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Free Trading System by Kevin Davey (3 times World Champion)
In a free book by Kevin Davey (3 times World Champion), there is this Trading System:
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if entry6_rrange>2*stddev(entry6_rrange, entry6_xr)+average(entry6_rrange, entry6_xr) and close>close[entry6_daysback] then buy next bar at market;
if entry6_rrange>2*stddev(entry6_rrange, entry6_xr)+average(entry6_rrange, entry6_xr) and close<close[entry6_daysback] then sellshort next bar at market;
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that I wanted to improve by adding Stop and Reverse, and in Internet I found this formula (adding in Inputs: StopRev(1100):
If MarketPosition = 1 then Sellshort at entryprice-(StopRev) Stop;
If MarketPosition = -1 then Buy at entryprice+(StopRev) Stop;
but Tradestation 8, asks to replace: entryprice with: next bar and then the formula would become so:
If MarketPosition = 1 then Sellshort at next bar-(StopRev) Stop;
If MarketPosition = -1 then Buy at next bar+(StopRev) Stop;
but still getting with: Tools / Verify / Verify succefuls, entering the Strategy, no Buy or Sellshort signal appears.
If someone can correct the Stop and Reverse formula, thank you in advance.
Can you help answer these questions from other members on NexusFi?
I'm sure you will get some responses that will provide help.
Let me just say that, if you don't have solid programming experience, it is exceedingly dangerous to try pasting code you found on the internet into a strategy that you are going to allow to enter trades for you. Just be very cautious about your use of any code if you aren't very confident of your programming skills.
This word of caution may be unnecessary, but I did want to give it.
And good luck.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Thanking you for the advice, I wanted to specify that the Stop and Reverse, is just one of the filters I use in my tests (in this case as an alternative to the classic StopLoss);
obviously I also use other filters: overbought / oversold Indicators, AvgTrueRange (or ADX), etc...I will use the T.S. tested only when I am more than satisfied with the results obtained, not before.
// if entry6_rrange>2*stddev(entry6_rrange, entry6_xr)+average(entry6_rrange, entry6_xr) and close>close[entry6_daysback] then buy next bar at market;
// if entry6_rrange>2*stddev(entry6_rrange, entry6_xr)+average(entry6_rrange, entry6_xr) and close<close[entry6_daysback] then sellshort next bar at market;
if entry6_rrange>1*stddev(entry6_rrange, entry6_xr)+average(entry6_rrange, entry6_xr) and close>close[entry6_daysback] then buy next bar at market;
if entry6_rrange>1*stddev(entry6_rrange, entry6_xr)+average(entry6_rrange, entry6_xr) and close<close[entry6_daysback] then sellshort next bar at market;
//If MarketPosition = 1 then Sellshort at entryprice-(StopRev) Stop;
// If MarketPosition = -1 then Buy at entryprice+(StopRev) Stop;
If MarketPosition = 1 then Sellshort ("Reverse1") at next bar (entryprice-StopRev) Stop;
If MarketPosition = -1 then Buy ("reverse2") at next bar (entryprice+StopRev) Stop;