ABCTG 

Hi Spencer, in Multicharts for example orders that are sent as one group like an entry with a stop and target would be treated as OCO. Once the stop or target is hit the other order would get cancelled. Regards, ABCTG

Hey thanks ABCTG

when you say "the other order would get cancelled" do you mean ALL the other orders? Or do you mean just the amount of contracts --- like target1 gets hit and it is 1 contract so it only takes 1 contract off the stop? It seems like the way it is written here, it makes me think when ANY stop or target is hit, it cancels everything which is why it is reset ?

thanks
Spencer

Spencer,

I didn't test this particular code, but from what I see the worst that could happen is that when there is a scale out of the position the remaining stop order gets cancelled and resend with the new (remaining) size.
I would always suggest to test drive the code behavior on a demo account to make sure it does what you want it to do.

Regards,
ABCTG

spinnybobo 

Hey thanks ABCTG when you say "the other order would get cancelled" do you mean ALL the other orders? Or do you mean just the amount of contracts --- like target1 gets hit and it is 1 contract so it only takes 1 contract off the stop? It seems like the way it is written here, it makes me think when ANY stop or target is hit, it cancels everything which is why it is reset ? thanks Spencer

Dear Mike,
Much thanks for your sharing, it helps me a lot.
best regards,
Ben

Hi,

I have the a similar problem where I would like to execute all trades on the same bar if possible instead of waiting for next one. Pl. see image. where last position should have hit target on prior bar. Also in this case it stops out directly. Do not know shy. Seem to be the wrong sequence trade. many thanks in advance.

 

Code

[IntrabarOrderGeneration = true] inputs: smalength ( 200 ), emalength ( 100 ), hmalength ( 34 ), target1 ( 12 ), target2 ( 12 ), target3 ( 20 ), stopsize ( 12 ), BE2 ( 0 ), // 0=false, 1=true BE3 ( 0 ), // 0=false, 1=true rsilength ( 14 ), Price ( Close) , Oversold ( 30 ), Overbought ( 70 ); vars: TickSize ( MinMove / PriceScale ), smav ( 0 ), emav ( 0 ), hmav ( 0 ), t1 ( target1 * TickSize ), t2 ( (target1 + target2) * TickSize ), t3 ( (target1 + target2 + target3) * TickSize ), st1 ( 0 ), st2 ( 0 ), st3 ( 0 ), var0 ( 0 ); smav = Average(Close, smalength); emav = XAverage(Close, emalength); hmav = jtHMA(Close, hmalength); var0 = RSI(Price,rsilength); // open new positions if (BarStatus(1) = 2) then begin condition8 = var0 crosses above oversold; end; if (BarStatus(1) = 2) then begin condition18 = var0 crosses belowx overbought; end; if MarketPosition = 0 then begin if condition8 then begin Buy ("Enter long") 3 Contracts Next Bar At Market; end; if condition18 then begin SellShort ("Enter short") 3 Contracts Next Bar At Market; end; end; // manage open orders if MarketPosition = 1 then begin st1 = EntryPrice - (stopsize * TickSize); st2 = iff(BE2 = 1, EntryPrice, EntryPrice - (stopsize * TickSize)); st3 = iff(BE3 = 1, EntryPrice, EntryPrice - (stopsize * TickSize)); if CurrentContracts = 1 then begin Sell ("Exit l3-c1 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit; Sell ("Exit l3-c1 Stop") 1 Contracts Next Bar At st3 Stop; end; if CurrentContracts = 2 then begin Sell ("Exit l2-c2 Target") 1 Contracts Next Bar At (EntryPrice + t2) Limit; Sell ("Exit l2-c2 Stop") 1 Contracts Next Bar At st2 Stop; Sell ("Exit l3-c2 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit; Sell ("Exit l3-c2 Stop") 1 Contracts Next Bar At st3 Stop; end; if CurrentContracts = 3 then begin Sell ("Exit l1-c3 Target") 1 Contracts Next Bar At (EntryPrice + t1) Limit; Sell ("Exit l1-c3 Stop") 1 Contracts Next Bar At st1 Stop; Sell ("Exit l2-c3 Target") 1 Contracts Next Bar At (EntryPrice + t2) Limit; Sell ("Exit l2-c3 Stop") 1 Contracts Next Bar At st2 Stop; Sell ("Exit l3-c3 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit; Sell ("Exit l3-c3 Stop") 1 Contracts Next Bar At st3 Stop; end; end; if MarketPosition = -1 then begin st1 = EntryPrice + (stopsize * TickSize); st2 = iff(BE2 = 1, EntryPrice, EntryPrice + (stopsize * TickSize)); st3 = iff(BE3 = 1, EntryPrice, EntryPrice + (stopsize * TickSize)); if CurrentContracts = 1 then begin BuyToCover ("Exit s3-c1 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit; BuyToCover ("Exit s3-c1 Stop") 1 Contracts Next Bar At st3 Stop; end; if CurrentContracts = 2 then begin BuyToCover ("Exit s2-c2 Target") 1 Contracts Next Bar At (EntryPrice - t2) Limit; BuyToCover ("Exit s2-c2 Stop") 1 Contracts Next Bar At st2 Stop; BuyToCover ("Exit s3-c2 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit; BuyToCover ("Exit s3-c2 Stop") 1 Contracts Next Bar At st3 Stop; end; if CurrentContracts = 3 then begin BuyToCover ("Exit s1-c3 Target") 1 Contracts Next Bar At (EntryPrice - t1) Limit; BuyToCover ("Exit s1-c3 Stop") 1 Contracts Next Bar At st1 Stop; BuyToCover ("Exit s2-c3 Target") 1 Contracts Next Bar At (EntryPrice - t2) Limit; BuyToCover ("Exit s2-c3 Stop") 1 Contracts Next Bar At st2 Stop; BuyToCover ("Exit s3-c3 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit; BuyToCover ("Exit s3-c3 Stop") 1 Contracts Next Bar At st3 Stop; end; end;

