Temporary entry level [SOLVED]

meras · Postby **meras** » 06 Aug 2022

I am making the frame for a simple strategy, yet I have problems getting it to work the way I want it to.

Bar color:
I color the bars based on the signals given by indicators. Basically I'm using MACD and RSI. The colors are defined like this:
Green: if both indicators give a long signal
Red: if both indicators give a short signal
Black: if the indicators give different signals (white bars on the chart)
In the attatched file I have used a paintbar indicator to color the bars. The orange lines are drawn using the drawing tools

Here is the part where I struggle:
The entry level for going long is the hight of the first green bar (first orange line in the attached image). If the price crosses the entry level, then it should produce a buying signal.
If the bar color changes to red or black, then the entry level is no longer valid and should be disabled.

I hope the above makes sense. Here is the code I use

Code: Select all

////////////////////////////MACD////////////////////////////
inputs:
	MACDFastLength( 12 ),
	MACDSlowLength( 26 ),
	MACDLength( 9 ) ;

variables:
	MACDsig ( 0 ),
	MACDAvg( 0 ),
	MACDDiff( 0 ),
	MACDLongEntry (true),
	MACDShortEntry (true),
	MACDLongExit (true),
	MACDShortExit (true);

	MACDsig = MACD( Close, MACDFastLength, MACDSlowLength ) ;
	MACDAvg = XAverage( MACDsig , MACDLength ) ;
	MACDDiff= MACDsig - MACDAvg;

//MACD Entry
	MACDLongEntry = MACDDiff crosses over 0;
	MACDShortEntry = MACDDiff crosses under 0;

//MACD Exit
	MACDLongExit = MACDDiff crosses under 0;
	MACDShortExit = MACDDiff crosses over 0;


////////////////////////////RSI////////////////////////////
inputs:
	RSILength (14),
	RSIOverSold (50),
	RSIOverBought(50);

variables:
	RSILine( 0 ),
	RSILongEntry (true),
	RSIShortEntry (true),
	RSILongExit (true),
	RSIShortExit (true);

	RSILine= RSI( close, RSILength) ;


//RSI Entry
	RSILongEntry = RSILine crosses over RSIOverSold ;
	RSIShortEntry = RSILine crosses under RSIOverBought;

//RSI Exit
	RSILongExit = RSILine crosses under RSIOverSold ;
	RSIShortExit = RSILine crosses over RSIOverBought;


////////////////////////////DEFINE BAR COLOR////////////////////////////
vars:	
	setGreenBar (false),
	setRedBar (false),
	setBlackBar (false),
	entryTriggerLong (false),
	entryLevelLong(0); 


//Define green bar
setGreenBar = MACDLongEntry = true and RSILongEntry = true;

//Define red bar
setRedBar = MACDLongEntry = false and RSILongEntry = false;

//Define black bar
setBlackBar = (MACDLongEntry = true or RSILongEntry = true) and (MACDLongEntry = false or RSILongEntry = false);



//First Green bar
if setGreenBar = true and setGreenBar[1] = false then begin
entryLevelLong = High;
entryTriggerLong = true;
	end;

if setBlackBar = true or setRedBar = true then begin
entryTriggerLong = false;
	end;


////////////////////////////ENTRY SIGNAL////////////////////////////

//Entry Long
if marketposition = 0 and setGreenBar = true and close > entryLevelLong then begin;
	Buy ( "TestEntry" ) 1 contracts next bar at market ;
	end;

////////////////////////////EXIT////////////////////////////

if marketposition = 1 and MACDLongExit = true or RSILongExit = true then
	Sell ( "TestExit" ) 1 contracts next bar at market ;

Note: I dont want to enter the trade on the next bar, but instead when the price breaks above the entry level. I'm quite inexperienced with MC and therefore try to tackle one problem at a time.

TJ · Postby TJ » 06 Aug 2022

If you want to trigger an order intra-bar in real-time,
You need to set IOG IntrabarOrderGeneration to TRUE.

meras · Postby **meras** » 08 Aug 2022

If you want to trigger an order intra-bar in real-time,
You need to set IOG IntrabarOrderGeneration to TRUE.

Thank you. I will keep that in mind when I start working on that

meras · Postby **meras** » 11 Aug 2022

I have solved the issue using the following:

Code: Select all

//Define first Green
if setGreenBar = true and setGreenBar[1] = false then begin
	entryLevelLong = High;
  	entryLevelDateStart = date;
	end;


//Define last Green
if setGreenBar = false and setGreenBar[1] = true then begin
	entryLevelDateEnd = date[1];
	end;


entryLine = tl_new(entryLevelDateStart , Time, entryLevelLong, entryLevelDateEnd, Time, EntryLevelLong);
		tl_setend(entryLine, entryLevelDateEnd, Time, EntryLevelLong);
		tl_setColor(entryLine, yellow);
		tl_setsize(entryLine, 1);
		tl_setstyle(entryLine, 1);

Essentially looking into the trendline properties instead of plot.

Temporary entry level [SOLVED]

Temporary entry level

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Re: Temporary entry level

Re: Temporary entry level [SOLVED]