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Entry directly on outside bar?
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Created: by Orjan Attachments:1

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Entry directly on outside bar?

  #1 (permalink)
Trading Apprentice
Stockholm Sweden
 
Futures Experience: Intermediate
Platform: Multicharts
Favorite Futures: Futures, forex
 
Posts: 20 since Apr 2012
Thanks: 12 given, 2 received

Entry directly on outside bar?

Hi, I want to go long directly when an outside bar is formed. When previous bar low has already been taken out I want to go long one tick above the prevoius bar high. I use IntrabarOrderGeneration and Bar Magnifier in Multicharts.

The problem is that sometime Multicharts goes long despite the outside bar is formed the opposite way (high first and low thereafter). What may the solution be? Is there a way to code to ensure that Multicharts checks in which chronological order low and high of previous bar is exceeded?

My code:

If Marketposition = 0 AND L<L[1] Then Buy next bar at H[1] + 0.0001 or higher ;
If Marketposition = 1 then sell next bar at entryprice + PTlong or higher;
If Marketposition = 1 then sell this bar at Close;

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Last edited by Orjan; December 27th, 2014 at 11:36 AM.
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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,534 since Apr 2013
Thanks: 231 given, 855 received
Forum Reputation: Legendary


Orjan,

Multicharts did exactly what you coded - how should it know that you want the low to be taken out first when you didn't program that?
Having said that, you can use a boolean variable that you set to true when Close < Low[1] (of course the variable needs to be intrabarpersist and you need to use the bar magnifier). Then you can use this variable's value in your entry condition check. On a new bar you simply set this variable back to false.

This will do what you have in mind.

Regards,
ABCTG


Orjan View Post
Hi, I want to go long directly when an outside bar is formed. When previous bar low has already been taken out I want to go long one tick above the prevoius bar high. I use IntrabarOrderGeneration and Bar Magnifier in Multicharts.

The problem is that sometime Multicharts goes long despite the outside bar is formed the opposite way (high first and low thereafter). What may the solution be? Is there a way to code to ensure that Multicharts checks in which chronological order low and high of previous bar is exceeded?

My code:

If Marketposition = 0 AND L<L[1] Then Buy next bar at H[1] + 0.0001 or higher ;
If Marketposition = 1 then sell next bar at entryprice + PTlong or higher;
If Marketposition = 1 then sell this bar at Close;


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The following user says Thank You to ABCTG for this post:
 
  #4 (permalink)
Trading Apprentice
Stockholm Sweden
 
Futures Experience: Intermediate
Platform: Multicharts
Favorite Futures: Futures, forex
 
Posts: 20 since Apr 2012
Thanks: 12 given, 2 received

ABCTG

Thanks. The problem was that when I made the manual check of the trades I was not aware of at which time the sessions breaks between days are set in the chart. They are set to 17.00. So now my code seems to be doing what I want.

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