Breakeven Problems (no Run-up or DD Values)

[Firefly 10]

Morning, was hoping someone might be able to shed some light on the following.

 

here is the code,

 

value1 is 10,000 and x is 20pips

 

 

if ((AvgTrueRange(Length))*value1) >= x then begin

 

SetStopPosition;

 

SetBreakEven((AvgTrueRange(Length))*value42);

 

end;

 

 

 

if ((AvgTrueRange(Length))*value1) < x then begin

 

SetStopPosition;

 

SetBreakEven(x);

 

end;

 

 

unfortunately the above code is creating errors. Tradestations report is showing no run up or DD and seems to be exiting the trade at the same point its getting in.

 

am i being stupid and missing something rather stupid? if so please enlighten me!

 

Rgds

 

Firefly

[bakrob99 11]

What else would you expect it to do? As shown, there are no other ways to exit the trade than at breakeven.

[Firefly 10]

this is just the breakeven part of the code.the prob is that the tradestation report should show a run up of at least X before the breakeven is initiated.in some cases it's not and that's what I'm confussed by.

 

Thanks for replyin

[bakrob99 11]

The way I read your code the first condition will always be greater than the second so it will exit you immediately.

 

Use a PRINT STATEMENT to the EasyLanguageOutPutBar to veridy the values of your variables.

 

Example:

 

PRINT(Barnumber," Date ",date," Time ",time," Value1 ",Value1," AverageTrueRange(Length) ",AverageTrueRange(Length));

[Firefly 10]

how will it b greater? I was trying to set a lower threshold on the atr value.so if it was going to b below 20 then 20 will be the value for the breakeven OTHERWISE it will b X times the ATR.

[bakrob99 11]

Trust me. Just print out your values and see what they are.

[Firefly 10]

Aye ok I'll give that a shot.gonna hit the sack now though but it will b the first thing I do tomorrow.cheers again for your help.

[Firefly 10]

Hi, ok ive done a print statement like you suggested ( thanks for showin me how to do that btw) and there are a couple values just below where i set my X value. all the other values are greater. (these results were run from 2003.)

 

i still dont understand why its giving me these weird results. could u please put it in layman term?

 

ive attached a pic of the tradestation report.

 

thanks again

 

Firefly

[Tams 20]

take it one step further...

 

add the print command after every assignment statement.

you can then track how and where the variables were manipulated.

[Firefly 10]

any chance u could come into the chat room please?

[bakrob99 11]

ive attached a pic of the tradestation report. ...

Firefly

 

 

What are the results of the EasyLanguageOutPutBar values at any of these points. (VIEW --> EASYLANGUAGEOUTPUTBAR )

 

Show those results ... can't tell anything from your screen shot. That just shows what you described. (We are trying to look under the hood here)

[Firefly 10]

attached a screen shot of the values and the corresponding tradestation report.

 

values are bottom left and corresponding date is on the right. Those results are for an X value of 10 pips.

[bakrob99 11]

I'm sorry FireFly ... but the only thing I see is a value for "Avg1" ... and that variables was not one of the variables in the original question.

 

It's really quite simple. Just print the values of ALL the calculations and the variables that you are using in the SetExit Statement.

 

You will probably discover that one of them is quite different than you think it is. And when you resolve that you're problem will go away.

 

That has been my experience programming strategies in Easylanguage. (Actually in any language)

 

An example: You are thinking that the condition needs to be multiplied by 10000 by maybe it needs to be multiplied by .00001. That is the type of thing you will discover.

 

Good luck.. keep at it. The ahahhhh moment is soon coming.

[Firefly 10]

hi, ive tried changing the name but for some reason it doesnt seem to like it.

 

print("date - ",ELDateToString(date),"ATR",plot1:3:3,"X",plot2);

 

still plots ATR as Avg1

 

anyway

 

Avg1 refers to (atr(length3)*value42)

 

X is 10.

 

for example, atr is 0.0014 = 14 pips. X is in pips therefore ATR value does need to be multiplied by 10000

 

there are no other parts to this so i dont understand where i can be going wrong.

[bakrob99 11]

OKay well here's what's happening.

 

First the definition of SETBREAKEVEN

 

Orders Generated

Market Order to Sell (Long Exit) or Market Order to Buy to Cover (Short Exit)

 

Signal Name

BreakEven Stop

 

Example

Exit all shares or contracts in all positions at the breakeven point if the position has been up at least $25.00 in profit at some point.

 

SetBreakEven(25)

 

Exit all shares or contracts in all positions at the breakeven point if the position has been up at least $0.25 from the entry price..

 

SetStopShare;

SetBreakEven(.25)

 

Setbreakeven is a STOP LOSS EXIT , not a TAKE PROFIT EXIT. It says that oince the value of your trade exceeds the SetBreakEVen Amount ... then the stop is moved to exit you at breakeven.

 

You need to use a TRAILING PROFIT STOP in conjunction with this.