"EXITSHORT" command not closing a short position

• 12/28/2016 at 5:49 PM #19266
  Munkanu

  Hi there,

  I am running the code below, which is meant to exit a short position if it closes above the 50EMA, and then quit the code.

  The command to exit the short and then quit is at the bottom of the code below. Strangely, it successfully quits the code, meaning it must be running the code within this IF statement, but it does not exit the short position. Instead it quits the code and leaves the position open. Can you help me figure out why?

  Many thanks

  Chris

  //------------------------------------------------------------------------- // Main code : MegaTrend1 //------------------------------------------------------------------------- //------------------------------------------------------------------------- // //------------------------------------------------------------------------- // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated //Define the indicators i1 = close i2 = ExponentialAverage[20](close) i3 = ExponentialAverage[50](close) //define the conditions for actions c1 = (i1 > i2) //close above the 20MA c2 = (i1 < i2) //close below the 20MA c3 = (I1 < i3) //price closes under the 50MA c4 = (i1 > i3) //price closes above the 50MA Trend = CALL "UpTrend/DownTrend" //call the up/down trend indicator UpTrend = (Trend = 1) //uptrend in action DownTrend = (Trend = -1) //downtrend in action //Money Management Capital = 35000 //Starting pot of £35k Risk = 0.01 //1% risk on each trade IF UpTrend then StopLoss = close-i3 // Initial stop loss at 50EMA ENDIF IF DownTrend then StopLoss = i3-close ENDIF //Calculate position size equity = Capital + StrategyProfit //Initial capital + current profits maxrisk = round(equity*Risk) //Equity times 1% rounded to whole number PositionSize = abs(round((maxrisk/StopLoss)/PointValue)*pipsize) // Conditions to enter positions IF NOT ONMARKET THEN IF c1 THEN IF UpTrend THEN BUY PositionSize PERPOINT AT MARKET SET STOP pLOSS StopLoss ENDIF ENDIF IF c2 THEN IF DownTrend THEN SELLSHORT PositionSize PERPOINT AT MARKET SET STOP pLOSS StopLoss ENDIF ENDIF ENDIF // Conditions to exit positions IF LONGONMARKET THEN IF c3 THEN SELL AT MARKET QUIT ENDIF ENDIF IF SHORTONMARKET THEN IF c4 THEN EXITSHORT AT MARKET QUIT ENDIF ENDIF

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  //------------------------------------------------------------------------- // Main code : MegaTrend1 //------------------------------------------------------------------------- //------------------------------------------------------------------------- // //------------------------------------------------------------------------- // Definition of code parameters DEFPARAM CumulateOrders = False // Cumulating positions deactivated   //Define the indicators i1 = close i2 = ExponentialAverage[20](close) i3 = ExponentialAverage[50](close)   //define the conditions for actions c1 = (i1 > i2) //close above the 20MA c2 = (i1 < i2) //close below the 20MA c3 = (I1 < i3) //price closes under the 50MA c4 = (i1 > i3) //price closes above the 50MA Trend = CALL "UpTrend/DownTrend" //call the up/down trend indicator UpTrend = (Trend = 1) //uptrend in action DownTrend = (Trend = -1) //downtrend in action //Money Management Capital = 35000 //Starting pot of £35k Risk = 0.01 //1% risk on each trade   IF UpTrend then StopLoss = close-i3 // Initial stop loss at 50EMA ENDIF   IF DownTrend then StopLoss = i3-close ENDIF   //Calculate position size equity = Capital + StrategyProfit //Initial capital + current profits maxrisk = round(equity*Risk) //Equity times 1% rounded to whole number PositionSize = abs(round((maxrisk/StopLoss)/PointValue)*pipsize)   // Conditions to enter positions IF NOT ONMARKET THEN IF c1 THEN IF UpTrend THEN BUY PositionSize PERPOINT AT MARKET SET STOP pLOSS StopLoss ENDIF ENDIF   IF c2 THEN IF DownTrend THEN SELLSHORT PositionSize PERPOINT AT MARKET SET STOP pLOSS StopLoss ENDIF ENDIF ENDIF   // Conditions to exit positions IF LONGONMARKET THEN IF c3 THEN SELL AT MARKET QUIT ENDIF ENDIF   IF SHORTONMARKET THEN IF c4 THEN EXITSHORT AT MARKET QUIT ENDIF ENDIF

   

  

  Munkanu

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  12/28/2016 at 9:01 PM #19300
  GraHal

  Hi Munkanu

  Try below and let us know how you get on.

  <span class="token keyword">IF</span> <span class="token keyword">SHORTONMARKET</span> AND c4 <span class="token keyword">THEN</span> <span class="token keyword">EXITSHORT</span> <span class="token keyword">AT</span> <span class="token keyword">MARKET</span> <span class="token keyword">QUIT</span> <span class="token keyword">ENDIF </span>

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  <span class="token keyword">IF</span> <span class="token keyword">SHORTONMARKET</span> AND c4 <span class="token keyword">THEN</span> <span class="token keyword">EXITSHORT</span> <span class="token keyword">AT</span> <span class="token keyword">MARKET</span> <span class="token keyword">QUIT</span> <span class="token keyword">ENDIF   </span>

  Cheers
  GraHal

  

  GraHal

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  12/28/2016 at 9:34 PM #19303
  Munkanu

  Hi GraHal,

  Many thanks for your reply. I have tried this and still get the same result – the code quits (meaning the IF statement seems to be working) but the short position is left open (meaning the EXITSHORT command) does not seem to be working. Very odd.

  Not sure what to try next as the code looks fine, can anyone help? Am I missing an argument on the EXITSHORT command?

  Many thanks

  Chris

   

  

  Munkanu

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  12/28/2016 at 9:46 PM #19304
  JC_Bywan

  I’ve never used “quit” pretty much at the same time as sending an order, so I’m only wondering here, rather than talking from experience: could it be that “quit” is instantaneous in such a way that the “exitshort at market” order is cancelled at the same time as exiting the strategy before it has any chance of being executed? Might be worth trying to delay your “quit” instruction by at least one candle after sending the exitshort order, just to see if it gives more time for the exitshort order to happen…

  

  JC_Bywan

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  12/28/2016 at 10:15 PM #19307
  JC_Bywan

  To delay by one candle, many ways to do it, but for example something like this should allow for the experiment:

  adding at the beginning of the code :

  quitting=0

  1	quitting=0

  and modifying the end with:

  IF SHORTONMARKET THEN IF c4 THEN EXITSHORT AT MARKET quitting = 1 ENDIF ENDIF if quitting[1]=1 then quit endif

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  IF SHORTONMARKET THEN IF c4 THEN   EXITSHORT AT MARKET   quitting = 1 ENDIF ENDIF if quitting[1]=1 then quit endif

   

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  GraHal

  

  JC_Bywan

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  12/28/2016 at 11:35 PM #19314
  Munkanu

  Thank you Noobywan – good point about the quit command. I’ll just remove it for now and see if it makes a difference, then will try your code suggestion. I’ll update tomorrow.

  Best regards

   

  

  Munkanu

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