21:00. It would be something like this:

  defparam cumulateorders = false timeframe (weekly) sma5 = average[5](close) timeframe(1h) if close > sma5 and dayofweek=5 and time >210000 then buy 10000 cash at market endif if onmarket and dayofweek=5 and time > 200000 and time < 220000 then sell at market endif graphonprice sma5 coloured("red")

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  defparam cumulateorders = false timeframe (weekly) sma5 = average[5](close)   timeframe(1h) if close > sma5 and dayofweek=5 and time >210000 then buy 10000 cash at market endif   if onmarket and dayofweek=5 and time > 200000 and time < 220000 then sell at market endif   graphonprice sma5 coloured("red")

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  WhyAskOZ

  

  Iván

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  03/06/2024 at 4:59 AM #229296
  WhyAskOZ

  Ivan

  why is the time frame used 21000 or 20000 ? what does 3pm means ? as currently code sell stock at 4pm in Australia time which is basically not the best time to sell stock and i want to set it as 3pm then what will be time value ?

  

  WhyAskOZ

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  03/06/2024 at 9:49 AM #229307
  Iván

  Hi!
  Sorry… I wrote the code for Europe…
  In Spain NYSE ends at 22:00, so that’s why I wrote 21:00. In Australia you should write the correct time.
  You just need to change time and it will work.

  

  Iván

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