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Not Trading during Economic Events


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w0lverine
Charlotte, NC, United States
 
Posts: 1 since Apr 2019
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I am creating a strategy to not trade during specific economic events i.e EIA or FOMC statements or be in a trade during those times. But I am not sure what If statement I need. I have the following code:

Quoting 
variables:
Avg1( 0 ),
Avg2( 0 ),
MP (0), //MarketPosition Reservered word
StartUnemploymentRate1 ( 0829),
EndUnemploymentRate1 ( 0830),
StartCrudeOilInvetories1 ( 1029),
EndCrudeOilInvetories1 ( 1031),
StartCrudeOilInvetories2 ( 1100),
EndCrudeOilInvetories2 ( 1101),
StartNaturalGasInventories1 ( 1029),
EndNaturalGasInventories1 ( 1031),
StartCropProduction1 ( 1159),
EndCropProduction1 ( 1201),
StartFOMCStatement1 ( 1259),
EndFOMCStatement2 ( 1259),
StartofDay ( 0931),
EndofDay ( 1500);

//Economic Announcements that we do not want to trade in:

Condition1 = T >= StartUnemploymentRate1 and T <= EndUnemploymentRate1;
Condition2 = T >= StartCrudeOilInvetories1 and T <= EndCrudeOilInvetories1;
Condition3 = T >= StartCrudeOilInvetories2 and T <= EndCrudeOilInvetories2;
Condition4 = T >= StartNaturalGasInventories1 and T <= EndNaturalGasInventories1;
Condition5 = T >= StartCropProduction1 and T <= EndCropProduction1;
Condition6 = T >= StartFOMCStatement1 and T <= EndFOMCStatement2;
Condition7 = T >= StartofDay and T <= EndofDay;


//Need to define strategy to not trade during these predetermined timeframes

// This ensures me all trades are closed before the respective time
if MarketPosition <> 0 and Condition1 = True then begin

if MarketPosition = 1 then Sell All Contracts Next Bar At Market;
if MarketPosition = -1 then Buytocover All Contracts Next Bar At Market;

end;

I will eventually turn this into a function and create a large Or statement but for now, I am trying to figure out how to ensure I am not in a trade during the stated times. While MarketPosition is helpful, it can cause issues depending on what chart type I use. So what is a good If statement to use to ensure I am not in a trade during the predefined times?


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