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Incorrect trading signals using renko bars on data stream 2
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Created: by mattyham Attachments:0

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Incorrect trading signals using renko bars on data stream 2

 
Ottawa, Ontario
 
Trading Experience: Advanced
Platform: MultiCharts
Favorite Futures: ES, oil
 
Posts: 1 since Feb 2015
Thanks: 1 given, 0 received

Incorrect trading signals using renko bars on data stream 2

Hi. I am trying to create a simple automated trading signal that uses a renko chart on data stream 2 to generate signals at the close of a full renko bar, and then enter/exit trades on a time based bar chart on data stream 1. Nothing fancy, just trying to learn how to do this sort of thing. Backtesting on the code I have created indicates that it "works", but testing in real-time is another story. It seems to be entering trades before a full renko bar on data stream 2 has actually closed. In my settings, I have intrabar order generation off. Can anyone point out where I am going wrong. The code is as follows:

[IntrabarOrderGeneration = false] ;

Condition1 = close of data2 > open of data2 and close[1] of data2 < open[1] of data2 ;
Condition2 = close of data2 < open of data2 and close[1] of data2 > open[1] of data2 ;

If CurrentBar > 1 and BarStatus(1) of data2 = 2 and condition1 and marketposition = 0 then begin
Buy ( "LE" ) next bar at market ;
end ;

If CurrentBar > 1 and BarStatus(1) of data2 = 2 and condition2 and marketposition > 0 then begin
Sell ( "LX" ) next bar at market ;
end ;

 
 
Legendary  Vendor: www.abctradinggroup.com 
Hamburg Germany
 
Trading Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 2,055 since Apr 2013
Thanks: 360 given, 1,299 received

Answer
This post has been selected as an answer to the original posters question Answer

mattyham,

your code might use BarStatus incorrectly.


Quoting 
BarStatus(DataNum)

Where: DataNum - a numerical expression specifying the data number of the series

If DataNum is not specified, a value for the current data series will be returned.

The print reserved word might be helpful for you to evaluate the internal values of variables and reserved word within your code.


Regards,

ABCTG

The following user says Thank You to ABCTG for this post:

 



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Tags
automated trading, backtesting, code, data, data series, how to, intrabar, intrabarordergeneration, ma, marketposition, multicharts, ream, renko, renko chart, signal, signals, trading

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