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need help with easy language OR breakout code:)


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need help with easy language OR breakout code:)

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 wolf777trader 
Amsterdam, Netherlands
 
Experience: Intermediate
 
Posts: 2 since May 2022
Thanks: 0 given, 0 received

Hi guys,

I am new to this forum and I would like to get your support on the following strategy that I would like to adjust to trade the OR breakout for futures. I found this code on another post and I would like to make following modifications:
- add opening and closing time (for me 15.30 and 22.00 since I am based in Europe)currently this code takes the first bar of the day on the chart. I could use the index tickers but I usually trade on futures index
- add stop loss @high/low of opening range when going short/long
- take profit end of the day at 22:01 (CET time)

thanks a lot for your help

here is the code:

Inputs: iRangeLengthMin(30),

iBrakePoints(1),

iEntryTimeLimit(-90),

iContracts(1),

iProfitTarget(500),

Price(Close),

Length(12),
ShowText (true);



Var: OpenRangeTime(CalcTime(SessionStartTime(0,1), iRangeLengthMin)),

EntryTimeLimit(CalcTime(SessionEndTime(0,1), iEntryTimeLimit)),

RangeH(0),RangeL(0), // H&L of range

TimeH(0), TimeL(0), // time of H&L

RangeHtime(0), RangeLtime(0),

vDollarStop(500),

FirstTrade(true),

CustomCond(true),

Cond4trade(true),

vVolumeLenght(7),

ExpAvg(0),

firstcheck(true),

MaxP(0),

DateInFromTo(false);



// New day settings

if Date<>Date[1] then begin

//DateInFromTo= (Date>=iFromYYYMMDD and Date<=iToYYYMMDD);

FirstTrade=true;

RangeH=H; RangeL=L; // first bars High Low are Ranges h&l

TimeH=Time; TimeL=Time;

end;



// Range settings

If L<LowD(0)[1] then TimeL=Time; {if new H or L, remember the time of H or L}

If H>HighD(0)[1] then TimeH=Time;



If Time=OpenRangeTime then begin // if openning range is finished

RangeH=HighD(0);

RangeL=LowD(0);

RangeHtime=TimeH;

RangeLtime=TimeL;

end; // remember Range parameters



// ***************** Trade ******************

CustomCond= true;

Cond4trade = CustomCond and time>OpenRangeTime and time<EntryTimeLimit ; //and DateInFromTo



If Cond4Trade then begin

If FirstTrade and Close>=RangeH then

begin

Buy("BrOR_L1") iContracts contracts Next bar at open;

FirstTrade=false;

end;

If FirstTrade and Close<=RangeL then

begin

sellshort("RrOR_Sh1") iContracts contracts next bar at open;

FirstTrade=false;

end;

end;

SetStopContract;

SetStopLoss(100);

SetProfitTarget(100);



// ******************** Plots and Text ********************

Vars: Decimals(Log(PriceScale)/ Log(10)),

PLot_hi(0),Plot_lo(0),

Low_line(-1),OR_Bar(-1),Hi_Line(-1),

Hi_text(-1),Lo_text(-1);



if time = OpenRangeTime then begin

Plot_hi = HighD(0);

Plot_lo = LowD(0);



{Draw Lines}

Hi_line = TL_new(date,time,Plot_hi,date,SessionEndTime(0,1),Plot_hi);

Tl_setstyle(Hi_line,tool_dashed2);

Tl_setcolor(Hi_line, yellow);

Low_line = TL_new(date,time,Plot_lo,Date,SessionEndTime(0,1),Plot_lo);

Tl_setstyle(Low_line,tool_dashed2);

Tl_setcolor(Low_line,yellow );

OR_bar = TL_new(date,time,Plot_hi,date,time,plot_lo);

TL_setcolor(OR_bar,lightgray);

{Text}

if ShowText then begin

Hi_text = Text_new(Date,SessionStartTime(0,1) ,Plot_hi ,numtostr(Plot_hi,decimals));

Lo_text = Text_new(Date,SessionStartTime(0,1),Plot_lo ,numtostr(Plot_lo,decimals));

end;

end;

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Last Updated on May 12, 2022


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