[Metastockusers] Re: 1st profitable open exit

["Jose Silva" <josesilva22@xxxxxxxxx>]

Eric, you'll need an exit before MetaStock can determine the first 
true entry signal.

Take a look at this example:

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

{ EntryPrice reference, stoploss code example
  for use in EntryPrice-related exit }
{ http://www.metastocktools.com }

{ User inputs }
x:=Input("EntryPrice: [1]Open, [2]High, [3]Low, [4]Close",1,4,4);
plot:=Input("[1]true EntryPrice,  [2]System signals",1,2,1);
Stoploss:=1-Input("StopLoss %",0,100,4)/100;

{ Original system Entry & Exit logic }
entry:=Cross(BBandBot(C,10,S,2),C);
exit:=Cross(C,BBandBot(C,10,S,2));

{ Reference Open/High/Low/Close choice }
prc:=If(x=1,O,If(x=2,H,If(x=3,L,C)));

{ Reference system entry price,
  and apply to exit as a stoploss }
trade:=If(PREV=0,If(entry,prc,0),
 If(exit OR C<PREV*Stoploss,0,PREV));

{ New entry signal }
NuEntry:=trade>0 AND Alert(trade=0,2);

{ New exit signal }
NuExit:=trade=0 AND Alert(trade>0,2);

{ True entry price }
EntryPrice:=ValueWhen(1,NuEntry,prc);

{ Plot on price chart }
If(plot=1,EntryPrice,NuEntry-NuExit)

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


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



--- In Metastockusers@xxxxxxxxxxxxxxx, "Eric and Chris" 
<ericandchristy@xxxx> wrote:
> 
> Hello,
> 
> I am trying to code in my exit the first profitable exit after
> entry.
> My entry is simple close < bbandbot(c,10,s,2) (buy on close).
> I want to exit on the first profitable open after that entry so I
> use :
> 
> open > valuewhen(1,close < bbandbot(c,10,s,2),close)   
> 
> and this works most of the time.  However, when there are 2
> consecutive closes below the lower bollinger band and it opens below
> the entry then it exits on the open if the close of the 2nd bar is
> below the lower bollinger band.  Which obviously isn't a profitable
> opening.
> 
> I tried to use a simple if() statement but it will only let me put
> data arrays in it and not functions.
> 
> Help
> 
> Thanks
> Eric





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