[EquisMetaStock Group] An even better trade binary

["Jose" <josesilva22@xxxxxxxxx>]

Either by deliberate or (more likely) poor design, sometimes a trading 
strategy can give both Long & Short signals on the same bar.

What to do then?  Ignore simultaneous entry/exit signals on the same 
bar, or take the latest signal?

The MetaStock indicator below allows the choice of either ignoring 
conflicting entry/exit signals, or taking the latest signal.


====================
System trade signals
====================
---8<--------------------------

{ System trade signals }
{ &#169;Copyright 2005 Jose Silva }
{ For personal use only }
{ http://www.metastocktools.com }

{ Note on simultaneous entry/exit on same bar:
    #1 Ignore:
         entry/exit signals cancel each other;
    #2 Preference given to:
         new entry if currently Short,
         new exit if currently Long.}


{ Signals reference example }
entry:=C>Mov(C,21,E);
exit:=C<Mov(C,10,E);

{ User inputs }
plot:=Input("Signals:  [1]Clean,  [2]All,  [3]Trade binary",1,3,1);
choose:=Input("Simultaneous entry/exit: [1]Ignore, [2]Preference",1,2,
1);
delay:=Input("Entry and Exit delay",-1,5,0);

{ Initialize plot }
Init:=Cum(IsDefined(entry+exit))=1;

{ #1 - Ignore entry/exit on same bar }
x:=ValueWhen(1,entry-exit<>0,entry-exit);
long:=x=1 AND (Alert(x<>1,2) OR Init);
short:=x=-1 AND (Alert(x<>-1,2) OR Init);
signals1:=long-short;
binary1:=ValueWhen(1,signals1<>0,signals1);

{ #2 - Preference to first entry/exit }
long:=entry AND (Alert(entry=0,2) OR Init);
short:=exit AND (Alert(exit=0,2) OR Init);
binary2:=ValueWhen(1,long-short<>0,long-short);
long:=binary2=1 AND (Alert(binary2<1,2) OR Init);
short:=binary2=-1 AND (Alert(binary2>-1,2) OR Init);
signals2:=long-short;

{ Select #1 or #2 }
binary:=If(choose=1,binary1,binary2);
signals:=If(choose=1,signals1,signals2);

{ Plot in own window }
Ref(If(plot=2,entry,0),-delay);
Ref(If(plot=1,signals,
 If(plot=2,-exit,binary)),-delay)

---8<--------------------------


jose '-)
http://www.metastocktools.com









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