stefanols 

Hi, I have the a similar problem where I would like to execute all trades on the same bar if possible instead of waiting for next one. Pl. see image. where last position should have hit target on prior bar. Also in this case it stops out directly. Do not know shy. Seem to be the wrong sequence trade. many thanks in advance.

Enable intrabar order generation, and use bar magnifier to allow trades within a bar, as opposed to next bar.

I would be interested in seeing a sample code for a trailing stop with a trailing step.
The built in trailing stop function (setdollartrailing) works in a very primitive way, in that it starts trailing once peak profit is hit based on the amount of loss entered in the setdollartrailing function.
What I want is to be able to start a trailing stop from any price that I specify, and then step it by x number of pips, rather than 1 pip, which seems to be the default.

Hello folks,

I need to know if anyone can use or program the dollar difference tool in Multicharts easylanguage.
means if we draw a trendline it gives the difference of the price...
Please help anyone is aware of it!

I would love to see more video tutorials for Multicharts.

Hi everyone, Just joined today and love the site. My question is from a past post Mike had done regarding his post, "How to create an advanced MultiCharts EasyLanguage Strategy." I'm using TradeStation and programming a strategy. I actually copied Mike's coding and it's exactly what I'm looking for when it comes to scaling out, but have added in my own entry criteria, Unfortunately, I have a couple of problems I can't seem to figure out.

1. I have a particular signal that the trade is executed on. Kind of like a trend signal. After all my targets 3 targets are hit, the problem I'm having is, I don't want the strategy to execute another trade on the same trend signal. Once I'm filled on my third target, it will immediately execute another order and most of the time I'm stopped out giving away all the profits I just made. Does anyone know the coding to only allow it to execute one trade per signal?

