Plotting horizontal line

October 23rd, 2019, 02:34 PM

Hi guys,

New to Tradestation/EasyLanguage, it's only bee a week or so.

I'm trying to develop a strategy that places a limit order when a strong candle is formed at the high/low of the bar prior to the strong candle. I've been searching around for a way to deal with the fact that limit orders are cancelled at the end of the "next" bar.

To remedy this, I'm attempting to create an indicator that plots a horizontal line using the following logic:

If we have a "strong" up candle, draw line (place limit order) at the high of the bar prior to the "strong" candle.
If we have a "strong" down candle, draw line (place limit order) at the low of the bar prior to the "strong" candle.

As a side note, I've noticed that when I try to use "is_big_bar" in the if statement that plots the lines, it reacts differently to when I place the formula.

The problem is that these lines are sloped, rather than horizontal. Can anyone point me in the right direction, whether how to just have the limit order exist without getting cancelled, or with the indicator?

Code

inputs: bar_size_limit(2);
vars: limit_price(0), is_big_bar(false), down_bar(false), up_bar(false);

If absvalue(open-close) > bar_size_limit then
	is_big_bar = true;

If close < open then
	down_bar = true;

If close > open then
	up_bar = true;


If absvalue(open-close) > bar_size_limit then begin
	if down_bar then
		plot1(low[1]);
	If up_bar then
		Plot2(high[1]);
end;

ABCTG · October 24th, 2019, 03:37 AM

ReximusMaximus,

for drawing lines you might want to look into trend lines or horizontal lines. These are drawing objects and will do what you have in mind.

In general orders are cancelled when your conditions for the order are no longer true. You can use this to keep your orders alive by using conditions that you keep valid as long as you want.
You can for example use a Boolean variable that you set to true when your conditions are fulfilled and then only use this variable to issue your order. When you are filled or when you don't want to issue the order anymore you could set this variable back to false.

Regards,

ABCTG

October 29th, 2019, 01:53 PM

ABCTG

ReximusMaximus,

for drawing lines you might want to look into trend lines or horizontal lines. These are drawing objects and will do what you have in mind.

In general orders are cancelled when your conditions for the order are no longer true. You can use this to keep your orders alive by using conditions that you keep valid as long as you want.
You can for example use a Boolean variable that you set to true when your conditions are fulfilled and then only use this variable to issue your order. When you are filled or when you don't want to issue the order anymore you could set this variable back to false.

Regards,

ABCTG

Thanks for the suggestion.

I've tried a million things over the last several days and am back to trying to plot horizontal lines, assuming I'll be able to reference them in the code for the strategy (not sure if that's possible).

Can't share the link because I only have 2 posts, but I found some info about drawing lines.

I've tried to plot a simple line to see how that works, but I am definitely doing something wrong.

Can you help point me in the right direction?

Code

using elsystem.drawingobjects;
using elsystem; 

vars: horizontalline myline(null);

If 	Time = 825 then
		myline = horizontalline.create(close);

DrawingObjects.Add(myline);

ABCTG · October 30th, 2019, 04:59 AM

ReximusMaximus,

you don't have to add your drawing to DrawingObjects on every code cycle. It is enough to add it when you create the drawing object. With the way you wrote the code you might also run into an error when myLine is still null and the code tries to add that to DrawingObjects.

Regards,

ABCTG

ReximusMaximus

Thanks for the suggestion.

I've tried a million things over the last several days and am back to trying to plot horizontal lines, assuming I'll be able to reference them in the code for the strategy (not sure if that's possible).

Can't share the link because I only have 2 posts, but I found some info about drawing lines.

I've tried to plot a simple line to see how that works, but I am definitely doing something wrong.

Can you help point me in the right direction?

Code

using elsystem.drawingobjects;
using elsystem; 

vars: horizontalline myline(null);

If 	Time = 825 then
		myline = horizontalline.create(close);

DrawingObjects.Add(myline);

Plotting horizontal line

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Plotting horizontal line