Single candle breakout code

• 12/22/2016 at 9:05 AM #18965
  Dave

  HI, Could somebody look at the attached code and see if there is a problem with it?. Although I’ve managed a few successful ‘assisted creation back tests’, I’m totally new to writing it!. What I’m trying to do first is to place an order when price breaks either above or below the high/low of the 8.00 – 8.15(UK) m15 candle but when I run this in a backtest nothing happens?.

   

  Thanks,  Dave

  DEFPARAM CumulateOrders = False // Cumulating positions deactivated MaxPrice = highest[1](high) MinPrice = lowest[1](low) IF (TIME = 081500) AND (close > MaxPrice) THEN BUY 1 PERPOINT AT MARKET ENDIF IF (TIME = 081500) AND (close < MinPrice) THEN SELL 1 PERPOINT AT MARKET ENDIF SET STOP PLOSS 25 SET TARGET PPROFIT 10

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  DEFPARAM CumulateOrders = False // Cumulating positions deactivated     MaxPrice = highest[1](high) MinPrice = lowest[1](low) IF (TIME = 081500) AND (close > MaxPrice) THEN BUY 1 PERPOINT AT MARKET ENDIF IF (TIME = 081500) AND (close < MinPrice) THEN SELL 1 PERPOINT  AT MARKET ENDIF SET STOP PLOSS 25 SET TARGET PPROFIT 10

   

  

  Dave

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  12/22/2016 at 9:24 AM #18966
  Nicolas

  To make a breakout system you should first have a look on this video I made to how to build a break out box: http://www.prorealcode.com/blog/video-tutorials/create-breakout-box-2-hours/

  Then add pending stop orders at found levels to be sure trades will be successfully executed at that prices instead of testing if the close of the next candlestick is above or below which is often too late because of the not inside bar look (code is only read once at Close).

  Let us know how it goes and any additional questions.

  

  Nicolas

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  12/22/2016 at 9:58 AM #18967
  Dave

  Thanks Nicolas, If only I had seen the video beforehand – I could have saved myself a couple of hours of hair pulling!!. I will report back when I have tried a few ideas. Dave

  

  Dave

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