2. Does anyone know the coding for a start and stop time the strategy will run? Basically just want to trade the morning E Mini S&P session, nothing after lunch.. I've tried to use the following, but not sure where to put it in the code so it functions properly.

input:
begin_time(0929),
end_time(1200);
if time > begin_time and time < end_time then
begin
{--Enter trade criteria here}
{--- EOD liquidation ---}
if time > end_time then
begin
if marketposition > 0 then sell next bar at market;
if marketposition < 0 then buytocover next bar at market;
end;

3. My final question is, what would be the coding for a maximum loss dollar wise per day and a maximum profit per day.. Once either of those are met, the system stops trading. I would need it to take into account any previous days profit or losses as well as calculate the current trade into the total.. Another words, if my max loss were $500 and I'm down $300 and the system executes another trade, it realizes I only have $200 more to go before it stop trading for the day.

If someone could help me with these final touches, I would appreciate it more than you know. I would need the coding and where to put them. Actually, if you could put them in the following code from Mike on June 2011, that would be terrific.


Mikes coding:

Big Mike Trading

June 2011

}





inputs:

smalength ( 200 ),

emalength ( 100 ),

hmalength ( 34 ),

target1 ( 12 ),

target2 ( 12 ),

target3 ( 20 ),

stopsize ( 12 ),

BE2 ( 0 ), // 0=false, 1=true

BE3 ( 0 ); // 0=false, 1=true



vars:

TickSize ( MinMove / PriceScale ),

smav ( 0 ),

emav ( 0 ),

hmav ( 0 ),

t1 ( Target1 * TickSize ),

t2 ( (Target1 + Target2) * TickSize ),

t3 ( (Target1 + Target2 + Target3) * TickSize ),

st1 ( 0 ),

st2 ( 0 ),

st3 ( 0 );



smav = Average(Close, smalength);

emav = XAverage(Close, emalength);

hmav = jtHMA(Close, hmalength);





// open new positions



if MarketPosition = 0 then begin



if smav > smav[1] and emav > emav[1] and hmav > hmav[1] then begin



Buy ("Enter long") 3 Contracts Next Bar At Market;



end;



if smav < smav[1] and emav < emav[1] and hmav < hmav[1] then begin



SellShort ("Enter short") 3 Contracts Next Bar At Market;



end;

end;



// manage open orders



if MarketPosition = 1 then begin



st1 = EntryPrice - (stopsize * TickSize);

st2 = iff(BE2 = 1, EntryPrice, EntryPrice - (stopsize * TickSize));

st3 = iff(BE3 = 1, EntryPrice, EntryPrice - (stopsize * TickSize));



if CurrentContracts = 1 then begin

Sell ("Exit l3-c1 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit;

Sell ("Exit l3-c1 Stop") 1 Contracts Next Bar At st3 Stop;

end;



if CurrentContracts = 2 then begin

Sell ("Exit l2-c2 Target") 1 Contracts Next Bar At (EntryPrice + t2) Limit;

Sell ("Exit l2-c2 Stop") 1 Contracts Next Bar At st2 Stop;

Sell ("Exit l3-c2 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit;

Sell ("Exit l3-c2 Stop") 1 Contracts Next Bar At st3 Stop;

end;



if CurrentContracts = 3 then begin

Sell ("Exit l1-c3 Target") 1 Contracts Next Bar At (EntryPrice + t1) Limit;

Sell ("Exit l1-c3 Stop") 1 Contracts Next Bar At st1 Stop;

Sell ("Exit l2-c3 Target") 1 Contracts Next Bar At (EntryPrice + t2) Limit;

Sell ("Exit l2-c3 Stop") 1 Contracts Next Bar At st2 Stop;

Sell ("Exit l3-c3 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit;

Sell ("Exit l3-c3 Stop") 1 Contracts Next Bar At st3 Stop;

end;

end;



if MarketPosition = -1 then begin



st1 = EntryPrice + (stopsize * TickSize);

st2 = iff(BE2 = 1, EntryPrice, EntryPrice + (stopsize * TickSize));

st3 = iff(BE3 = 1, EntryPrice, EntryPrice + (stopsize * TickSize));



if CurrentContracts = 1 then begin

BuyToCover ("Exit s3-c1 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit;

