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Programming third profitable close
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Created: by edgeseek Attachments:0

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Programming third profitable close

 
Trading Apprentice
Riyadh, Saudi Arabia
 
Futures Experience: None
Platform: TradeStation
Favorite Futures: ES
 
Posts: 5 since Feb 2017
Thanks: 0 given, 0 received

Programming third profitable close

Hey all,

I'm trying to program a strategy to exit on the third profitable close.

But I have had success only to program it to exit on one profitable close only.

Would appreciate the help if any..
 
Code
If marketposition = 1 and  close > entryprice Then
	Sell 1 contract this bar close;

 
 
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 Vendor: www.abctradinggroup.com 
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,846 since Apr 2013
Thanks: 301 given, 1,130 received
Forum Reputation: Legendary


edgeseek,

how exactly do you define the "third profitable close", can you provide an example?

Regards,

ABCTG

The following user says Thank You to ABCTG for this post:
 
 
Trading Apprentice
Riyadh, Saudi Arabia
 
Futures Experience: None
Platform: TradeStation
Favorite Futures: ES
 
Posts: 5 since Feb 2017
Thanks: 0 given, 0 received

I would define it as third close larger than entry price:

Close > Entry price .....first profitable close ( do nothing)

Close > Entry Price .... second profitable close ( do nothing)

Close > Entry Price ..... third profitable close (Take as third profitable close)

I hope this explains it clearly

 
 
 Vendor: www.abctradinggroup.com 
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,846 since Apr 2013
Thanks: 301 given, 1,130 received
Forum Reputation: Legendary

edgeseek,

do you mean three bars have to Close above the entry price while you are in a trade?
If that is the case you have to program your own counter. Use a variable and add +1 to it when your condition is met.
Then when the counter variable is >= 3 trigger your exit.

Finally you only have to reset it after the trade, at the beginning of a new trade or when the Close is below your entry price - depending on what you have in mind of course.

Regards,

ABCTG

 
 
Trading Apprentice
Riyadh, Saudi Arabia
 
Futures Experience: None
Platform: TradeStation
Favorite Futures: ES
 
Posts: 5 since Feb 2017
Thanks: 0 given, 0 received

That is exactly what I was thinking. If you can please explain how to setup the variable and the counter variable I have googled a lot and couldn't find anything specific related to this.

 
 
 Vendor: www.abctradinggroup.com 
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,846 since Apr 2013
Thanks: 301 given, 1,130 received
Forum Reputation: Legendary

edgeseek,

I would suggest to take a look at the EL Essentials PDF, this will cover a lot of the required basics.

Post the code you did so far based on the possible solution I wrote and I will gladly look it and steer you in the right direction.

Regards,

ABCTG


 



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