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Stop Loss Buy for Entry
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Created: by tahseen Attachments:0

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Stop Loss Buy for Entry

  #1 (permalink)
Trading Apprentice
Delhi India
 
Futures Experience: Intermediate
Platform: Meta Trader
Favorite Futures: Gold
 
Posts: 1 since Feb 2014
Thanks: 0 given, 0 received

Stop Loss Buy for Entry

I am trying to buy 2 pips above the previous candle high when the MACD cross above happens. Code is this

inputs: FastLength( 5 ), SlowLength( 70 ), MACDLength( 100 ) ;
variables: var0( 0 ), var1( 0 ), var2( 0 ) , var3(0);

var0 = MACD( Close, FastLength, SlowLength ) ;
var1 = XAverage( var0, MACDLength ) ;
var2 = var0 - var1 ;
var3 = High[1]+1.0;

condition1 = CurrentBar > 2 and var2 crosses over 0 ;
if condition1 then
Buy( "MacdLE" ) next bar at var3 stop;


But then when I am seeing the buy value, it is showing at High[1] only and not additional 1.0 point above

Can you please help?

Thanks

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  #2 (permalink)
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  #3 (permalink)
 Vendor: www.abctradinggroup.com 
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,777 since Apr 2013
Thanks: 283 given, 1,061 received


tahseen,

your code buys for the next market using the high from one bar ago. Which means at the time your order is sent you are using the high from two bars ago. The code is doing that fine and I didn't see wrong entries at High[1] only here.

To avoid issues I would suggest not to use something like High[1] + 1, but use pips/ticks instead like this:
 
Code
High[1] + (2 * (MinMove/PriceScale))
Regards,
ABCTG

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