BuyToCover ("Exit s3-c1 Stop") 1 Contracts Next Bar At st3 Stop;

end;



if CurrentContracts = 2 then begin

BuyToCover ("Exit s2-c2 Target") 1 Contracts Next Bar At (EntryPrice - t2) Limit;

BuyToCover ("Exit s2-c2 Stop") 1 Contracts Next Bar At st2 Stop;

BuyToCover ("Exit s3-c2 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit;

BuyToCover ("Exit s3-c2 Stop") 1 Contracts Next Bar At st3 Stop;

end;



if CurrentContracts = 3 then begin

BuyToCover ("Exit s1-c3 Target") 1 Contracts Next Bar At (EntryPrice - t1) Limit;

BuyToCover ("Exit s1-c3 Stop") 1 Contracts Next Bar At st1 Stop;

BuyToCover ("Exit s2-c3 Target") 1 Contracts Next Bar At (EntryPrice - t2) Limit;

BuyToCover ("Exit s2-c3 Stop") 1 Contracts Next Bar At st2 Stop;

BuyToCover ("Exit s3-c3 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit;

BuyToCover ("Exit s3-c3 Stop") 1 Contracts Next Bar At st3 Stop;

end;



end;


Thanks so much in advance
Paul

Paul,

regarding your questions:

1. This is hard to say without the exact code. In general you can store the time or bar when your signal conditions are true in a variable. Then before you issue your entry, you use a second variable and check if the value within the second variable is different than the value in the first variable - if it is, you allow the entry and update the second variable to the value of the first variable. This would only allow entries on new signals.

2. Your entry conditions and entry orders would have to go within the section labeled "{--Enter trade criteria here}".

3. @Big Mike posted some code that can accomplish that:

EasyLanguage Daily Profit and Daily Loss limit in strategy I needed this for my own strategies, so I wanted to share it here. This will allow a dollar limit of daily loss and daily profit targets, whereby if one or the other is hit then the strategy will stop for the day. If you wanted to make it weekly, it …

