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This might seem like a silly and basic question. But
When you write a script to take a position when certain conditions occur,
("if this and this and this then do that") how do you make sure the script does not keep taking new positions?
So for example: if I wrote a script to execute a buy of one ES contract when the macd crosses above the signal line, how would I limit the actual number of trades? That particular event could happen a lot.
Can you help answer these questions from other members on NexusFi?
I can't believe that I have not done this in so long that forgot how to do a while loop.
Which, in the clarity of a nights sleep, I realize is the answer.
If you set EntriesPerDirection to 1, that should stop it.
I believe UniqueEntries does something similar, but I've never used it. I think it stops the entry with the same tag from triggering twice, but I'm not sure...
It's simple. I use a state machine. I have three states: IAmNoPosition, IAmLong, IAmShort. When I have no position, the state is IAmNoPosition. When I enter a long position, the state changes to IAmLong, likewise for short. I can only enter a position when the state is IAmNoPosition, and I can only exit a position from IAmLong or IAmShort. If I exit a position, the state changes to IAmNoPosition.
So in your case, the MACD crossing would change the state from IAmNoPosition to IAmLong (after entering the order, and possibly checking the ack).
