Signal based on Open data2 not working

October 31st, 2019, 10:05 PM

Hello,

In order to get around the lack of the Bar Magnifier in Renko Chart (in MC), I've put a Renko chart in data2, with a 1-minute in data 1, so I can have accurate intrabar signals based on Renko charts.

I'm trying to generate a buy signal in the following circumstances:

We have an "up" renko bar in data2.

H-3010
C-3010
O-3005
L-3002

If price then goes 2 ticks below the open of the Renko bar (i.e. it hits 3004.50), and then goes back up and hits the value of the Renko bar Close (3010) the system goes long.

I've tried various things, and the latest I have is the following:

if Close of data2 > Open of data2 and Low < (Open of data2 - 0.25) then
buy ("BuyRenko") next bar at Close of Data2 stop;

The problem is that it's not working, except in rare cases where the condition where hit on the very next 1-minute bar. But if the conditions are met later on, the signal doesn't fire.

I have [intrabarordergeneration=true], so it's my understanding that the "buy next bar at" will continue being true for subsequent bars. Is this incorrect?

I'd appreciate any help on this!

ABCTG · November 1st, 2019, 04:06 AM

Phil18,

orders will only be kept alive as long as your conditions are true. Without intrabar order generation (IOG) they would get cancelled at the end of the bar unless your conditions are still true. With IOG they could be cancelled at the next tick when your conditions are not anymore.
By default MC will only issue orders when there is a defined bar status on data 1 and you might want to use the print reserved word to check if this might be what cancels orders on your end. If that is the case you might find the AllowSendOrdersAlways attribute beneficial.
https://www.multicharts.com/trading-software/index.php/AllowSendOrdersAlways

Regards,

ABCTG

Signal based on Open data2 not working

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Signal based on Open data2 not working