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If I write
If date<>Date[1] then Todaysopen=Open of tomorrow; {so i'll be able to write later . Buy at Todaysopen + N*Range stop;}
I immediately get an error which says: " Cannot mix next bar prices with data streams other than data1"
----- Original Message -----
From: "Gary Fritz" <fritz@xxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, October 01, 2003 12:39 PM
Subject: Re: next day open DLL
> 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
>
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