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Thanks Gary! It's all coming back to me now.
Best regards,
Phil
----- Original Message -----
From: "Gary Fritz" <fritz@xxxxxxxx>
To: "secaseba" <secaseba@xxxxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Sunday, December 28, 2008 5:21 AM
Subject: Re: old-school easylanguage question
Stop/limit orders take effect on the next bar. E.g. if you place an order
on bar X, it takes effect on bar X+1. You will only have exits on the
entry bar X+1 if you place exit orders on bar X, at the same time you
placed the entry order.
So you need to make sure you don't place the exit order until you're
already in the trade. You had the right idea here:
> buy ("long") 10000/c shares value17 stop;
> if (high >>= value17) then in=1;
...but there's one problem with that: I don't see it in your sample, but
I suspect you're recomputing value17 on each bar. So you place the order
with value17 on bar X. Let's say on X+1 the price hits your entry. When
you compare high >= value17, you're not using the value17 that you used
for the original entry order, but the value17 you computed on bar X+1.
I don't have a TS handy to test it, but you'd probably be better off to
use MarketPosition or BarsSinceEntry to test whether you're in a position.
Or maybe use if (high >= value17[1]) then in=1 to use the bar X value of
value17 to test the high of bar X+1.
Gary
SC wrote:
> Hello Philip,
> Sorry I can't test that code for you at the moment my Tradestation
> computer is having boot problems, from memory when I was testing that
> exit with various entries I don't recall ever having an entry on the
> same bar as the exit.
> Probably my entries were not in the same range as the exits.
> You could create two line indicators, one showing your entry values
> and the other that shows your exit values, if the entry values are
> below the exit values for a long trade TS will exit and buy right back
> in on the same bar.
> Best regards,
> SC
>
> PL> Thanks SC,
>
> PL> But I don't think this does exactly what I need - or maybe I'm
missing the
> PL> point?. Trying to find a way to lock out additional trades
within the bar,
> PL> once the "intended" trade (an exit) has happened. You would think
> PL> BarsSinceExit or something would do it. But apparently TS
doesn't update
> PL> BarsSinceExit and the like until the "end" of the bar, after the
extra trade
> PL> has already happened. Does the Ask. Mr. Easylanguage book cover
this kind of
> PL> stuff?
>
> PL> Best regards,
> PL> Phil
>
> PL> ----- Original Message -----
> PL> From: "SC" <secaseba@xxxxxxxxxx>
> PL> To: "Philip Lane" <philtronics@xxxxxxxxxxx>
> PL> Cc: <omega-list@xxxxxxxxxx>
> PL> Sent: Friday, December 26, 2008 8:37 PM
> PL> Subject: Re: old-school easylanguage question
>
>
>
>>> Hello Philip,
>>> My version of the TS4 built in $Risk Stop
>>> If MarketPosition(0)=1 then ExitLong at MaxPositionProfit(0)-stp
>>> limit;
>>> If MarketPosition(0)=-1 then ExitShort at MaxPositionProfit(0)+stp
stop;
>>>
>>> You should be able to add your AvgTrueRange calc. into the stp amount.
>>> Best regards
>>> SC
>>>
>>> PL> How to prevent a round trip on a stops on a daily bar? I can't
>>> remember the
>>> PL> trick. Barssinceentry doesn't do it.
>>> PL> Here's a picture and some code:
>>> PL> http://www.gigascanner.com/002.gif
>>> PL> {if (in=0 or in=-1) then begin}
>>> PL> buy ("long") 10000/c shares value17 stop;
>>> if (high >>= value17) then in=1;
>>> PL> if (in=1 and barssinceentry>1) then exitlong
>>> PL> value17/(1+factor*AvgTrueRange(5)/100) stop;
>>> PL> if (low <= value17/(1+factor*AvgTrueRange(5)/100) and
>>> barssinceentry>-1)
>>> PL> then in = 0;
>>> PL> Thank you,
>>> PL> Phil
>>>
>>>
>
>
>
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