Entering Stop orders when a trade has been stopped out

pholding2001

#1

2/17/2021 2:16 PM

Hi,

I have a simple long/short reversal system with 3xATR stops.

When a position has been stopped out, I would like to add an order to reenter the trade at the original price, in the original direction with a 3xATR stop. If price reaches the original entry price, I would like a new trade to be triggered. If, however, a new trade is entered in the opposite direction, I would like the order to be cancelled. Is that something you could help me with?

Many thanks

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Hi,

I have a simple long/short reversal system with 3xATR stops.

When a position has been stopped out, I would like to add an order to reenter the trade at the original price, in the original direction with a 3xATR stop. If price reaches the original entry price, I would like a new trade to be triggered. If, however, a new trade is entered in the opposite direction, I would like the order to be cancelled. Is that something you could help me with?

Many thanks

[code]
using System;
using System.Collections.Generic;
using System.Linq;
using System.Text;
using System.Threading.Tasks;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;

namespace ConsoleDebugCodingForTraders
{
	public class SimpleReveralSystemWithStop2 : WealthScript
	{
		protected override void Execute()
		{

//Define indicators
			DataSeries fastMa = SMA.Series(Close, 10);
			DataSeries slowMa = SMA.Series(Close, 100);
			int period = Math.Max(fastMa.FirstValidValue, slowMa.FirstValidValue);

//Show indicators on chart
			PlotSeries(PricePane, fastMa, Color.Blue, LineStyle.Solid, 2);
			PlotSeries(PricePane, slowMa, Color.Red, LineStyle.Solid, 2);
			PlotStops();

for (int bar = GetTradingLoopStartBar(period + 1); bar < Bars.Count; bar++)
			{
				
				//Define Conditions
				bool maXo = CrossOver(bar, fastMa, slowMa);
				bool maXu = CrossUnder(bar, fastMa, slowMa);

//Define Variables
				bool goLong = maXo;
				bool goShort = maXu;

// The first trade
				if (Positions.Count == 0)
				{
					if (goLong)
						BuyAtClose(bar + 0);
					else if (goShort)
						ShortAtClose(bar + 0);
				}

// Subsequent trades
				else
				{
					Position p = LastPosition;
					if (p.PositionType == PositionType.Long)

RiskStopLevel = Close[bar] + 3 * ATR.Value(bar, Bars, 14);
						CoverAtStop(bar + 0, p, p.RiskStopLevel, "Stopped Long");

if (goShort)
					{
						ShortAtClose(bar + 0);
						SellAtClose(bar + 0, p);
					}
					
					else RiskStopLevel = Close[bar] - 3 * ATR.Value(bar, Bars, 14);
						 SellAtStop(bar + 0, p, p.RiskStopLevel, "Stopped Short");
					if (goLong)
					{
						BuyAtClose(bar + 0);
						CoverAtClose(bar + 0, p);
					}
				}
			}
		}
	}
}
[/code]

Eugene

#2

2/17/2021 3:35 PM

Hi,

Here's sample code of a simple long-only system to make a reentry on your conditions. Didn't have time to test it too much though. Reentry for a SAR type of system would be less intuitive and harder to manage so I'm not going to approach this.

Note that your draft code should not be used due to various errors (from syntax to peeking into the future).

CODE:
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Hi,

Here's sample code of a simple long-only system to make a reentry on your conditions. Didn't have time to test it too much though. Reentry for a SAR type of system would be less intuitive and harder to manage so I'm not going to approach this.

Note that your draft code should not be used due to various errors (from syntax to peeking into the future).

[code]using System;
using System.Collections.Generic;
using System.Linq;
using System.Text;
using System.Threading.Tasks;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;

namespace ConsoleDebugCodingForTraders
{
	public class SimpleReveralSystemWithStop2 : WealthScript
	{
		protected override void Execute()
		{
			//Define indicators
			DataSeries fastMa = SMA.Series(Close, 10);
			DataSeries slowMa = SMA.Series(Close, 100);
			int period = Math.Max(fastMa.FirstValidValue, slowMa.FirstValidValue);

//Show indicators on chart
			PlotSeries(PricePane, fastMa, Color.Blue, LineStyle.Solid, 2);
			PlotSeries(PricePane, slowMa, Color.Red, LineStyle.Solid, 2);
			PlotStops();

/*When a position has been stopped out, I would like to add an order to reenter the trade at the original price, in the original direction with a 3xATR stop.*/

bool canReenter = false;

for (int bar = GetTradingLoopStartBar(period + 1); bar < Bars.Count; bar++)
			{
				//Define Conditions
				bool maXo = CrossOver(bar, fastMa, slowMa);
				bool maXu = CrossUnder(bar, fastMa, slowMa);

if (IsLastPositionActive)
				{
					Position p = LastPosition;
					if (maXu)
					{
						SellAtClose(bar, p, "Regular exit");
						canReenter = false;
					}
					else
					if (SellAtStop(bar + 1, p, p.RiskStopLevel, "Stopped"))
						canReenter = true;
				}
				else
				{
					if (maXo)
					{
						RiskStopLevel = Close[bar] - 3 * ATR.Value(bar, Bars, 14);
						if( BuyAtClose(bar) != null)
							canReenter = false;
					}

if (canReenter)
					{
						double prev = LastPosition.EntryPrice;
						RiskStopLevel = Close[bar] - 3 * ATR.Value(bar, Bars, 14);
						if( BuyAtLimit(bar + 1, prev, string.Format("Reentry at {0}", prev)) != null )
							canReenter = false;
					}					
				}			
			}
		}
	}
}[/code]

Eugene

#3

2/17/2021 3:36 PM

P.S. This may be of some help as well:

Reentry after stop loss

pholding2001

#4

2/18/2021 10:06 AM

Hi Eugene,

Thanks for your help. It sounds like what I'm trying to do is quite difficult. I'll see what I can do.

Regarding your comment:

"Note that your draft code should not be used due to various errors (from syntax to peeking into the future)."

I've gone over the code and cannot see where the problems lie. Can you be more specific? I'm looking to open/close trades in the last 10 mins of the session when there is a cross over (which is of course not confirmed until the close). Is this what you mean by peeking into the future?

And regarding syntax errors, my limited experience is not letting me see them. Can you be more specific?

Cheers

Eugene

#5

2/18/2021 10:31 AM

1. Missing braces here (and more):

CODE:
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The resulting signals will not make sense even if you fix this - it's more than a simple fix.

2. Peeking into the future with bar+0 for anything but AtClose: