Take position after initial movement after open

• 06/07/2023 at 2:58 PM #215766
  123harry

  Hi,

  I am trying to create a code that helps me with placing two orders.

  • One sellshort x1% below the opening price
  • one buy order X2% above the opening price.

  When one of these is opened, the other one should be cancelled.

  The order that is executed should have a SET TARGET %PROFIT of X3
  and a SET STOP %LOSS X4.

  Super grateful for any assistance!

  

  123harry

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  06/08/2023 at 1:44 AM #215805
  robertogozzi

  There you go:

  ONCE x1 = 0.20 //0.20% ONCE x2 = 0.20 //0.20% ONCE x3 = 0.50 //0.50% ONCE x4 = 0.25 //0.25% ONCE Distance = 0 //distance require by the broker, if any IF Not OnMarket THEN // LongEntry = open + (open * x2 / 100) IF close > (LongEntry + Distance*PipSize) THEN BUY 1 Contract at LongEntry LIMIT ELSIF close < (LongEntry - Distance*PipSize) THEN BUY 1 Contract at LongEntry STOP ELSE //BUY 1 Contract at MARKET //enter at MARKET when the distance is not enough ENDIF // ShortEntry = open - (open * x1 / 100) IF close > (ShortEntry + Distance*PipSize) THEN SELLSHORT 1 Contract at ShortEntry STOP ELSIF close < (ShortEntry - Distance*PipSize) THEN SELLSHORT 1 Contract at ShortEntry LIMIT ELSE //SELLSHORT 1 Contract at MARKET //enter at MARKET when the distance is not enough ENDIF ENDIF SET TARGET %PROFIT x3 SET STOP %LOSS x4 //graphonprice LongEntry coloured("Green") //graphonprice ShortEntry coloured("Red")

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  ONCE x1       = 0.20  //0.20% ONCE x2       = 0.20  //0.20% ONCE x3       = 0.50  //0.50% ONCE x4       = 0.25  //0.25% ONCE Distance = 0     //distance require by the broker, if any IF Not OnMarket THEN // LongEntry = open + (open * x2 / 100) IF close > (LongEntry + Distance*PipSize) THEN BUY 1 Contract at LongEntry LIMIT ELSIF close < (LongEntry - Distance*PipSize) THEN BUY 1 Contract at LongEntry STOP ELSE //BUY 1 Contract at MARKET            //enter at MARKET when the distance is not enough ENDIF // ShortEntry = open - (open * x1 / 100) IF close > (ShortEntry + Distance*PipSize) THEN SELLSHORT 1 Contract at ShortEntry STOP ELSIF close < (ShortEntry - Distance*PipSize) THEN SELLSHORT 1 Contract at ShortEntry LIMIT ELSE //SELLSHORT 1 Contract at MARKET      //enter at MARKET when the distance is not enough ENDIF ENDIF SET TARGET %PROFIT x3 SET STOP   %LOSS   x4 //graphonprice LongEntry  coloured("Green") //graphonprice ShortEntry coloured("Red")

  the pending orders that haven’t been triggered are automatically cancelled when a candle closes.

  Be warned that it’s not possible to prevent both of them from being triggered, as PRT has no control over pending orders once they are sent to the broker, until the candle closes. If both pending orders are triggered, the latter one will close the first one triggered, as there cannot be opposite trades open at the same time.

   

  

  robertogozzi

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  06/08/2023 at 9:16 AM #215821
  123harry

  Many thanks Roberto!

  Seems to be working fine! When using this “live” (i.e. not back testing) I suppose I would be able to define “max position” as 1 contract which would in practice cancel the other pending order thus preventing both to be triggered. Would that be correct?

   

   

  

  123harry

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  06/08/2023 at 11:55 AM #215848
  robertogozzi

  I never tried it, but I don’t think so, as max positions is a directive to ProRealTime. But PRT loses control over orders as soon as thay are sent to the broker.

  You can have a try…

   

  

  robertogozzi

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