To enhance clarity I opted to start a new tread

My probles is to code an entry with a stop order. A new position should be created within each bar following a setup.

A) Look for valid setup after the end of a bar. If BarStatus = 2

B) If valid setup, then issue a stop order for the next bar

c) If price of the following bar (after the setup) cross over my target, a new position as to be created.


See the result on the attached picture


Any help greatly appreciated....
Martin
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Here is my code for the signal

 

Code

[intrabarOrderGeneration = true] Variables: BN (0), //Bar Number Q (50000), // Quantity to trade SL (0), // Stop Loss LE (0), // Long Entry target MTH (False), //MT_Hammer Flag NB (False), // New Bar Goentry (false), // All is ok, send order to go long sp (spaces(1)); // Just a regular space for the printing process {Look for a valid setup after the completion of a bar ( Barstatus = 2) MT_Hammer = Setup. True if found Q: Quantity. Modified after each new setup to show individual transaction only LE: Long Entry Target. Price should go over this target within the next bar SL: Stop Loss Target. If in position, This one will be close if price go below this target GeEntry: all is OK, Go Send the order to the market Print: Just to make sure that I got visualy the same bar } If barstatus = 2 then begin If MT_Hammer = True then MTH = True else MTH = False; if MTH Then begin Q= Q + 10000; LE = H + .0002; SL = L - .0002; Goentry = true; Print (BarNumber + 40:0:0, sp, date:0:0, sp, Time:0:0, sp,H:0:5, sp, low:0:5, sp, Q:0:0); // To make sure that I got visually the same bar Buy next bars Q contracts at LE stop; setstoploss (q * (Range + .0002) * bigpointvalue); GoEntry = False; end; end;

My Function MT_Hammer

 

Code

{Hammer Fuction Return Hammer =True if all condition is met Output: Tail Hammer (True or False) } Variables: Length(0), Body(0), Tail(0), Nose(0); Variables: LBody(0), HBody(0); LBody = Minlist(Close, Open); // Slect the bottom price of the body HBody =Maxlist(close, open); // Select the upper price of the body Body = HBody - LBody; Tail = LBody - Low; // Tail = Lower part of the body - low of the bar Nose = High - HBody; // Nose = uppr par of the bar Condition1 = Body < Tail; Condition2 = Nose < Tail; //condition3 = close >= high -range/3 ;// close in the top 1/3 od the range If Barstatus = 2 then begin If condition1 and condition2 then MT_Hammer = true else MT_Hammer = False; // The body has to be smaller than the tail by a determined ratio ( RBT) end;

Hello,

I took the liberty of modifying your code where I saw fit. Along the way I had to make some assumptions because what you provided was not a complete system. I assumed you wanted to scale in to your position every time there was a hammer formation. This is controlled within your platform and not within the code. Likewise, you do not need to set intrabar order generation (IOG) to On. This can complicate things and does not affect your system. Stop orders to exit and stop entry orders are placed at the close of a bar for the next bar and are executed in realtime without IOG on. I added a trailing stop just to I could test the program.

I also modified the number of contracts to trade one contract per trade. You can easily change this back to what ever you like.

In the example image you can see the system scales into the position with 1 contract after each hammer. It sets a stop order to enter 2 ticks above the high of the hammer to enter. A hard stop is activated for the order bar only. Then a trailing stop is used for all other bars.



Let me know if you have questions. This was built with TradeStation 8.8

 

Code

{ Hammer Fuction Return Hammer =True if all condition is met Output: Tail Hammer (True or False) } Variables: Length(0), Body(0), Tail(0), Nose(0); Variables: LBody(0), HBody(0); LBody = Minlist(Close, Open); // Slect the bottom price of the body HBody = Maxlist(close, open); // Select the upper price of the body Body = HBody - LBody; Tail = LBody - Low; // Tail = Lower part of the body - low of the bar Nose = High - HBody; // Nose = uppr par of the bar Condition1 = Body < Tail; Condition2 = Nose < Tail; If ( condition1 ) And ( condition2 ) Then MT_Hammer = true Else MT_Hammer = False; // The body has to be smaller than the tail by a determined ratio ( RBT)

 

Code

//[intrabarOrderGeneration = true] // IOG does not need to be used to have orders filled intrabar. IOG is used to evaluate your strategy upon every tick. // It appears to me you are evaluating the close of a 15-minute bar and placing resting orders for next bar, thus // IOG is not needed. Variables: OneTickValue$(iff(GetExchangeName="FOREX", MinMove/PriceScale*BigPointValue*100000, MinMove/PriceScale*BigPointValue)), OneTickValue(iff(GetExchangeName="FOREX", MinMove/PriceScale*100000, MinMove/PriceScale)), Stop$(0), BN (0), // Bar Number Q (1), // Quantity to trade SL (0), // Stop Loss LE (0), // Long Entry target MTH (false), // MT_Hammer Flag NB (false), // New Bar Goentry (false), // All is ok, send order to go long sp (spaces(1)); // Just a regular space for the printing process {Look for a valid setup after the completion of a bar ( Barstatus = 2) MT_Hammer = Setup. True if found Q: Quantity. Modified after each new setup to show individual transaction only LE: Long Entry Target. Price should go over this target within the next bar SL: Stop Loss Target. If in position, This one will be close if price go below this target GeEntry: all is OK, Go Send the order to the market Print: Just to make sure that I got visualy the same bar } Once SetStopPosition; If ( MT_Hammer ) Then Begin //MTH = true; //Goentry = true; //Q = Q + 1; LE = H + 2*OneTickValue; SL = L - 2*OneTickValue; // To make sure that I got visually the same bar Print (BarNumber + 40:0:0, sp, date:0:0, sp, Time:0:0, sp,H:0:5, sp, L:0:5, sp, Q:0:0); // We do not want to place a buy order when range=0 // Check for OnTickValue > 0 to ensure we do not get a division-by-zero error. If ( Range > 0 ) And ( OneTickValue > 0 ) Then Begin Buy("LE") Q contracts next bar at LE stop; Stop$ = ( (range)/OneTickValue*OneTickValue$ ); setstoploss ( Stop$ ); End; //GoEntry = false; End; // Trailing Exit for Longs // Trailing stop handles trade after inital purchase. If ( MarketPosition = 1 ) Then Sell("TSL") next bar at Lowest(Low,3) stop;

Hello Jeff

Many thanks again for your input. I always learn and progress with your inputs.

You where right , this exercise was not at all a trading concept, Only to described my problems to put entry on the system. I was focussing only on the technicality of orders process, nothing from the stop loss. (insane, i know, but that was the my goal. )

For about 1 hour, I chat with Dave M. from Multicharts. Using the remote toll he found that I had

IntraBarOrderGeneration = True with Bar Magnifier = 1 tick enabled at the same time. Together they mess-up the calculation and orders wheres not put or put later. That was the main problem.

Now, I could go on with my real sytem. and yes, the main part is the stop management.

Best wish of success and happiness for 2011 to you and Big Mike forum members.


Martin

You're welcome. Glad to hear things are progressing.

arjfca 

Hello Jeff Many thanks again for your input. I always learn and progress with your inputs. You where right , this exercise was not at all a trading concept, Only to described my problems to put entry on the system. I was focussing only on the technicality of orders process, nothing from the stop loss. (insane, i know, but that was the my goal. ) For about 1 hour, I chat with Dave M. from Multicharts. Using the remote toll he found that I had IntraBarOrderGeneration = True with Bar Magnifier = 1 tick enabled at the same time. Together they mess-up the calculation and orders wheres not put or put later. That was the main problem. Now, I could go on with my real sytem. and yes, the main part is the stop management. Best wish of success and happiness for 2011 to you and Big Mike forum members. Martin