Stop Loss Buy for Entry

March 2nd, 2014, 12:29 PM

I am trying to buy 2 pips above the previous candle high when the MACD cross above happens. Code is this

inputs: FastLength( 5 ), SlowLength( 70 ), MACDLength( 100 ) ;
variables: var0( 0 ), var1( 0 ), var2( 0 ) , var3(0);

var0 = MACD( Close, FastLength, SlowLength ) ;
var1 = XAverage( var0, MACDLength ) ;
var2 = var0 - var1 ;
var3 = High[1]+1.0;

condition1 = CurrentBar > 2 and var2 crosses over 0 ;
if condition1 then
Buy( "MacdLE" ) next bar at var3 stop;

But then when I am seeing the buy value, it is showing at High[1] only and not additional 1.0 point above

Can you please help?

Thanks

ABCTG · March 2nd, 2014, 02:08 PM

tahseen,

your code buys for the next market using the high from one bar ago. Which means at the time your order is sent you are using the high from two bars ago. The code is doing that fine and I didn't see wrong entries at High[1] only here.

To avoid issues I would suggest not to use something like High[1] + 1, but use pips/ticks instead like this:

Code

High[1] + (2 * (MinMove/PriceScale))

Regards,
ABCTG

Stop Loss Buy for Entry

Discussion in EasyLanguage Programming

Stop Loss Buy for Entry