I read about a strategy that is used on a 15 minute bar and waits for an inside bar, then it trades the break of the high and the low of the bar before the inside bar. I've been trying to code the strategy in EL, but am having difficulty with a couple of things. Some help would be appreciated. First, does anybody know what this strategy might be called, or where I can read about it in detail?
As far as the coding goes (keep in mind I am very new at EL and programming at all):
(1) If I put the strategy I have written on a fifteen minute chart, it only trades (in and out) on a fifteen minute time ie 10:00, 2:15 etc.
(2) The code I wrote is not trading only after an inside bar. It is trading more often than that.
(3) I don't know how to do anything other than a fixed stop. I'd like to code this to stop a tick or two (best if I could optimize that) above or below the bar previous to the inside bar. I would assume I use a variable for the high or low price of that bar and then add or subtract a tick to it or something like that, but I don't quite have my head wrapped around it.
Most important: A BIG thanks to anybody who could help!