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Using two or more signals together on the same symbol - what to do
Hi everybody, I have a question about what to do to make two or more signals work together on the same symbol, having the same results (on the profit point of view) as when they work separately. The environment is the Portfolio Trader. When I put them in the same strategy, the results are not as hoped. What shall I do to make them work together properly? Thank you in advance for any response.
Can you help answer these questions from other members on NexusFi?
when you combine two or more strategies on a chart (instrument in Portfolio Trade) MC will basically treat them as one strategy and the results can differ due to that. You would have to combine the codes into one and make sure with your logic to handle multiple entries, exits etc. to achieve the same result as you'd get for the separate strategies.
In Portfolio Trader you can run multiple strategies and you could try to set up two strategies, each with the same instruments in them, but applying your signals separately to each strategy.
You can find more information here: https://www.multicharts.com/trading-software/index.php/Configuring_Strategies
Thank you ABCTG for your response. My problem is indeed with the logic to handle multiple entries and exits, particularly when a position has to be scaled out, rather than to be scaled in (I am not sure if I am clear in explaining this). All the logic combinations I have tried are not compliant with this requisite. I am probably using the wrong instructions, I don't know.
If I use the signals in separate strategies, I will have separate entries (and exits, of course) and I won't optimize the order flow. In this case, what kind of logic solutions are available in Multicharts?
The aim is to save commissions and maintain the profit.
I would like to find a procedure that could be standardized and consent summing two or more codes in one.
The signals work on similar hours, so it happens that, when a position is taken, another position, that is set to be taken in the signal that works alone, is not taken, if it is in the same direction but reduces the global position of the signal. Allowing multiple entries (the option in the strategy properties) is not enough to comply with this.
I try to write down a basic example:
- the signal is set to be signal1+signal2 that implies a list of strategy orders
- let's suppose that the signal opens a long position, 2 contracts: the next strategy calculation sets that the next strategy position must be of 1 contracts; my global strategy doesn't allow the reduction of the position
The last version of the code I used is this one below
If marketposition(0)=0 and positionIndicatorT>0 then buy (Absvalue(positionIndicatorT)) contracts this bar on Close;
If marketposition(0)=0 and positionIndicatorT<0 then sellshort (Absvalue(positionIndicatorT)) contracts this bar on Close;
If marketposition(0)>0 and positionIndicatorT>0 and (positionIndicatorT>marketposition(0)) then buy this bar on Close;
If marketposition(0)>0 and positionIndicatorT>0 and (positionIndicatorT<marketposition(0)) then sell this bar on Close;
If marketposition(0)>0 and positionIndicatorT<0 then sellshort this bar on Close;
If marketposition(0)<0 and positionIndicatorT>0 then buy this bar on Close;
If marketposition(0)<0 and positionIndicatorT<0 and (positionIndicatorT>marketposition(0)) then buytocover this bar on Close;
If marketposition(0)<0 and positionIndicatorT<0 and (positionIndicatorT<marketposition(0)) then sellshort this bar on Close;
If marketposition(0)>0 and positionIndicatorT=0 then sell this bar on Close;
If marketposition(0)<0 and positionIndicatorT=0 then buytocover this bar on Close;
Hello,
This is interest question. I has same problem when I trade by hand and when I start back test my strategy. This is question does not have one answer, it can be few idea`s with this situation. What I do:
1. I have general idea for instrument for the day: It means if I have "Daily pattern" with Long scenario, I`m cancel ALL Short signal and my strategy work ONLY to LONG. But for it, you need good rules for cancel Long idea.
2. All my general idea have "take profit area" and "cancel idea price level".
3. In my strategy`s I have two "take profit area":
- scalp (20-30% of ATR)
- hold (ATR - 10-20%)
If I have "scalp" scenario I don`t add position. If I have "hold" scenario I`m add only at once 1 contract. But for first enter I move stop.
This is my example of day trading, you can also build your rules and scenario.
Thank you jonnytrade, you made it clear and clearly understood what I meant: I am trying to translate those ideas into a code level, I'll keep you updated.
Unfortunately I am not able to use Python, I mean: using Multicharts and Powerlanguage, Python is not a choice. It could be useful a sample, but that would be too much. Thank you indeed.
