Re: ELA problem: Buy/Sell at open

[TradeWynne@xxxxxxx]

In a message dated 8/24/99 10:44:21 AM Pacific Daylight Time, 
HCOVARRUBIAS@xxxxxxxxxxxx writes:

> Is there a way to make a order like "buy this bar at open".  >snip< based on
>  the previous bars data and the gap size.
>  Can i do this mechanically in a system?
>  thanks any help.
>  hernan

Try this:

 If open next bar > H  then buy  at open next bar + 10 points stop;

{This buys a gap open above the previous day's High at ten points above that 
day's open on a stop. TS 4.0}

or

If open next bar > H  then buy  at open next bar + range*.5 stop;

{This buys a gap open above the previous day's High at that day's open + half 
the previous day's range on a stop. TS 4.0}

OR (my guess is this is the one you want):

If open next bar > high then buy at open next bar  + (open next bar - H)*.5 
stop;
If open next bar < L then sell at open next bar  - ( L - open next bar )*.5 
stop;

{This buys/sells a gap open using the 1/2 the gap range as a stop +/- the 
open. TS 4.0}

Bill W.
SmartTrades.com