Previous Bar Closing Entry

[Theresa]

Hi all, just like to know if there is any strategy in the forum that have this entry method.
1. If the previous bar close higher than opening price, put a "buy position 1 pips above the previous bar closing" stop and limit predetermine by trader.. Example.. stop can be 30-50 pips away depending on time frame play..

2. If the previous bar close lower than opening price, put a "sell position 1 pips below previous bar closing" entry. Stop & limit predetermine by trader..

Can this be program?

Thanks

[Apprentice]

Try this version.
viewtopic.php?f=31&t=64166

[Theresa]

Hi Apprentice, thanks for the reply.
Yes, it's something i am looking for but do have a few term inside that i don't understand. If you could please explain to me..
1. Execution Parameters : Live / End of turn (What doesn't it mean)
2. Close on opposite : yes / no ( Does this mean if buy signal, sell entry will be close or vise versa)
3. Custom Identifier : PBCES (What does it mean)
4. Use position cab : Yes / No (How does it work)
5. Trailing stop order : It doesn't have choose to set no of pips
6. Use Optimal Exit : yes / No (What does this mean)
7. Valid interval for operation in second : 60 (What does this mean)

I hope to learn more from this strategy.

Thanks in advance.

[Apprentice]

1. Execution Parameters : Live / End of turn (What doesn't it mean)
Live given immediate alert
End of turn, will be Delayed by candle end.

2. Close on opposite : yes / no ( Does this mean if buy signal, sell entry will be close or vise versa)
Yes

3. Custom Identifier : PBCES (What does it mean)
This Custom Identifier will be added to all strategies,
opened by this strategy.
If other strategy support, Custom Identifier, will prevent them from closing other strategy positions.

4. Use position cab : Yes / No (How does it work)
If yes to NO.
Position cab, during opening of position, will not be used.

5. Trailing stop order : It doesn't have choose to set no of pips
6. Use Optimal Exit : yes / No (What does this mean)
Deleted

7. Valid interval for operation in second : 60 (What does this mean)
If andatory Closing Time is used.
Exit interval is allowed within a set number seconds from Mandatory Closing Time

[Theresa]

Hi Apprentice, thanks for the reply and explanation.

I have try the strategy but now a little confuse how it works.

I set the time frame to 30 minute with delta 2, limit 10 and stop 30 with both direction trade and close on opposite and below are some of the incident which i hope can be explain.

1. At 9:15 i suddenly have a entry for sell which i though should be 9:30 where my time frame is 30 minute. Is it due to the delta 2 pips reach only it enter?
2. Every 30 minute there should be an entry unless its' the same direction than no new entry will be enter, am i correct?
3. Refer to no.2, there are a few time the opposite direction appear but still i don't see new entry. Sometimes it does sometime it doesn't. what should i do?

SO far the above is what i encounter and would like to seek your advice on how does the strategy work.

Thanks

[Apprentice]

Try it now.
Can you provide parameters used.

[Theresa]

Hi Apprentice, sorry for the late reply.
The parameters i am using is Delta 5, 5 minute time frame.

After using the system i notice that the "Max No of Open Position in any Direction" & Max No of position in one direction" didn't follow the rules. My parameter is 2 & 1 but i can see sometimes when market trend i have 5 position in one direction.

It look like a very good strategy if you could understand the way to use it. Thanks but i hope with the changes on the above it can be even better.

Thanks Apprentice.

[Theresa]

Hi Apprentice,

After using the strategy for 1 month, now getting to understand more about it. It's a powerful strategy but only workable with FXCM Trade Station.

Can it be converted to MT4 with all the same parameter as would like to try on other platform to see the effectiveness.

I do have some problem with TradeStation as the real ac backtest result is not the same as the actual ac. Entry time and date is okay but the entry price is totally out or else it would be a great strategy for everyone. If you could help as now the FXCM technician is hacking on it too.

Thanks

[Apprentice]

Your request is added to the development list, Under Id Number 3747
If someone is interested to do this task, please contact me.

[Theresa]

Hi Apprentice,

When doing a backtest on FXCM TradeStation simulator, the strategy mandatory stop does work. Example my stop time is 15:00:00 and mandatory stop is 15:15:00, the stop new entry comply as no new entry after that but by 15:15:00 every should be exit but it doesn't until the new start time start again. This only happen at simulator, in real trading ac there isn't any problem.
Is this problem with the fxcm simulator or anything need to adjust to the trading strategy?
Regards & Thanks