I have been trying to work out the exit strategy within my Multicharts MACD setup.

*******************************************************
inputs: FastLength( 12 ), SlowLength( 26 ), MACDLength( 9 ), myProtfitTarget(1),{Profit Target set at 1 tick}
myStopLoss(30); {30 ticks Stop Loss @ $10/tick/contact}

variables: var0( 0 ), var1( 0 ), var2( 0 ), PT (myProtfitTarget * TickSize {* BigPointValue}), SL (myStopLoss * TickSize {* BigPointValue}), OpenPosPL(0);

var0 = MACD( Close, FastLength, SlowLength ) ;
var1 = XAverage( var0, MACDLength ) ;
var2 = var0 - var1 ;



OpenPosPL = GetPositionOpenPL(GetSymbolName,GetAccountID);

condition1 = var2 crosses over 0;
condition2 = var2 crosses under 0;

if OpenPosPL{marketposition} = 0 then begin

if condition1 then begin
Buy ("bullish") 1 contract this bar on Close;
//Alert( "Bullish alert" )
//Sell ("Exit l3-c1 Target") 1 Contracts Next Bar At (entryprice + PT) Limit;
//Sell ("Exit l3-c1 Stop") 1 Contracts Next Bar At SL Stop;
SetStopContract;
SetStopLoss (300);
SetProfitTarget (10);

end;

if condition2 then begin
SellShort ("bearish") 1 contract this bar on Close;
//Alert( "Bearish alert" ) ;
//BuyToCover ("Exit l3-c1 Target") 1 Contracts Next Bar At (entryprice - PT) Limit;
//BuyToCover ("Exit l3-c1 Stop") 1 Contracts Next Bar At SL Stop;
SetStopContract;
SetStopLoss (300);
SetProfitTarget (10);

end;


*************************************

Here I have esablished the for SL $300 and PT $10. I want a way to check and see if I am flat. "if marketposition = 0 then begin" does not seem to work with "SetStopLoss" and "SetProfitTarget". It recognizes the initial conditions are met places a buy or sell order then the program gets lost. I have tried a variable using "GetPositionOpenPL" instead of "marketposition" in hope to achieve the same info as to whether or not I am flat. It works but the SL and PT an re not consistent and are not placed with every entry......Please help!

didn't check the code in MC but just a first look,

didn't you forget and end; statement as there are 3 begins and 2 end; ???

Hi bam2809,

why do you do you place

 

Code

SetStopContract; SetStopLoss (300); SetProfitTarget (10);

inside your condition checks? I must admit that I don't exactly understand what you are trying to do, but
if you use one instance of

 

Code

SetStopContract; SetStopLoss (300); SetProfitTarget (10);

at the end of your code for example, MC should take care of the proper order management by itself.

Regards,
ABCTG

bam2809 

I have been trying to work out the exit strategy within my Multicharts MACD setup. ******************************************************* inputs: FastLength( 12 ), SlowLength( 26 ), MACDLength( 9 ), myProtfitTarget(1),{Profit Target set at 1 tick} myStopLoss(30); {30 ticks Stop Loss @ $10/tick/contact} variables: var0( 0 ), var1( 0 ), var2( 0 ), PT (myProtfitTarget * TickSize {* BigPointValue}), SL (myStopLoss * TickSize {* BigPointValue}), OpenPosPL(0); var0 = MACD( Close, FastLength, SlowLength ) ; var1 = XAverage( var0, MACDLength ) ; var2 = var0 - var1 ; OpenPosPL = GetPositionOpenPL(GetSymbolName,GetAccountID); condition1 = var2 crosses over 0; condition2 = var2 crosses under 0; if OpenPosPL{marketposition} = 0 then begin if condition1 then begin Buy ("bullish") 1 contract this bar on Close; //Alert( "Bullish alert" ) //Sell ("Exit l3-c1 Target") 1 Contracts Next Bar At (entryprice + PT) Limit; //Sell ("Exit l3-c1 Stop") 1 Contracts Next Bar At SL Stop; SetStopContract; SetStopLoss (300); SetProfitTarget (10); end; if condition2 then begin SellShort ("bearish") 1 contract this bar on Close; //Alert( "Bearish alert" ) ; //BuyToCover ("Exit l3-c1 Target") 1 Contracts Next Bar At (entryprice - PT) Limit; //BuyToCover ("Exit l3-c1 Stop") 1 Contracts Next Bar At SL Stop; SetStopContract; SetStopLoss (300); SetProfitTarget (10); end; ************************************* Here I have esablished the for SL $300 and PT $10. I want a way to check and see if I am flat. "if marketposition = 0 then begin" does not seem to work with "SetStopLoss" and "SetProfitTarget". It recognizes the initial conditions are met places a buy or sell order then the program gets lost. I have tried a variable using "GetPositionOpenPL" instead of "marketposition" in hope to achieve the same info as to whether or not I am flat. It works but the SL and PT an re not consistent and are not placed with every entry......Please help!