Shooting Star's high and low in Rules

Teoking1996

#1

3/3/2021 9:43 PM

Hello guys, i have just downloaded the trial version of the software and It has beenhours that i am trying to set a strategy without success.

Here's my strategy I want to backtest...

Conditions:

A shooting star appears
The shooting star "high" is the highest "high" in the last 7 days
The day after the shooting star pattern, prices goes below the minumum of the shooting star. (downtrend is starting)

Stop Loss: at the "high" of the shooting star
Take profit: 2 times the height of the shooting star candlestick projected below the shooting star (so if the shooting star range = (high - low) = 5 and the minimum of the shooting star is at 25$, i want to take profit at a price level equal to 25 - (2 * 5) = 15$

I really don't know how to set those conditions, please help me!

Thank you

Cone

#2

3/3/2021 10:40 PM

The buy (or short) rule isn't clear to me. What's the trigger to enter the position?

I'm not a wizard-rules expert, but it's likely that you won't be able to get that exit logic from the wizard and will need to code that by hand.

Eugene

#3

3/4/2021 5:23 AM

Wow, given that you're from France too as the user who started the lengthy conversation below on a somewhat similar Shooting Star strategy 12 years ago this looks like a funny coincidence!

Shooting Star strategy with multiple profit targets

Eugene

#4

3/4/2021 5:31 AM

This code should do the trick:

CODE:
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Size:

Color:

This code should do the trick:

[code]using System;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;
using WealthLab.Rules.Candlesticks;

namespace WealthLab.Strategies
{
	public class Teoking1996_20210304 : WealthScript
	{
		protected override void Execute()
		{
			bool[] ShootingStar;
			CandlePattern.BearishShootingStar(this, "ShootingStar", true, out ShootingStar);

int ssBar = -1; double ssPrice = 0;
			DataSeries hh = Highest.Series(High, 7);
			PlotSeries(PricePane, hh, Color.Blue, LineStyle.Solid, 1);

for (int bar = GetTradingLoopStartBar(8); bar < Bars.Count; bar++)
			{
				if (IsLastPositionActive)
				{
					Position p = LastPosition;

if (!CoverAtStop(bar + 1, p, p.RiskStopLevel, "Stop"))
						CoverAtLimit(bar + 1, p, p.AutoProfitLevel, "Target");
				}
				else
				{
					//A shooting star appears
					if (ShootingStar[bar - 1])
					{
						ssBar = bar - 1; ssPrice = Low[ssBar];
					}

//The shooting star "high" is the highest "high" in the last 7 days
					if (ssBar > 0 && hh[ssBar] >= High[ssBar])
						//The day after the shooting star pattern, prices goes below the minumum of the shooting star. (downtrend is starting)
						if (Low[bar] < Low[ssBar] && bar == ssBar+1)
						{
							if (ShortAtMarket(bar + 1) != null)
							{
								//Stop Loss: at the "high" of the shooting star
								LastActivePosition.RiskStopLevel = High[ssBar];
								//Take profit: 2 times the height of the shooting star candlestick projected below the shooting star 
								//(so if the shooting star range = (high - low) = 5 and the minimum of the shooting star is at 25$, 
								//i want to take profit at a price level equal to 25 - (2 * 5) = 15$
								double range = High[ssBar] - Low[ssBar];
								LastActivePosition.AutoProfitLevel = Low[ssBar] - 2.0 * range;
							}
						}
				}
			}
		}
	}
}[/code]

Teoking1996

#5

3/4/2021 9:23 AM

Thank you very much for your code. I swear i'm not the guy from 12 years ago, also because at that time the best thing I could trade was Pokémon cards ahahahah

can you just change a small detail? i noticed that it enters a short position two days after the shooting star (because it waits that the candle following the ss goes below the low of the ss and then the day after it shorts), is it possible to make it enter the day immediately after the ss (so as soon as the prices goes below the minimum of the ss it enters at that price)? Also if you could reduce the range multiplier from 2 to 1.5 would be great.

Thank you very much!.
Sorry if I am a pain in the neck!
p.s.

Which coding language is it? i'm trying to study python but this looks different

Eugene

#6

3/4/2021 9:55 AM

Glad to help you.

QUOTE:
is it possible to make it enter the day immediately after the ss (so as soon as the prices goes below the minimum of the ss it enters at that price)?

You can change this C# code to enter on close of the day: