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I am trying to code a reversal entry, only if a particular condition has
been met in the same bar. The idea is to enter in an “uptrend” and if the
price goes below a level to sell and reverse the position and if this does
happen then exit at the close.
I am assuming the omega convention of if the open is closer to the high
the order is OHLC and if open is closer to the low it is OLHC .
What I am finding is that it will still enter before a buy has been
initiated in the same bar or enter without a buy being entered.
Is it possible to achieve the above?
The code is:
Ep = False;
Value1 = Open next bar + Average(Range,3) * ATRM;
Value10 = Value1 - Pnts;
Condition5 = Value1 >= Close;
Condition50= Xaverage(C,21) > Xaverage(C,21) [1] ;
IF marketposition = 0 and Condition50 then begin
IF Condition5 then begin
Buy("Buy") at Value1 stop;
Ep = true;
end;
If Ep = true then begin
Sell("Reverse") at Value10 stop;
SetExitOnClose;
EP = false;
end;
Ep= False;
end;
Mel
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