NexusFi: Find Your Edge

Home Menu


Breakout strategy daily range issue

Discussion in EasyLanguage Programming

    1. trending_up 2,617 views
    2. thumb_up 2 thanks given
    3. group 4 followers
    1. forum 2 posts
    2. attach_file 0 attachments

Search this Thread

Breakout strategy daily range issue

(login for full post details)
  #1 (permalink)
Bucharest, Romania
Posts: 71 since Mar 2022
Thanks Given: 38
Thanks Received: 22

I tried to code a strategy based on the Open Range Breakout using the previous daily range as a reference: Buy the Open + 0.50 of the previous daily range.
I noticed that on Mondays, the previous daily range (Friday in this case) is not taken into consideration, and the strategy sometimes executes the trade but not at the predefined 0.50 value.

inputs: MyPerc(0.5), StartTime(300), EndTime(600);

vars: MaxSetup(0), MinSetup(0), MyRange(0);

   MyRange =  highd(1) - lowd(1);
   MaxSetup = opend(0) + MyRange*MyPerc;
   MinSetup = opend(0) - MyRange*MyPerc;

// Entries Long only
close < MaxSetup                                            and
EntriesToday(date[0]) < 1                                   and 
Time > StartTime                                            and 
Time < EndTime                                              then 

   Buy next bar at MaxSetup on Stop;

Note: I tried to define MyRange with High[1] of Data2 - Low[1] of Data2 since Data2 are daily bars, but the same issue persists, thank you.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
PowerLanguage/EasyLanguage Trying to use a Function as a …
EasyLanguage Programming
convert tradingview pinescript to ninjascript indicator …
The Elite Circle
Any experience with Affordable Indicators - Duplicate Ac …
Trading Reviews and Vendors
Do 5-days or 7-days constitute a Multiweek Channel?
Your experience with VPS Ninjamobiletrader ?
Trading Reviews and Vendors
Best Threads (Most Thanked)
in the last 7 days on NexusFi
GFIs1 1 DAX trade per day journal
32 thanks
Vinny E-Mini & Algobox Review TRADE ROOM
18 thanks
Spoo-nalysis ES e-mini futures S&P 500
16 thanks b …
12 thanks
King Of The Nasdaq
9 thanks

(login for full post details)
  #2 (permalink)
danville ca usa
Posts: 55 since Aug 2015
Thanks Given: 20
Thanks Received: 50

are you trading futures... if you are then any reference to yesterday on monday will reference sunday's open where the futures market opens sunday afternoon... so on monday, yesterday is sunday, not friday.


Reply With Quote
The following user says Thank You to toucan94506bm for this post:
(login for full post details)
  #3 (permalink)
seattle washington
Posts: 75 since Feb 2019
Thanks Given: 11
Thanks Received: 29

Yeah, I agree with toucan, it's the time. Depending upon what you are trading you may find success with StartTime(0930), EndTime(1600).

Reply With Quote
The following user says Thank You to abev for this post:

Last Updated on June 5, 2022

© 2023 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts