Setting a pending order while on market

• 02/18/2017 at 9:47 PM #25540
  kg6450

  Hi all, I was scrolling through other forums looking for ideas and I came across one that looks interesting.

  The link is here if anyone’s interested and the premise is to enter on the 9th bar (hour) of the day based on a certain pattern with a 10 point target and stop. If the stop is hit, a pending order is placed of twice the size 5 points away for reentry in the opposite direction.

  The code I have so far is:

  DEFPARAM CumulateOrders = False //Buy patterns Buy1 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close > Open) Buy2 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close > Open) Buy3 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close < Open) Buy4 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close > Open) //Sell patterns Sell1 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close < Open) Sell2 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close < Open) Sell3 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close > Open) Sell4 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close < Open) //Check pattern at 9th bar of the day Check = (INTRADAYBARINDEX = 8) IF Check THEN IF Buy1 OR Buy2 OR Buy3 OR Buy4 THEN Buy 1 SHARES AT MARKET ELSIF Sell1 OR Sell2 OR Sell3 OR Sell4 THEN SELL 1 SHARES AT MARKET ENDIF ENDIF SET TARGET pPROFIT 10 SET STOP pLOSS 10

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  DEFPARAM CumulateOrders = False   //Buy patterns Buy1 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close > Open) Buy2 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close > Open) Buy3 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close < Open) Buy4 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close > Open)   //Sell patterns Sell1 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close < Open) Sell2 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close < Open) Sell3 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close > Open) Sell4 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close < Open)   //Check pattern at 9th bar of the day Check = (INTRADAYBARINDEX = 8)   IF Check THEN IF Buy1 OR Buy2 OR Buy3 OR Buy4 THEN Buy 1 SHARES AT MARKET ELSIF Sell1 OR Sell2 OR Sell3 OR Sell4 THEN SELL 1 SHARES AT MARKET ENDIF ENDIF   SET TARGET pPROFIT 10 SET STOP pLOSS 10

  What I’m struggling to set at the moment is the pending orders part, Does anyone know a way to set it?

  

  kg6450

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  02/19/2017 at 11:07 AM #25577
  Nicolas

  So you have already coded the first part of the strategy? right?
  and now you are stuck here? :

  kg6450 wrote:

  If the stop is hit, a pending order is placed of twice the size 5 points away for reentry in the opposite direction.

   

  

  Nicolas

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  02/19/2017 at 6:46 PM #25632
  kg6450

  Hi Nicholas,

  Yes the code I posted was the basic coding of the patterns (the bullish and bearish candles). The part that I’m struggling with is the setting of the pending order for the opposite direction if the stop is it

  

  kg6450

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  02/19/2017 at 7:17 PM #25638
  Nicolas

  So there is only 2 trades possible each day? The first one at intradaybarindex=8 and the “recovery” one which is a pending order?

  What do you mean by ” twice the size 5 points away ” ?

  

  Nicolas

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  02/19/2017 at 10:08 PM #25657
  kg6450

  Yeah that’s right, on the 8th bar, it will take a position depending based on what pattern formed. It will also set a pending order 5 points away from the stop loss level.

  Sorry, by that I meant twice the size of the original position; so after the 8th bar we enter at £1 per point, and the pending order is set at £2 per point.

  I’m sorry if I’m explaining it badly!

  

  kg6450

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  02/21/2017 at 12:06 PM #25881
  Nicolas

  Ok good, this code attempt should be tested (forum coding):

  DEFPARAM CumulateOrders = False if intradaybarindex=0 then count=0 endif //Buy patterns Buy1 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close > Open) Buy2 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close > Open) Buy3 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close < Open) Buy4 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close > Open) //Sell patterns Sell1 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close < Open) Sell2 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close < Open) Sell3 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close > Open) Sell4 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close < Open) //Check pattern at 9th bar of the day Check = (INTRADAYBARINDEX = 8) IF Check and count=0 THEN IF Buy1 OR Buy2 OR Buy3 OR Buy4 THEN Buy 1 SHARES AT MARKET count=count+1 direction = 1 ELSIF Sell1 OR Sell2 OR Sell3 OR Sell4 THEN SELLSHORT 1 SHARES AT MARKET count=count+1 direction = -1 ENDIF ENDIF //recovery trade if count=1 and positionperf(1)<0 then if direction>0 then sellshort 2 shares at positionprice-15*pointsize stop endif if direction<0 then buy 2 shares at positionprice+15*pointsize stop endif if onmarket then count=count+1 endif endif SET TARGET pPROFIT 10 SET STOP pLOSS 10

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  DEFPARAM CumulateOrders = False   if intradaybarindex=0 then count=0 endif   //Buy patterns Buy1 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close > Open) Buy2 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close > Open) Buy3 = (Close[2] > Open[2]) AND (Close[1] > Open[1]) AND (Close < Open) Buy4 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close > Open)   //Sell patterns Sell1 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close < Open) Sell2 = (Close[2] < Open[2]) AND (Close[1] > Open[1]) AND (Close < Open) Sell3 = (Close[2] < Open[2]) AND (Close[1] < Open[1]) AND (Close > Open) Sell4 = (Close[2] > Open[2]) AND (Close[1] < Open[1]) AND (Close < Open)   //Check pattern at 9th bar of the day Check = (INTRADAYBARINDEX = 8)   IF Check and count=0 THEN IF Buy1 OR Buy2 OR Buy3 OR Buy4 THEN   Buy 1 SHARES AT MARKET   count=count+1   direction = 1 ELSIF Sell1 OR Sell2 OR Sell3 OR Sell4 THEN   SELLSHORT 1 SHARES AT MARKET   count=count+1   direction = -1 ENDIF ENDIF   //recovery trade if count=1 and positionperf(1)<0 then if direction>0 then   sellshort 2 shares at positionprice-15*pointsize stop endif if direction<0 then   buy 2 shares at positionprice+15*pointsize stop endif if onmarket then   count=count+1 endif endif   SET TARGET pPROFIT 10 SET STOP pLOSS 10

   

  

  Nicolas

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  02/21/2017 at 8:30 PM #25976
  kg6450

  Thanks Nicholas, I’ll test it and run it on demo for a while and let you know how it goes!

  

  kg6450

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