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Help in Sierra study Spreadsheet System for Trading
I am trying to work on a "Spreadsheet System for Trading" in Sierra Chart because I want to backtest a strategy.
But I cant find the correct formula for buying/selling the way I really want.
I am using one of their examples =CROSSFROMABOVE(ID0.SG4@3:ID0.SG4@4, ID1.SG1@3:ID1.SG1@4)
but sometimes the price does not cross the EMA, only touches it.
I really want to try 2 things:
1) BUY: When price comes from above (pullback) and touches the EMA buy at market at the next closing bar.
2) SELL: When price comes from bellow, Sell two tick under the EMA. (When in a Downtrend price pullback to the EMA, have the sell limit waiting two ticks bellow the EMA)
But I dont know how to say these to the spreadsheet.
Can you help answer these questions from other members on NexusFi?
I thank you @Willstar44 for your help, but it quite didnt work for me.
Using this "=if(D3<AA3 ,1,0)" gives me a Buy entry in every bar under the EMA, (which makes sense based on the formula). But the problem is: When the spreadsheet buys at the EMA and I get stoped, It buys again, because the price is under the EMA (as picture attached).
And the sel/buy 2 ticks away from the EMA, did not work for me, but I understood your formula.
k3 = if((D3-2)<AA3,1,0) ..... this will trigger every time when price is below EMA
k3 = =crossfromabove(D3-2 : D4-2,AA3:AA4) will only trigger when is cross EMA - it wont show on the chart because K4 so on wont change correctly
so what I would do in P3 = D3-2
then do K3 =crossfromabove(P3:P4,AA3:AA4)
then place your trade to MARKET
so if price was higher then EMA>>> then move down close to the EMA (2 away ) = trigger buy
I would change 2 = h3 then if you want to change it you can from 2 to eg: 5
AA3 = EMA or other indicator
D3 = candle low
you could use E3 ( last price) but then it could trigger and untrigger because price could bounce off EMA ( which you want ) so that that why I use candle Low
One issue your going to have , when price wick below EMA ... then back up ,
enter you long ( thinking it going to bounce )
Price goes lower then EMA ( hold long)
price goes higher then EMA ( thinking your going to dip of the EMA)
>>
Place you in a short
you need the system to find out if it trending ????
so you could do it like
if it touch the top of the BBands then touch EMA = BUY
but if it touch the bottom band then touch EMA= DONT BUY however sell
I did as you said using the "H3" and it is faster like that.
Another Question: Do you know how to programme a reversal?
Example: If I bought and the price went against me, I do 2 thing:
1) If it gets to my 8pt S.L – OK.
2) If it goes against me 6,5 points, open a reverse trade 2 ticks away form the EMA (like the Picture attached).
in the spreadsheet setting , you can allow reversal
So if you are long, and if it triggers a short,
it will 2x the short to cancel your long and now place your in a 1x short
PS you don't need to add any thing in L3 or N3 (exits )
You could trigger it like
use H5 = 6.5 ( trigger reveral stop lost )
so would do something like
R3 = If in loseing postions more then H5 trigger reversal
then you trigger sell
I normally trigger each condition on a different row
then make Entry = if Row 1 , row 2 , etc = 1 then trigger
and if you want it to meet 2 conditions EG ,. cross EMA + volume of X .... then entry = if ( R3 + S3 + T3 = 3 ) = trigger entry
Attached Order Target Offset (write-only): J80
Attached Order Stop Offset (write-only): : J81
if you want to do it off 2 points from a EMA or other indicator
is a pain in the ass
you can placeTP order price at the EMA + 2 = J3
change order type to Limit order (L)
but I don't know how you place bother Stop and take profit at the same time
I do it with J80 and J81 or use Flatten J29
j29 . =and(lastprice> (EMA +2),position is not 0 )