Help with understanding EL bar references

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Hello,

I need some help understanding how to reference previous bars within EL. I am working on a strategy that trades based on if the previous bar was an outside bar.

Entry:

Code

[IntrabarOrderGeneration = false]

if OutsideBar( High, Low ) and Close > Open then
	Buy ( !( "OutBarLE" ) ) next bar at High limit;

Exit:

Code

[IntrabarOrderGeneration = true]

if MarketPosition <> 0 then
	Sell ( "Exit Name" ) next bar at EntryPrice + 0.10 limit ;

The problem is when I go to set the price for my limit order it does not reference the high of the previous bar (the outside bar) but rather the high of the current bar (which just ends up being the open). When I attempt to use High[1] to reference the previous bar it references the bar behind the outside bar. I've attached screenshots for more detail.

Obviously there is something I'm not understanding about how bars are referenced. If someone is willing to enlighten me I would appreciate it.

kevinkdog · (login for full post details)

oldhickory

Hello,

I need some help understanding how to reference previous bars within EL. I am working on a strategy that trades based on if the previous bar was an outside bar.

Entry:

Code

[IntrabarOrderGeneration = false]

if OutsideBar( High, Low ) and Close > Open then
	Buy ( !( "OutBarLE" ) ) next bar at High limit;

What you are doing here is evaluating the CURRENT bar to see if it is an outside bar. And you want to see if the bar before this one is an outside bar, right?

Couple ways to do it, I'd do it this way (easiest way to read):

Code

var:obBar(False);

obBar=OutsideBar(High,Low) ;  //ObBar will be true if this bar is outside bar, false if not

if ObBar[1] and Close > Open then  //is previous bar an outside bar?
	Buy ( !( "OutBarLE" ) ) next bar at High limit;

Help with understanding EL bar references

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Help with understanding EL bar references

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