Regards,

ABCTG

FormerAMEXTrader 

Hi everyone, Just joined today and love the site. My question is from a past post Mike had done regarding his post, "How to create an advanced MultiCharts EasyLanguage Strategy." I'm using TradeStation and programming a strategy. I actually copied Mike's coding and it's exactly what I'm looking for when it comes to scaling out, but have added in my own entry criteria, Unfortunately, I have a couple of problems I can't seem to figure out. 1. I have a particular signal that the trade is executed on. Kind of like a trend signal. After all my targets 3 targets are hit, the problem I'm having is, I don't want the strategy to execute another trade on the same trend signal. Once I'm filled on my third target, it will immediately execute another order and most of the time I'm stopped out giving away all the profits I just made. Does anyone know the coding to only allow it to execute one trade per signal? 2. Does anyone know the coding for a start and stop time the strategy will run? Basically just want to trade the morning E Mini S&P session, nothing after lunch.. I've tried to use the following, but not sure where to put it in the code so it functions properly. input: begin_time(0929), end_time(1200); if time > begin_time and time < end_time then begin {--Enter trade criteria here} {--- EOD liquidation ---} if time > end_time then begin if marketposition > 0 then sell next bar at market; if marketposition < 0 then buytocover next bar at market; end; 3. My final question is, what would be the coding for a maximum loss dollar wise per day and a maximum profit per day.. Once either of those are met, the system stops trading. I would need it to take into account any previous days profit or losses as well as calculate the current trade into the total.. Another words, if my max loss were $500 and I'm down $300 and the system executes another trade, it realizes I only have $200 more to go before it stop trading for the day. If someone could help me with these final touches, I would appreciate it more than you know. I would need the coding and where to put them. Actually, if you could put them in the following code from Mike on June 2011, that would be terrific. Mikes coding: Big Mike Trading June 2011 } inputs: smalength ( 200 ), emalength ( 100 ), hmalength ( 34 ), target1 ( 12 ), target2 ( 12 ), target3 ( 20 ), stopsize ( 12 ), BE2 ( 0 ), // 0=false, 1=true BE3 ( 0 ); // 0=false, 1=true vars: TickSize ( MinMove / PriceScale ), smav ( 0 ), emav ( 0 ), hmav ( 0 ), t1 ( Target1 * TickSize ), t2 ( (Target1 + Target2) * TickSize ), t3 ( (Target1 + Target2 + Target3) * TickSize ), st1 ( 0 ), st2 ( 0 ), st3 ( 0 ); smav = Average(Close, smalength); emav = XAverage(Close, emalength); hmav = jtHMA(Close, hmalength); // open new positions if MarketPosition = 0 then begin if smav > smav[1] and emav > emav[1] and hmav > hmav[1] then begin Buy ("Enter long") 3 Contracts Next Bar At Market; end; if smav < smav[1] and emav < emav[1] and hmav < hmav[1] then begin SellShort ("Enter short") 3 Contracts Next Bar At Market; end; end; // manage open orders if MarketPosition = 1 then begin st1 = EntryPrice - (stopsize * TickSize); st2 = iff(BE2 = 1, EntryPrice, EntryPrice - (stopsize * TickSize)); st3 = iff(BE3 = 1, EntryPrice, EntryPrice - (stopsize * TickSize)); if CurrentContracts = 1 then begin Sell ("Exit l3-c1 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit; Sell ("Exit l3-c1 Stop") 1 Contracts Next Bar At st3 Stop; end; if CurrentContracts = 2 then begin Sell ("Exit l2-c2 Target") 1 Contracts Next Bar At (EntryPrice + t2) Limit; Sell ("Exit l2-c2 Stop") 1 Contracts Next Bar At st2 Stop; Sell ("Exit l3-c2 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit; Sell ("Exit l3-c2 Stop") 1 Contracts Next Bar At st3 Stop; end; if CurrentContracts = 3 then begin Sell ("Exit l1-c3 Target") 1 Contracts Next Bar At (EntryPrice + t1) Limit; Sell ("Exit l1-c3 Stop") 1 Contracts Next Bar At st1 Stop; Sell ("Exit l2-c3 Target") 1 Contracts Next Bar At (EntryPrice + t2) Limit; Sell ("Exit l2-c3 Stop") 1 Contracts Next Bar At st2 Stop; Sell ("Exit l3-c3 Target") 1 Contracts Next Bar At (EntryPrice + t3) Limit; Sell ("Exit l3-c3 Stop") 1 Contracts Next Bar At st3 Stop; end; end; if MarketPosition = -1 then begin st1 = EntryPrice + (stopsize * TickSize); st2 = iff(BE2 = 1, EntryPrice, EntryPrice + (stopsize * TickSize)); st3 = iff(BE3 = 1, EntryPrice, EntryPrice + (stopsize * TickSize)); if CurrentContracts = 1 then begin BuyToCover ("Exit s3-c1 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit; BuyToCover ("Exit s3-c1 Stop") 1 Contracts Next Bar At st3 Stop; end; if CurrentContracts = 2 then begin BuyToCover ("Exit s2-c2 Target") 1 Contracts Next Bar At (EntryPrice - t2) Limit; BuyToCover ("Exit s2-c2 Stop") 1 Contracts Next Bar At st2 Stop; BuyToCover ("Exit s3-c2 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit; BuyToCover ("Exit s3-c2 Stop") 1 Contracts Next Bar At st3 Stop; end; if CurrentContracts = 3 then begin BuyToCover ("Exit s1-c3 Target") 1 Contracts Next Bar At (EntryPrice - t1) Limit; BuyToCover ("Exit s1-c3 Stop") 1 Contracts Next Bar At st1 Stop; BuyToCover ("Exit s2-c3 Target") 1 Contracts Next Bar At (EntryPrice - t2) Limit; BuyToCover ("Exit s2-c3 Stop") 1 Contracts Next Bar At st2 Stop; BuyToCover ("Exit s3-c3 Target") 1 Contracts Next Bar At (EntryPrice - t3) Limit; BuyToCover ("Exit s3-c3 Stop") 1 Contracts Next Bar At st3 Stop; end; end; Thanks so much in advance Paul