How do I enter at a broken level one time only?

ReximusMaximus · November 21st, 2019, 04:17 PM

I'm trying to test a strategy that buys broken pivot levels.

I have the entries working fine, but I am having a very tough time getting the code to allow one trade per setup.

I've attempted to create a variable called buyflag, and when a trade is placed I set it equal to the buy_level_one (broken pivot high). This seems to work in that it allows only one buy, and I would imagine that I'd need to create thousands of these in order to test it over time.

I'm sure there's a simpler way to do this, for example maybe reference the most recent limit price, and I can check for that when placing the trade?

I'm very new to easylanguage and have been banging my head against a wall for a while on this and thought I'd ask for help.

Here's an example of the entry code:

Code

//long  entry	
if
	buyflag <> buy_level_one and
	buy_level_one > 0 and
	close > buy_level_one and
	time > starttime and
	time < endtime then begin
		buy next bar tradesize contracts buy_level_one+(buffer) limit;
		buyflag = buy_level_one;
	end;

numberjuani · November 21st, 2019, 07:06 PM

ReximusMaximus

I'm trying to test a strategy that buys broken pivot levels.

I have the entries working fine, but I am having a very tough time getting the code to allow one trade per setup.

I've attempted to create a variable called buyflag, and when a trade is placed I set it equal to the buy_level_one (broken pivot high). This seems to work in that it allows only one buy, and I would imagine that I'd need to create thousands of these in order to test it over time.

I'm sure there's a simpler way to do this, for example maybe reference the most recent limit price, and I can check for that when placing the trade?

I'm very new to easylanguage and have been banging my head against a wall for a while on this and thought I'd ask for help.

Here's an example of the entry code:

Code

//long  entry	
if
	buyflag <> buy_level_one and
	buy_level_one > 0 and
	close > buy_level_one and
	time > starttime and
	time < endtime then begin
		buy next bar tradesize contracts buy_level_one+(buffer) limit;
		buyflag = buy_level_one;
	end;

Try this before your order EntriesToday(date) = 0 if you want to only allow one trade a day and if you want to make sure its not taking the trade at the same level as before reference the previous entry price.

if EntryPrice(1) = buy_level_one then no trade!

ReximusMaximus · November 21st, 2019, 07:52 PM

numberjuani

Try this before your order EntriesToday(date) = 0 if you want to only allow one trade a day and if you want to make sure its not taking the trade at the same level as before reference the previous entry price.

if EntryPrice(1) = buy_level_one then no trade!

Thanks for the suggestion, I'll mess around with this. I typically do only take one trade per day with this when I trade manually.

Cool dog btw!

edit: also that entryprice reserved word also may work perfectly.

Germany1960 · November 28th, 2019, 07:59 AM

You also can add this filter if you want to open only once a day

Code

//long  entry	
if
	buyflag <> buy_level_one and
	buy_level_one > 0 and
	close > buy_level_one and
	time > starttime and
        Closed_Daily <> CloseD(1) and
	time < endtime then begin
		buy next bar tradesize contracts buy_level_one+(buffer) limit;
		buyflag = buy_level_one;
                Closed_Daily = CloseD(1);

	end;

ReximusMaximus · November 28th, 2019, 11:03 AM

In case anyone stumbles across this thread with the same question, using entryprice worked like a charm if you're okay with multiple entries per day.

kjhosken · December 9th, 2019, 06:21 PM

Another option if you want more than 1 trade per day, but only once at a given level might be to add a counter. (caveat, not sure the code below would work without knowing more fully how your entire code operates, so think of it conceptually more than anything)

Code

//long  entry	
if
	buyflag <> buy_level_one and
	buy_level_one > 0 and
	close > buy_level_one and
	time > starttime and
        Closed_Daily <> CloseD(1) and
        buy_level_one_counter = 0 and
	time < endtime then begin
		buy next bar tradesize contracts buy_level_one+(buffer) limit;
		buyflag = buy_level_one;
                Closed_Daily = CloseD(1);
                buy_level_one_counter = buy_level_one_counter [1] + 1;
	end;

How do I enter at a broken level one time only?

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How do I enter at a broken level one time only?

How do I enter at a broken level one time only?

Show us your trading desks and win $1,400 in prizes w/Earn2Trade

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$250 Amazon Gift Cards with our "Thanks Contest" challenge!