Easylanguage - buying at the breakout and not at candle close?

[Fudgester]

hmm i see . and how do you define S/R . cause from the above posts of yours , its got me really interested on how you look at the market .

P.s: not looking at codeing this . its been only 3 days since i started MC trail , hence dont know how to code much lol

 

[TradeTune]

hey there ,
yes you are right . i did try this out , but on extreme volatalit days or news days . even 1min candle can have a significant range , which might make the difference of my entry price and level price quite a bit .

You can use 15 seconds or 30 seconds Candle or even Tick candles. Even you can use tick time-fram candles

 

[Fudgester]

You can use 15 seconds or 30 seconds Candle or even Tick candles.

hmm ... that sounds better . i guess ill just add a 15sec TF chart as an overlay for data[2] and begin the execution/backtesting on that . thanks

 

[Scataphagos]

hmm i see . and how do you define S/R . cause from the above posts of yours , its got me really interested on how you look at the market .

I look at the market in the most simple way I can imagine... Chapter 1 in any book on TA.

KISS baby, as always.

 

[danielc1]

Can you not write something like buy stop limit at 'level' + 1 tick?

 

[jules190]

There are lots of easy language examples included with MC. For example if you look at 'Channel Breakout LE' you will see:

Buy next bar at HighestFC( Price, Length ) + 1 point stop ;

Where price is the high and length is the predetermined look back.

So this code buys (on the next bar) one tick above the highest high of (length) period.

If you want to buy above a predefined level, you can use this, where 1000 is your level, obviously this would be generated from your code rather than being hard coded:

Buy next bar at 1000 + 1 point stop ;

 

[Fudgester]

There are lots of easy language examples included with MC. For example if you look at 'Channel Breakout LE' you will see:

Buy next bar at HighestFC( Price, Length ) + 1 point stop ;

Where price is the high and length is the predetermined look back.

So this code buys (on the next bar) one tick above the highest high of (length) period.

If you want to buy above a predefined level, you can use this, where 1000 is your level, obviously this would be generated from your code rather than being hard coded:

Buy next bar at 1000 + 1 point stop ;

Thanks a ton. This was exactly what I was looking for. Instead of using close I can use the high or low of a candle break. Thanks

 

[Trader200K]

This also might be helpful:

http://help.tradestation.com/09_01/tradestationhelp/orchart/about_intrabar_order_generation.htm