Simple Auto Strategy Help

Hi Team,

I have very little experience in programming and want to create a very simple trading strategy in MultiCharts.

BUY = If Close (0) > Close (-1) -- buy if close of the current bar is greater than the close of the previous bar AND keep buying if this rule continues i.e. if there are 5 bars in a row each with the close higher than the previous bar then you will have a net LONG 5 lot position.

SELL = If Close (0) < Close (-1) -- sell if close of the current bar is less than the close of the previous bar AND keep selling if this rule continues i.e. if there are 5 bars in a row each with the close lower than the previous bar then you will have a net SHORT 5 lot position.

CLOSE entire LONG position when a SELL signal appears and open a SHORT as per the rule
CLOSE entire SHORT position when a BUY signal appears and open a LONG position as per the rule

I've highlighted two examples in the attached screenshot of how this rule should work.

Default Quantity = 1 lot i.e. every time I open or add to a current position I will only trade 1 lot.

When a reverse signal comes into effect i.e. "Close Longs - Open Short" I would sell off my entire long position and then open 1 position short.

Feedback appreciated.
Thank you

EDIT:
I forgot to add my attempt at the code:

inputs: Quantity( 1 );

condition1 = Close > Close[1]
condition2 = Close < Close[1]

if condition1 then
buy ( "BTO" ) Quantity next bar at market;

if condition2 then
sell next bar at market

end;

if condition2 then
sellshort ( "STO") Quantity next bar at market;

if condition1 then
buytocover next bar at market

end;
end;

Rule #1: Nothing is simple

Rule #2: Start with a flow chart. This is the only way you can see clarity in your "simple" logic.

I got to here (see code below) but with this error. Any help appreciate:

ERROR

------ Compiled with error(s): ------
Orders cannot be inside a loop.
errLine 8, errColumn 5, errLineEnd 8, errColumnEnd 5
causal study: (Function)


CODE

I got to here (see code below) but with this error. Any help appreciate:

ERROR

------ Compiled with error(s): ------
Orders cannot be inside a loop.
errLine 8, errColumn 5, errLineEnd 8, errColumnEnd 5
causal study: (Function)


CODE


inputs: Quantity( 1 );

condition1 = Close[0] > Close[1];
condition2 = Close[0] < Close[1];

Repeat
if condition1 then
buy ( "BTO" ) this bar on close;
Until condition2;

if condition2 then
sell ( "STC" ) this bar on close;

Repeat
if condition2 then
sellshort ( "STO" ) this bar on close;
Until condition1;

if condition1 then
buytocover ( "BTC" ) this bar on close;

Have you drawn a flow chart?

ps. please use code tag when posting codes, it makes reading easier.
To tag codes, highlight the codes you are going to post, then click on the "Code" button at the top of the message window.

I have tagged your code in the above post.

Thanks TJ for your help.

The flow chart is as such:

For BUY orders
Buy and keep buying (repeat) each time: Close[0] > Close[1]
Stop buying when: Close[0] < Close[1]
Close entire long position when: Close[0] < Close[1]

For SELL orders
Sell and keep selling (repeat) each time: Close[0] > Close[1]
Stop selling when: Close[0] > Close[1]
Close entire short position when: Close[0] > Close[1]

i.e. you would never have two countermanding positions open at the same time. you would either be SHORT or LONG.

Thanks TJ for your help.

The flow chart is as such:

For BUY orders
Buy and keep buying (repeat) each time: Close[0] > Close[1]
Stop buying when: Close[0] < Close[1]
Close entire long position when: Close[0] < Close[1]

For SELL orders
Sell and keep selling (repeat) each time: Close[0] > Close[1]
Stop selling when: Close[0] > Close[1]
Close entire short position when: Close[0] > Close[1]

i.e. you would never have two countermanding positions open at the same time. you would either be SHORT or LONG.

Try this: