Stop Trading After Daily Loss Is Reached  [SOLVED]

I swear I had this working now today it is not. I am trying to have my script trade only if it has not exceeded a daily allowable loss for that day. Below is what I wrote to achieve this. MaxDailyLoss is an input value and YNP is defined as a variable.

This works once a MaxDailyLoss is exceeded but then never starts trading again on the next day.
I would imagine I am missing something really simple here but like I said it was working for me before now seems to no longer work. Before it would shut down for the day then start back up on the next trading day. Thanks for any help.

Hi tony,

what is the exact value for MaxDailyLoss?
My point is that it should be a negative value in your context.

Regards,
ABC

It is a negative value. I swear this was working and now it is not. Wasn't sure if placement of "end;" was in the wrong spot but it appears to be correct after trying a different placement. I am using IOG=True and have IntraBarPersist on all variables including YNP. Once the circuit breaker triggers the script never runs again.

This is weird. To debug it, I would place the following code at the end:
... this is going to generate a series of values for each bar in the Output window in the PowerLanguage Editor, each bar identified marked by the day and time of that bar. I would check each of these values, especially when the date switches over, and see what happens. This may give you a clue as to what is driving the program logic.

After scouring then putting this problem on the side I came back and found what appears to be a conflict. I had this day circuit breaker working just fine. And then I added the following line at the top of my script to specify when the script runs


IF Time is > 0920 AND Time is < 1600


Now if I remove that above line, the daily circuit breaker works. So it appears there is some conflict going on. The "end;" for this above line is placed next to the "end;" for the circuit breaker, both of which are placed after the conditionals to take a position but before the conditionals to exit the position.

I appreciate any insight anyone may have. Thank You!

Well the fix appears to be pretty simple. I just moved the logic for the time in which the script can run to below the logic for the daily circuit breaker and it works fine. I'd love to know why reversing the two causes the daily circuit breaker not to work though. But for now it appears just reversing the order so that the daily circuit breaker logic is before the time logic enables both to work properly.

Hello tony,

Based on the information you have provided I can assume the following:
The date of the bars inside this condition IF Time is > 0920 AND Time is < 1600 is the same.
That is why IF Date <> Date[1] logic did not trigger.

You are correct in your assumption. Can you elaborate further why the order of the two (time the script trades and date<>date[1]) matters. I'm not following the logic behind that. Thank You -

If you are using intraday resolution and date<>date[1] is the first condition then it will trigger only once, on the first bar of the day, when the currentbar date is different from the previous bar date.
The following condition compares the bars that have the same date between 9.20 and 16.00: That is why IF Date <> Date[1] logic does not trigger when it comes after the Time condition.

I understand. Thanks for the help Henry. Much appreciated!