1. In order to do proper backtesting, do I need to use "buy this bar on close" or can I use "buy next bar at the market"?
2. If I need to use "this bar on close" for backtesting, will I need to change anything performed "this bar on close" to "next bar at the market" to execute live trades?
3. Does Multicharts support intrabarordergeneration for Renko? This appears to work in backtesting, but I wanted to verify. For instance, can you set stops to execute in the middle of the bar as below (for ES box side 1 point).
FYI - I haven't compiled this code as I'm not at home right now. Its for example purposes.
Code: Select all
[intrabarordergeneration = True]
{Close of Bar Actions}
If BarStatus(1) = 2 then Begin
If Close > Open then buy next bar at the market;
End;
{Intrabar Stop}
If BarStatus(1) = 1 Then Begin
If MarketPosition = 1 then begin
{Market Defined stop}
Sell next bar (EntryPrice - BoxSize * 2 + MinMove) Stop;
{Round number stop}
Sell next bar 1260 stop;
End;
End;