Automatically Sell Before the Big Stoploss is Hit and the Bar is Finished

[feng2088 10]

I am trading off the 15 min bars and i have a stoploss of $150...let's say if my Buy order is executed at 10:00AM and I want my limit sell order to be executed within 1 min. If the sell order is still open at 10:01AM, the syetem would sell it for a much smaller loss(=> $12.5, but smaller than <$150). This is something I can't test on SIM because my limit sell order always get executed regardless of the volume. But in real life, even my limit sell price gets hit, I might not be able to sell it due to the low volume. Would these codes work? Thank you for your time!

 

 

Time_elapsed(0),
Stoploss(0);


Stoploss = 150;
Time_elapsed= Time - entrytime;


If Time_elapsed > 1 and MarketPosition = 1 then StopLoss = 12.5;


Setstopposition;
SetStopLoss(StopLoss);

[feng2088 10]

doesn't look like it's working....any idea?

[Tams 20]

doesn't look like it's working....any idea?

 

have you read the manual?

 

 

what is not working?

 

how is it that it is not working?

 

what are your parameters?

 

how should it work under your parameters?

 

how should it not trigger under your parameters?

[feng2088 10]

I tested it....when a profit traget hit and the sell order didn't get executed within a min..the system wouldn't close the postion for me the next min with this small stoploss..I think it has something to do with this line "If Time_elapsed > 1 "...can we really compare times (currenttime Vs. entrytime) in easylanguage? how does it read this value 1? 1 min ? 1 hour? I tried 0001 but no luck.

[Tams 20]

I tested it....when a profit traget hit and the sell order didn't get executed within a min..the system wouldn't close the postion for me the next min with this small stoploss..I think it has something to do with this line "If Time_elapsed > 1 "...can we really compare times (currenttime Vs. entrytime) in easylanguage? how does it read this value 1? 1 min ? 1 hour? I tried 0001 but no luck.

 

you should start with a plot... instead of buy/sell etc.

 

 

read your manual.

[UrmaBlume 10]

The graphic below is of a volume bar chart

 

The 7.9% shows that the bar is 7.9 percent complete

with 52.3% selling in that 7.9% and 47.7% buying in that bar so far

 

The percentages are updated with every tick. Runs on volume/tick bars in TradeStation.

 

 

[feng2088 10]

NIce indicator. Where can I download it?

[PeterBrazel 10]

UmaBlume,

This is very interesting.

"Runs on volume/tick bars in TradeStation."

 

How can I account for volume on a tick bar chart within TS?

[Tams 20]

you can get something similar here:

 

Volume Bias

http://www.traderslaboratory.com/forums/f46/volume-bias-6519.html

 

see post #39 for TS version

 

 

156.282.29.53

[UrmaBlume 10]

UmaBlume,

This is very interesting.

"Runs on volume/tick bars in TradeStation."

 

How can I account for volume on a tick bar chart within TS?

 

it counts ticks in a tick chart and volume in volume bars.

 

Our view of time/tick/volume charts is that the passage of time does nothing to motivate price, so we don't use them for trading. Rather it is the occurrence of trade that motivates price movement and more specifically it is an imbalance in that trade that moves price directionally.

 

A tick chart treats all transaction equally so that a buy of a 1 lot carries the same weight as a buy of a 1,000 lot so we use volume charts which let us measure the imbalance and hence have an idea of the strength of the motivation behind price movements.

 

Where we do use time charts is in the serial normalization of financial market data so that absolute values of volume and price volatility can be normalized to the degree that they can be compared instrument to instrument.

 

Below is a scan of popular US Futures contracts for both relative trade volumes and local price volatilities and below that is a scan of some forex pairs for relative local price volatilities.

 

The percentages are percentages of what is normal for that instrument normalized for volume, price volatility and time of day. Times are PST so these shots are about 40 minutes old as I post. This application runs in the TradeStation Radar Screen, updates every minute and includes 400 stocks and ETFs.

 

From these charts we try and play where the action is so we are mostly trading what is hot and not trading what is not.

 

 

 

cheers

 

UrmaBlume