HI all,
I get very confused with the signal when the marketing position is not 1 or -1..i.e. with flat position, don't understand why the line after else goes like

 

Code

Sell ( "AtrLX-eb" ) next bar at High - var0 stop

, the position is flat, what is it for SELL? Likewise in the ATR Trialing SX coding what is it for BuytoCover?

I am trying to use this signal to exit in my HSI trading algo, and it always cause the buy and sell to happen within the same bar.

Hope someone experienced with this signal can give me some guidance.

Thanks

=====================
[IntrabarOrderGeneration = false]
inputs: ATRLength( 10 ), NumATRs( 3 ) ;
variables: var0( 0 ), var1( 0 ), var2( 0 ) ;

var0 = AvgTrueRange( ATRLength ) * NumATRs ;
var1 = MarketPosition ;

if var1 = 1 then
begin
condition1 = var1[1] <> 1 or High > var2 ;
if condition1 then
var2 = High ;
Sell ( "AtrLX" ) next bar at var2 - var0 stop ;
end
else
Sell ( "AtrLX-eb" ) next bar at High - var0 stop ;

my2108,

in Multicharts PowerLanguage "Sell" refers to exiting a long position and "BuyToCover" is the cover of a short position.

The code you posted checks for the MarketPosition being 1 i.e. the code is in a long position and will then issue these exit orders.

Regards,

ABCTG

HI ABCTG,

I am aware of what Sell and BuytoCover do. Just that if I look at the first "If" statement, if Position != 1, then it still triggers a sell...that's the bit I don't understand.

And if you look at ATR Trailing SX signal, if Position != -1 (hence either in flat or positive position) then it will still trigger a buytocover :

 

Code

var0 = AvgTrueRange( ATRLength ) * NumATRs ; var1 = MarketPosition ; if var1 = -1 then begin condition1 = var1[1] <> -1 or Low < var2 ; if condition1 then var2 = Low ; Buy To Cover ( "AtrSX" ) next bar at var2 + var0 stop ; end else Buy To Cover ( "AtrSX-eb" ) next bar at Low + var0 stop ;

Anyone who can give me some guidance will be highly apprecaited.

ABCTG 

my2108, in Multicharts PowerLanguage "Sell" refers to exiting a long position and "BuyToCover" is the cover of a short position. The code you posted checks for the MarketPosition being 1 i.e. the code is in a long position and will then issue these exit orders. Regards, ABCTG

my2108,

I am not sure I follow you correctly. The code example you posted below has the first if statement starting with: "if var1 = -1 then" i.e. it is only executed when you are in a short position and it triggers "Buy To Cover" orders i.e. the closing orders for the short position.
The second Buy To Cover simply serves as an entry bar protection as without intrabar order generation the change in the market position would only be detected until the end of the bar. This way you are not left without a stop during your entry bar and the platform won't issue the order when you are flat or long.

Regards,

ABCTG

my2108 

HI ABCTG, I am aware of what Sell and BuytoCover do. Just that if I look at the first "If" statement, if Position != 1, then it still triggers a sell...that's the bit I don't understand. And if you look at ATR Trailing SX signal, if Position != -1 (hence either in flat or positive position) then it will still trigger a buytocover :   Code var0 = AvgTrueRange( ATRLength ) * NumATRs ; var1 = MarketPosition ; if var1 = -1 then begin condition1 = var1[1] <> -1 or Low < var2 ; if condition1 then var2 = Low ; Buy To Cover ( "AtrSX" ) next bar at var2 + var0 stop ; end else Buy To Cover ( "AtrSX-eb" ) next bar at Low + var0 stop ; Anyone who can give me some guidance will be highly apprecaited.

HI ABCTG - thanks for your comment...the intrabar order generation insight is something new to me...
But thats very useful indeed.

Thank you again.

ABCTG 

my2108, I am not sure I follow you correctly. The code example you posted below has the first if statement starting with: "if var1 = -1 then" i.e. it is only executed when you are in a short position and it triggers "Buy To Cover" orders i.e. the closing orders for the short position. The second Buy To Cover simply serves as an entry bar protection as without intrabar order generation the change in the market position would only be detected until the end of the bar. This way you are not left without a stop during your entry bar and the platform won't issue the order when you are flat or long. Regards, ABCTG