TS Indicator Know if Long/Short for Equity Curves?

[TradeMonster 10]

Is there a way for a TS indicator to know if a strategy position is long/short?

 

I am trying to create a "max possible gain" and "max possible loss" line as an indicator below a strategy chart. Starting with the basic code from emini-edges, I have the below which works reasonably well based on closing prices of bars.

 

I would like to have the "max..." lines actually depict the true "max profit" for the High/Low of bars for Long/Short positions. Since indicators can't use EntryPrice and strategies can't use Plotx, how can I either know if the position is long or short, or how can I properly position these "max" lines to show high/low of bars with knowledge of being long/short? :crap:

 

Thanks,

TM

 

Input: DayPositiveColor(Cyan),DayNegativeColor(DarkCyan),OpenPositiveColor(Green),OpenNegativeColor(Red),MaxPossibleProfitColor(Yellow),MaxPossibleLossColor(DarkMagenta),ZeroLineColor(DarkGray);

Variables:
OpenProfit(0),DayProfit(0),PLB4Today(0),MaxPossibleProfit(0),MaxPossibleLoss(0),OpenEq(0);

OpenProfit = I_OpenEquity;
OpenEq = I_OpenEquity - I_ClosedEquity;

If date <> date[2] Then 
begin
	PLB4Today = OpenProfit[1];
	MaxPossibleProfit = 0;
	MaxPossibleLoss = 0;
end;

DayProfit = OpenProfit - PLB4Today;

If (DayProfit > 0) Then SetPlotColor(2, DayPositiveColor)
Else SetPlotColor( 2, DayNegativeColor );

If (OpenEq > 0) Then SetPlotColor(3, OpenPositiveColor)
Else SetPlotColor(3, OpenNegativeColor);

// Check for all conditions of max profit potential of the day - Long trades
If MaxPossibleProfit < DayProfit then
MaxPossibleProfit = DayProfit{ + ((High-Close)*BigPointValue)};
If MaxPossibleProfit < OpenEq then
MaxPossibleProfit = OpenEq{ + ((High-Close)*BigPointValue)};

// Check for all conditions of max loss potential of the day - Long trades
If MaxPossibleLoss > OpenEq then
MaxPossibleLoss = OpenEq{ - ((Close-Low)*BigPointValue)};
If MaxPossibleLoss > DayProfit then
MaxPossibleLoss = DayProfit{ - ((Close-Low)*BigPointValue)};

//Short trades? (How can an indicator know if long/short?)

Plot1(0,"Zero Line",ZeroLineColor);
Plot2(DayProfit,"Daily P&L");
Plot3(OpenEq,"Open P&L");
Plot4(MaxPossibleProfit, "Max Profit", MaxPossibleProfitColor);
Plot5(MaxPossibleLoss, "Max Loss", MaxPossibleLossColor);

[EasyTrader_I 10]

Hi,

 

Since indicators can't use EntryPrice and strategies can't use Plotx, how can I either know if the position is long or short,

 

Have you tried I_MarketPosition and I_AvgEntryPrice in Indicators.?

 

EasyTrader_I.

Edited October 19, 2010 by EasyTrader_I
Bold

[TradeMonster 10]

EasyTrader_I,

 

Thanks! I have a long background in programming, and EL is new to me - thanks for your help!

 

If people want to have their equity curves based on bar closings, use the code in the original post. For those that like using the high/low of bars as a pseudo measure of "efficiency" of a trading day, please use the code below.

 

 

TradeMonster

 

Input:
   NumDayColors(1),
   DayPositiveColor(Cyan),
   DayNegativeColor(DarkCyan),
   NumOpenColors(2),
   OpenPositiveColor(Green),
   OpenNegativeColor(Red),
   ClosedProfitColor(Blue),
   MaxPossibleProfitColor(Yellow),
   MaxPossibleLossColor(DarkMagenta),
   ZeroLineColor(DarkGray);

Variables:
   OpenProfit(0),
   DayProfit(0),
   PLB4Today(0),
   MaxPossibleProfit(0),
   MaxPossibleLoss(0),
   OpenEq(0),
   MP(0),
   AvgEntry(0),
   ClosedProfit(0);

// == PROGRAM STARTS HERE ====================================================================
If date <> date[2] Then 
   begin
       PLB4Today = OpenProfit[1];
       MaxPossibleProfit = 0;
       MaxPossibleLoss = 0;
   end;

OpenProfit = I_OpenEquity;
OpenEq = I_OpenEquity - I_ClosedEquity;
MP = I_MarketPosition;
AvgEntry = I_AvgEntryPrice;
ClosedProfit = I_ClosedEquity - PLB4Today;
DayProfit = OpenProfit - PLB4Today;

If (NumDayColors = 1) or (DayProfit > 0) Then SetPlotColor(2, DayPositiveColor)
Else SetPlotColor(2, DayNegativeColor);

If (NumOpenColors = 1) or (OpenEq > 0) Then SetPlotColor(3, OpenPositiveColor)
Else SetPlotColor(3, OpenNegativeColor);

If MP = 1 then
Begin
   If MaxPossibleLoss > (ClosedProfit - ((AvgEntry-Low)*BigPointValue)) then
       MaxPossibleLoss = (ClosedProfit - ((AvgEntry-Low)*BigPointValue));
   If MaxPossibleProfit < (ClosedProfit + ((High-AvgEntry)*BigPointValue)) then
       MaxPossibleProfit = (ClosedProfit + ((High-AvgEntry)*BigPointValue));
End;
If MP = -1 then
Begin
   If MaxPossibleLoss > (ClosedProfit - ((High-AvgEntry)*BigPointValue)) then
       MaxPossibleLoss = (ClosedProfit - ((High-AvgEntry)*BigPointValue));
   If MaxPossibleProfit < (ClosedProfit + ((AvgEntry-Low)*BigPointValue)) then
       MaxPossibleProfit = (ClosedProfit + ((AvgEntry-Low)*BigPointValue));
End;

If MP = 0 then
Begin
   If MaxPossibleLoss > ClosedProfit then
       MaxPossibleLoss = ClosedProfit;
   If MaxPossibleProfit < ClosedProfit then
       MaxPossibleProfit = ClosedProfit;
End;

Plot1(0,"Zero Line",ZeroLineColor);
Plot2(DayProfit,"Daily P&L");
Plot3(OpenEq,"Open P&L");
Plot4(MaxPossibleProfit, "Max Profit", MaxPossibleProfitColor);
Plot5(MaxPossibleLoss, "Max Loss", MaxPossibleLossColor);
Plot6(ClosedProfit,"Closed", ClosedProfitColor);