|
PureBytes Links
Trading Reference Links
|
Chris Evans <evanscje@xxxxxxxxxxxxx> wrote:
> > > Is there an analogous DLL for an intraday system
> > > that allows you to call the day's opening price and
> > > use it in a stop order?
"Sergey Efremov" wrote:
> > there is a function called OPEND
Chris responded:
> yes but .. in a daily bar that is updating real time, you can't
> reference it until the next bar = the next day so it is useless for
> a stop order for the same day
That's right. OpenD gives TODAY's open, or a previous day's
open, which doesn't help you for placing a stop order.
You can use the value "Open of next bar" on the last bar before
the next day's open. This allows you to test strategies like
"open range breakout," which set stops some offset away from the
opening price. Obviously in real trading you can't get
tomorrow's opening price today, but for backtesting you have to
place your stop orders a bar in advance, so this lets you get
around it.
Some other capabilities are limited when you access the next bar,
to keep you from doing things like
if Open of next bar > Close then
{ buy at close, sell at open }
end;
Gary
|