Profit_Target signal: how it works ??!!

January 31st, 2020, 11:03 AM

Hope somebody can shed some light on how the "Profit_Target" signal works.
I've tested it in my Live and Demo accounts with completely different and inconsistent results.

My understanding is that "Profit_Target" signal closes a position with a Limit order to ensure the number of ticks configured. Parameters:
>IsPositionBasis: if the profit is per total Position (true), if Contract (false)
>Amount: Number of ticks

My configuration:
>IsPositionBasis: false (so per Contract)
>Amount: 8 (ticks)

Traded: Nasdaq
Sold 6 contracts @9,153.75 Market
Buy Limit 6 @9,153.25

This is a 0.50 usd difference in price. Expected to be 2.0 instead because of 8 ticks configured.

Any help is appreciated.

February 1st, 2020, 10:16 AM

I don't know whether the Nasdaq have the limit order which is send to CME group.
If CME group didn't have limit order ,the limit order will be send when Multicharts receive the price and send the market order.
So it will be "Slip" .

February 3rd, 2020, 12:04 PM

JohnJo

Hope somebody can shed some light on how the "Profit_Target" signal works.
I've tested it in my Live and Demo accounts with completely different and inconsistent results.

My understanding is that "Profit_Target" signal closes a position with a Limit order to ensure the number of ticks configured. Parameters:
>IsPositionBasis: if the profit is per total Position (true), if Contract (false)
>Amount: Number of ticks

My configuration:
>IsPositionBasis: false (so per Contract)
>Amount: 8 (ticks)

Traded: Nasdaq
Sold 6 contracts @9,153.75 Market
Buy Limit 6 @9,153.25

This is a 0.50 usd difference in price. Expected to be 2.0 instead because of 8 ticks configured.

Any help is appreciated.

Hello , of course the the profit target is a limit order and It always work for me. I use a form like this:

Code

setprofittarget( targetPoints * bigpointvalue);

if you also use setstoploss the same way then you'll have a bracket order (AKA oco order).

Maybe I didn't understood you question ...can you please explane it better and with some pieces of code to comment?

February 3rd, 2020, 01:17 PM

Dvdkite

Hello , of course the the profit target is a limit order and It always work for me. I use a form like this:

Code

setprofittarget( targetPoints * bigpointvalue);

if you also use setstoploss the same way then you'll have a bracket order (AKA oco order).

Maybe I didn't understood you question ...can you please explane it better and with some pieces of code to comment?

Thanks for the comment. This signal comes standard as a out-of-box in the Multicharts.net platform , I did not code it.
Looking at the source code the statement is:

>Signal: "Profit_Target"

Code

namespace PowerLanguage.Strategy
{
    [IOGMode(IOGMode.Disabled)]
    public class Profit_Target : SignalObject
    {
        public Profit_Target(object ctx) :
            base(ctx)
        {
            Amount = 8;
        }

        [Input]
        public bool IsPositionBasis { get; set; }

        [Input]
        public double Amount { get; set; }


        protected override void CalcBar(){
            CurSpecOrdersMode = IsPositionBasis ? ESpecOrdersMode.PerPosition : ESpecOrdersMode.PerContract;
            GenerateProfitTarget(Amount);
        }
    }
}

My point is, for the Nasdaq an Amount = 8 (ticks) corresponds to 2 points so the order should have closed with a sell price = 9,153.75 - 2.00 = 9,151.75 and not 9,153.25 as it did.

February 3rd, 2020, 01:49 PM

JohnJo

Thanks for the comment. This signal comes standard as a out-of-box in the Multicharts.net platform , I did not code it.
Looking at the source code the statement is:

>Signal: "Profit_Target"

Code

namespace PowerLanguage.Strategy
{
    [IOGMode(IOGMode.Disabled)]
    public class Profit_Target : SignalObject
    {
        public Profit_Target(object ctx) :
            base(ctx)
        {
            Amount = 8;
        }

        [Input]
        public bool IsPositionBasis { get; set; }

        [Input]
        public double Amount { get; set; }


        protected override void CalcBar(){
            CurSpecOrdersMode = IsPositionBasis ? ESpecOrdersMode.PerPosition : ESpecOrdersMode.PerContract;
            GenerateProfitTarget(Amount);
        }
    }
}

My point is, for the Nasdaq an Amount = 8 (ticks) corresponds to 2 points so the order should have closed with a sell price = 9,153.75 - 2.00 = 9,151.75 and not 9,153.25 as it did.

Hello but sorry I thought you were using the easylanguage version of MC. I'm sure that someone with a better knowledge of MC.net will reply...

ABCTG · February 4th, 2020, 02:50 AM

JohnJo,

it might make sense for you to check the symbol settings in Quotemanger to make sure that they are correct (especially Price Scale, Min Move and Big Point Value). It is a good practice to check these for every symbol you add as MC might not add the correct ones by default. Since the platform uses these values to compute the value and size of a tick wrong settings here can cause a lot of problems further down the road.
You can find the correct settings for a symbol for example on the website of the exchange.

Regards,

ABCTG

JohnJo

Thanks for the comment. This signal comes standard as a out-of-box in the Multicharts.net platform , I did not code it.
Looking at the source code the statement is:

>Signal: "Profit_Target"

Code

namespace PowerLanguage.Strategy
{
    [IOGMode(IOGMode.Disabled)]
    public class Profit_Target : SignalObject
    {
        public Profit_Target(object ctx) :
            base(ctx)
        {
            Amount = 8;
        }

        [Input]
        public bool IsPositionBasis { get; set; }

        [Input]
        public double Amount { get; set; }


        protected override void CalcBar(){
            CurSpecOrdersMode = IsPositionBasis ? ESpecOrdersMode.PerPosition : ESpecOrdersMode.PerContract;
            GenerateProfitTarget(Amount);
        }
    }
}

My point is, for the Nasdaq an Amount = 8 (ticks) corresponds to 2 points so the order should have closed with a sell price = 9,153.75 - 2.00 = 9,151.75 and not 9,153.25 as it did.

February 4th, 2020, 02:44 PM

ABCTG

JohnJo,

it might make sense for you to check the symbol settings in Quotemanger to make sure that they are correct (especially Price Scale, Min Move and Big Point Value). It is a good practice to check these for every symbol you add as MC might not add the correct ones by default. Since the platform uses these values to compute the value and size of a tick wrong settings here can cause a lot of problems further down the road.
You can find the correct settings for a symbol for example on the website of the exchange.

Regards,

ABCTG

Thanks for the suggestion. Just checked the settings in Quote Manager (see printscreen attached):
-Min movement = 25 , (the minimum tick value of a move is 0.25 , is the 25 correct ??)
-Big point value = 20 (value in usd of each point)

Help is appreciated

ABCTG · February 5th, 2020, 03:00 AM

JohnJo,

MC computes a tick by multiplying Price Scale and Min movement. The settings on the screenshot are correct.

Regards,

ABCTG

JohnJo

Thanks for the suggestion. Just checked the settings in Quote Manager (see printscreen attached):
-Min movement = 25 , (the minimum tick value of a move is 0.25 , is the 25 correct ??)
-Big point value = 20 (value in usd of each point)

Help is appreciated

Profit_Target signal: how it works ??!!

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Profit_Target signal: how it works ??!!