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Managing multiple entries


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Managing multiple entries

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 arjfca 
Montreal, Canada
 
Experience: Intermediate
Platform: Multicharts
Broker: Interactive Broker
Trading: Forex
Posts: 263 since Sep 2010
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Hello to all

I'm new to Multicharts / Easylanguage programation and I'm stuck with a problem

I have developp a strategy that take a position for all valid signal in the same direction. Each entry as its own profit target and stop loss. Since under some conditions, I have to modify stop value, I need a way to reference them because each individualy entry may have a different stops

Now, how do I manage these entrys?
Easylanguage does not permit to attribute a string variable to a Buy or sell position name. Each entry as the same name

Buy "Position_long_1" 100 share at market.

In this exemple, "Position_long_1" as to be predetermine in the script, can't be a variable. My desire is to differentiate them using a counter

Buy "Position_long_1" 10000 share at market.
...
...
Buy "Position_long_2" 100 share at market.

Sell "Position_long_1" 10000 share at market.
...
...
Sell "Position_long_2" 100 share at market.

Hope I'm clear enough

Martin

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 Big Mike 
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From the MultiCharts help...

 
Code
                            


Buy
Enters a long position 
as specified by the parameters
The entry point is visually indicated on a chart by an Arrow and a TickThe Arrow identifies the time and the Tick identifies the price value of the entry pointLabelsdisplaying the entry name and the number of contracts or shares tradedare displayed below the Buy Arrow

An order is executed at the point specified by the parameters; if the order is not filled within the specified barthe order is cancelled

When a Buy order is filledany open short positions will also be closed
 



Usage
Buy
[("EntryLabel")][TradeSize]EntryType

Parameters inside the square brackets are optional 

Parameters 


EntryLabel 
an optional parameterassigns a name that will be displayed in the name label below the entry, and can be used to identify the particular entry and to tie an exit to it.

An exit can only be tied to an entry within the same signal; for more informationsee Sell

If 
EntryLabel is not specifiedthe name "Buy" will be used for the first entry"Buy#2" for the second entry"Buy#3" for the third entryetc


TradeSize an optional parametera numerical expressionspecifying the number of contracts or shares to buythe expression must be followed by one of the following transposable wordsShareSharesContract or Contracts.

If 
TradeSize value equals 0 or is negativea long position will not be entered but any open short positions will be closed.

If 
TradeSize is not specifiedthe trade size value set by the user in the Properties tab of the Strategy Properties window will be used


EntryType a required parameterspecifies the timing and price of entry

There are four kinds of EntryType

This Bar[On]Close 

Where
: - On  is a skip word and can be omitted

A Buy Arrow will be placed at the current bar
's Close tick. 



Next Bar[At]Open  or  Next Bar[At]Market 

Where: - words "Market" and "Open" are transposable
             - At  is a skip word and can be omitted


A Buy Arrow will be placed at the next bar'
s Open tick

Next Bar[At]Price  Limit 

Where
: - Price  is a numerical expressionspecifying the Limit Price
             
At  is a skip word and can be omitted

A Buy Arrow will be placed on the next bar at the first tick with a price value less than 
or equal to Price ; if there are no such ticks within the next barthe order will be cancelled.

Next Bar[At]Price  Stop 
Where
: - Price  is a numerical expressionspecifying the Stop Price
             
At  is a skip word and can be omitted


A Buy Arrow will be placed on the next bar at the first tick with a price value equal to 
or greater than the Price ; if there are no such ticks within the next barthe order will be cancelled
 



Example
Buy a user
-set number of shares at Market price on close of this bar

Buy This Bar On Close



Buy 1 share at Market price on open of next bar and label the entry "Entry"

Buy("Entry")1 Share Next Bar At Open



Buy 1 contract at Market price on open of next bar and label the entry "Entry"

Buy("Entry")1 Contract Next Bar Market



Buy 2 shares within the next bar on the first tick with a price of 100 or less

Buy 2 Shares Next Bar At 100 Limit



Buy 10 contracts within the next bar on the first tick with a price of 50 or more

Buy 10 Contracts Next Bar 50 Stop
As you can see, you can label each order.

Mike

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Last Updated on October 16, 2010


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