Possible to trade contract that isn't within dataset

Hi,

I have been racking my brain about this for some time but am not sure it is even possible within EL/MC.

For example, in either normal MC or portfolio trader if I have SPY 1 minute bars as data1 and SPY daily bars as data2 and I have a signal that calculates a strike price and expiration date for an SPY options contract that I would like to generate an order on.

Is it possible to take this information of an options contract and have an order be automatically generated for this contract even if it is not part of the datasets on the chart / in the portfolio?

In this example I would not know the contract I would be wanting the signal to be looking at and could not add it to the chart / portfolio ahead of time as I would imagine to load up a large number of contracts across a large number of symbols would be quite cumbersome / also not possible.

It is a long shot but thought I would ask as many people here are far more wise then I am with this program.

Thanks in advance for any help / insight you can provide.

Hi,

I have been racking my brain about this for some time but am not sure it is even possible within EL/MC.

For example, in either normal MC or portfolio trader if I have SPY 1 minute bars as data1 and SPY daily bars as data2 and I have a signal that calculates a strike price and expiration date for an SPY options contract that I would like to generate an order on.

Is it possible to take this information of an options contract and have an order be automatically generated for this contract even if it is not part of the datasets on the chart / in the portfolio?

In this example I would not know the contract I would be wanting the signal to be looking at and could not add it to the chart / portfolio ahead of time as I would imagine to load up a large number of contracts across a large number of symbols would be quite cumbersome / also not possible.

It is a long shot but thought I would ask as many people here are far more wise then I am with this program.

Thanks in advance for any help / insight you can provide.

Not sure if this can work in your scenario,
you can start your research on:

Symbol Mapping

Say all options contracts were properly mapped in MC - in the EL programming functions & reserved words guide there is a function called "limitorder" and based off the description and example it does exactly what I would like. The example is as follows:


Value1 = LimitOrder("Once","SIM15180","Sell","Equity","MSFT",100,"Day","",24.35);

This is page 164 of the guide.

Whereas I could choose the type to be "equityoption" instead of equity and choose the proper symbol string for the contract that I desire.

However, EL in MC does not have this function and in the help guide built into the editor I cannot seem to find a similar function / ability to place such an order.

Am I missing that there is a similar function but I cannot find it? Or is it possible to create such a function from scratch?

Wow, this is embarrassing.

After using this for a year I now found out that MC uses Powerlanguage which is slightly different than Easy Language, hence the lack of this function.

I am going through the Multicharts literature to see if I can figure this one out but any tips are much appreciated.

Is it possible to take this information of an options contract and have an order be automatically generated for this contract even if it is not part of the datasets on the chart / in the portfolio?

Hello pedro565,

There is no way to do that in PowerLanguage.

In MultiCharts (with PowerLanguage) you can trade one symbol per chart only. Your trading series is always the main data series (data1).
If you want to trade a certain number of instruments-you need to have a chart open for each symbol.
You can add second, third, etc. data series (subcharts) with XXX instrument and XXX resolution to your chart for reference only.
The same can be done in Portfolio Trader. Portfolio Trader and its new features is best solution for creating such strategy.
If you do not want to use the Portfolio Trader – you can link multiple charts to share information between them using Global Variables: https://www.multicharts.com/trading-sof ... _Variables

In MultiCharts .NET that is possible to create a study that will place orders to multiple different instruments (not only data1 symbol).
Please refer to unmanaged approach documentation and examples:
viewtopic.php?f=19&t=45848#p100799

Is it possible to take this information of an options contract and have an order be automatically generated for this contract even if it is not part of the datasets on the chart / in the portfolio?

Hello pedro565,

There is no way to do that in PowerLanguage.

In MultiCharts (with PowerLanguage) you can trade one symbol per chart only. Your trading series is always the main data series (data1).
If you want to trade a certain number of instruments-you need to have a chart open for each symbol.
You can add second, third, etc. data series (subcharts) with XXX instrument and XXX resolution to your chart for reference only.
The same can be done in Portfolio Trader. Portfolio Trader and its new features is best solution for creating such strategy.
If you do not want to use the Portfolio Trader – you can link multiple charts to share information between them using Global Variables: https://www.multicharts.com/trading-sof ... _Variables

In MultiCharts .NET that is possible to create a study that will place orders to multiple different instruments (not only data1 symbol).
Please refer to unmanaged approach documentation and examples:
viewtopic.php?f=19&t=45848#p100799

Thank you very much for the response Henry and the literature for reading. This question was related to a signal that I wanted to begin writing in a month or so but the idea hit me now so I asked early.

If I get a .NET license, how do the signals and functions I have written into standard MC transfer over? Is the .NET version a hybrid powerlanguage / C# or purely C#?

If I get a .NET license, how do the signals and functions I have written into standard MC transfer over? Is the .NET version a hybrid powerlanguage / C# or purely C#?

There's no transfer over of scripts from MultiCharts (PowerLanguage) to MultiCharts .NET, unfortunately. The basic MultiCharts indicators, signals, and functions are available in MultiCharts .NET too, but other than that it's a rewriting.