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My point is, how do you know what the open of the next bar is if you haven't
got there yet?
Jim Bronke
Phoenix, AZ
----- Original Message -----
From: "Gary Fritz" <fritz@xxxxxxxx>
To: "Jim Bronke" <jvbronke@xxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Thursday, October 18, 2001 8:45 PM
Subject: Re: Opening Range Breakout
: > I would think that most of the time DayOpen would be zero in this
: > instance. An opening trade would have to occur after the end of the
: > session Close and before the calculations are begun. Am I missing
: > something?
: >
: > : vars: DayOpen(0);
: > : if Time = Sess1Endtime then DayOpen = Open of next bar;
: > : if DayOpen <> 0 then buy at DayOpen + ATR(10)*X;
:
: DayOpen is initialized to zero **on the first bar only**, and stays
: that way through the first day on the chart. Then, at the end of the
: first (and each subsequent) day, when Time = Sess1EndTime, DayOpen
: gets set to the Open of the next bar. Since this is supposedly the
: last bar of the day (assuming you are only charting RTH data), the
: next bar should be the first bar of the new day, so the Open of that
: bar is the opening tick of the next day.
:
: DayOpen retains that opening-tick value throughout the day, until it
: gets set to the *next* day's open. DayOpen NEVER gets set back to
: zero.
:
: Actually, though, you might want to set it to zero if your buy stop
: ever gets hit, so you don't keep re-issuing the buy order.
:
: Also, I realized my code will fail on any day that is missing the
: final bar, since Time will never = Sess1EndTime. The following code
: works for that situation.
:
: vars: BuyStop(0);
: if Date of next bar <> Date
: then BuyStop = Open of next bar + ATR(10)*X ;
: if High > BuyStop then BuyStop = 0;
: if BuyStop <> 0 then buy at BuyStop stop;
:
: Gary
:
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