The main reason I'd like to use a script is for modifying my orders. When the market moves fast, I sometimes miss entry points because i might be looking at other charts, news, etc. I wouldn't use it as a completely automatic strategy, but it would help me multitask more efficiently.
MWinfrey, thanks for writing this! I'm trying to use your code to plot the short entries but I'm having no luck. My lack of programming knowledge may cause me to punch my monitor... I'd happily pay you to complete this if you're interested.
Sounds like what you really want is a signal generator or basically an indicator that identifies the entries with an arrow. I say this because based on your description you have a set of rules but you use discretion to either accept or reject the potential entry. Can't really do any order entry based on discretion. A strategy will either take ALL the entries or NONE.
So, what I can do is write it as an indicator. Let me know if that's what you want.
I originally thought an indicator would suffice, but what I am finding is I miss several signals when the markets are moving fast. Manually moving my orders above/below the Don mean line isn't the easiest to keep accurate when things are moving at light speed. Catching those "runners" is what makes it profitable and when a quick retrace happens and I miss the move, I may not catch another one for the day. Automating that process should solve it. I figure I can disable the strategy when market conditions aren't ideal. Perhaps, some of my "discretion" can be coded as well such as trading only market hours, staying out of big news events, defining major S/R areas... etc. Turning a running strategy on and off is obviously part of the overall strategy as well. If conditions aren't met, that can't be coded, simply disable it until they are.
I appreciate your help MWinfrey. I know discretion doesn't factor into testing results, but I think using a strategy with discretion could prove to be profitable. Who knows, I may find that my discretion is limiting my profitability. A more mechanical approach could be more powerful.
Well, technically it would be possible, but would it make sense?
I could imagine two basic approaches: let the strategy wait for confirmation from user (even a timeout would be imaginable) or let the user "disable" the strategy on the fly...
I know most might say it's not possible and NT support would say so too, but all the funny stuff is "not possible"