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Basic MC Signal question
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Created: by NWItrader Attachments:0

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Basic MC Signal question

  #1 (permalink)
Trading Apprentice
Rice Lake Wisconsin
 
Futures Experience: Intermediate
Platform: multicharts
Favorite Futures: stocks
 
Posts: 5 since Jun 2013
Thanks: 0 given, 0 received

Basic MC Signal question

Hello All- In spite of hundreds of hours working with MultiCharts I would put myself squarely in the beginner column. So bear with me.

I have been backtesting various strategies and expanding my easylanguage vocabulary.

It appears to me that a signal ending with with something of the form:

If Condition1 and Condition2 and Condition3 and Condition4

Then
Sell (or Buy)...

Is functionally equivalent to :

If Condition1 and Condition2

Then

If Condition3 and Condition4

Then

Buy (or Sell)...

So if I have this right, in either layout Condition 1, 2 and 3 and 4 must be true simultaneously for a signal to be generated.

What I want to do is create a signal that is tiered so that when the first group of conditions are true they will act as a permanent ON trigger (which will remain ON even if the conditions are no longer all true)to allow the program to wait for a second group of conditions to become true which finally execute the Buy or Sell.

Is this possible? Thanks

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  #2 (permalink)
 Vendor: tradingcode.net 
The Netherlands
 
Futures Experience: None
Platform: MultiCharts, TradingView
Favorite Futures: ...
 
Jura's Avatar
 
Posts: 774 since Apr 2010
Thanks: 2,347 given, 661 received


NWItrader View Post
What I want to do is create a signal that is tiered so that when the first group of conditions are true they will act as a permanent ON trigger (which will remain ON even if the conditions are no longer all true)to allow the program to wait for a second group of conditions to become true which finally execute the Buy or Sell.

Hm, perhaps like this?

 
Code
Variables:
    firstCondition(false),
    secondCondition(false);
  
firstCondition = (Condition1 and Condition2) or firstCondition[1];

secondCondition = (Condition3 and Condition4);

if (firstCondition and secondCondition) then begin

    // Buy or sell here

end;
Here the `firstCondition` variable is either `Condition1 and Condition2` or the previous bar value (`firstCondition[1]`). That means that, when the previous bar value was true, `firstCondition` will be true for this bar also.

Because the `firstCondition` variable is created with an initial value of `false`, it can only become true when `Condition1 and Condition2` are true. But then it will keep its `true` value because of `firstCondition[1]`.

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  #3 (permalink)
Trading Apprentice
Rice Lake Wisconsin
 
Futures Experience: Intermediate
Platform: multicharts
Favorite Futures: stocks
 
Posts: 5 since Jun 2013
Thanks: 0 given, 0 received

Thanks for the help


Thanks for the idea After considerable work I couldn't get the code to execute. Something hiding in there the software didn't like. But I changed direction bit and ended up with a signal I like. When I have time I will work look at it again.

One question- Was your suggestion a new idea you thought of in response to my question, or a general layout you have used in a working signal? Thanks again.

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