BuyAtLimit order over a period of time

Author: novemberindiakilo

Creation Date: 7/9/2019 2:28 AM

Wealth Lab » WealthScript (.NET) » BuyAtLimit order over a period of time

novemberindiakilo

7/9/2019 2:28 AM

I am new to WealthLab and so apologies if this question sounds too naive.

I am trying to set a BuyAtLimit order over a period of time that spans multiple bars and not just one bar. However the BuyAtLimit format doesn't seem to allow for that. So I tried to come up with the following code (that tries to set up a limit order over a period of 10 bars) but it throws up errors.

CODE:
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Eugene

7/9/2019 4:31 AM

Nikith, welcome to the forum. Please clarify on why you intend to make an order active over a period of time that spans multiple bars. In WealthScript, a signal is processed on each bar already. If you expand on the trading system logic you're trying to accomplish, there may be a design pattern for you.

novemberindiakilo

7/9/2019 2:57 PM

Thanks for the response.

BuyAtLimit may or may not execute based on the limit price. If I set the limit price too low, chances are high that the order doesn't fill. In such a case, I would like to set the BuyAtLimit across multiple bars and continue searching until it results in a fill in the period spanning multiple bars.

novemberindiakilo

7/9/2019 3:16 PM

In other words, how to simulate a BuyAtLimit order that is Good Till Canceled (GTC) ?

Eugene

7/9/2019 3:35 PM

As I understand it, if the cntMultiCondition1 has been triggered you'd want to issue an entry order valid for the next 10 bars? If it's true then here's a tutorial explaining how to code it: Setups, Triggers, Delays, and Timeouts. Feel free to ask if any assistance is required in getting it done in WealthScript.

novemberindiakilo

7/9/2019 6:38 PM

Yes, that is exactly what I am looking for. The link was helpful and I tweaked my code as follows to include a timeout. But I am not still not sure whether this code is correct since the resultant trades seem to differ from my objective. Thanks again!

CODE:
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Eugene

7/9/2019 7:01 PM

You're making good progress. At first glance I spotted an issue and it is the placement of the boolean variable declaration inside the main (trading) loop:

CODE:
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This way it gets reset on every bar which is the opposite of what you intend to do. So if you move this outside of the loop you should see a difference: