How do you define the "current price" in pro order

• 11/03/2019 at 7:00 PM #111953
  jam

  I have made some code that returns no results in back testing. I use the 1Hr time frame and I want to buy in the next hour at a retracement level half way of the previous candle (high to low).

  To get the mid point of the previous candle I believe I use the MedianPrice[1] entry… please correct me if I am wrong.

  What I can’t figure out is how do I define the current price in the code… the best I can find (searching) is someone said use Close to define the current live price. So if I said open a position when Close = MedianPrice[1] does that mean it will open the position at the mid point of the previous candle? When I back test this and get no results, is that because the back test takes Close as being the close of the candle (which statistically would practically never equal the prior candle mid-point), but when running live will this actually buy in at the point I want, not the candle close at the end of the hour? … or have I got this completely messed up!

   

  1Hr TF enter position on mid-point of prior candle

  // Define variables EntryPrice = MedianPrice[1] LongCandle = Close[1] > Open[1] ShortCandle = Close[1] < Open[1] Capital = 1000 Equity = Capital + StrategyProfit PositionSize = round(Equity/1000) // Conditions to enter long positions IF CurrentDayOfWeek <> 0 AND IntradayBarIndex = 1 AND LongCandle AND Close = EntryPrice AND NOT LongOnMarket THEN BUY PositionSize CONTRACTS AT MARKET ELSE // Conditions to enter short positions IF CurrentDayOfWeek <> 0 AND IntradayBarIndex = 1 AND ShortCandle AND Close = EntryPrice AND NOT ShortOnMarket THEN SELLSHORT PositionSize CONTRACTS AT MARKET ENDIF ENDIF // Stops and targets : Enter your protection stops and profit targets here SET STOP LOSS AverageTrueRange[120] SET TARGET PROFIT 1.5*AverageTrueRange[120]

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  // Define variables EntryPrice = MedianPrice[1] LongCandle = Close[1] > Open[1] ShortCandle = Close[1] < Open[1] Capital = 1000 Equity = Capital + StrategyProfit PositionSize = round(Equity/1000) // Conditions to enter long positions IF CurrentDayOfWeek <> 0  AND IntradayBarIndex = 1 AND LongCandle AND Close = EntryPrice AND NOT LongOnMarket THEN BUY PositionSize CONTRACTS AT MARKET ELSE // Conditions to enter short positions IF CurrentDayOfWeek <> 0  AND IntradayBarIndex = 1 AND ShortCandle AND Close = EntryPrice AND NOT ShortOnMarket THEN SELLSHORT PositionSize CONTRACTS AT MARKET ENDIF ENDIF // Stops and targets : Enter your protection stops and profit targets here SET STOP LOSS AverageTrueRange[120] SET TARGET PROFIT 1.5*AverageTrueRange[120]

   

  

  jam

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  11/04/2019 at 8:27 AM #111977
  robertogozzi

  The current price is reported by CLOSE and it’s done at the end of every candlestick.

  Place a pending LIMIT or STOP order to achieve that using either SELLSHORT or BUY:

  BUY/SELLSHORT PositionSize CONTRACTS AT EntryPrice LIMIT //or STOP

  1	BUY/SELLSHORT PositionSize CONTRACTS AT EntryPrice LIMIT //or STOP

   

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  jam

  

  robertogozzi

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