Wait condition for entry - Wealth Lab Forum

Wait condition for entry

Author: mgreco19

Creation Date: 7/28/2017 8:07 PM

Wealth Lab » WealthScript (.NET) » Wait condition for entry

mgreco19

7/28/2017 8:07 PM

Is it possible to have a condition that says after a new 52 week high is reached to wait for a pullback to the 20 SMA and then enter the position?

Eugene

7/28/2017 8:37 PM

Although Rule-based Strategies aren't prepared for exactly this scenario, in code it's of course possible:

ActiveTrader 2012-03 | Big Move, Pullback and Continutation system

Further reading:

Tutorial: Setups, Triggers, Delays, and Timeout

Anything is possible! The question is, "how do you code it". Since the requirements are vague, I'll assume you're only interested in the first pullback to the 20 SMA. So, once the SMA 20 is breached after a 52-week high, we'll ignore the condition until a new 52-week high occurs.

CODE:
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Anything is possible!  The question is, "how do you code it".  Since the requirements are vague, I'll assume you're only interested in the [i]first pullback[/i] to the 20 SMA.  So, once the SMA 20 is breached after a 52-week high, we'll ignore the condition until a new 52-week high occurs.

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

namespace WealthLab.Strategies
{
	public class MyStrategy : WealthScript
	{
		protected override void Execute()
		{
			// this variable will store the bar of the last 52-week high.
			// -1 will indicate that the 52-week high is invalid
			int last52highBar = -1;
			
			DataSeries sma = SMA.Series(Close, 20);
			PlotSeries(PricePane, sma, Color.Blue, LineStyle.Solid, 2);
			
			// 52-week is approximately 251 daily bars, so start there
			for(int bar = 251; bar < Bars.Count; bar++)
			{
				if (IsLastPositionActive)
				{
					// We're in a position, so reset the 52-week high bar to invalid
					last52highBar = -1;
					
					// Exit logic: 5- day time-based exit for demo purposes
					Position p = LastPosition;
					if (bar + 1 - p.EntryBar >= 5)
						ExitAtMarket(bar + 1, p, "Time-based");					
				}
				else
				{
					if (High[bar] > Highest.Series(High, 251)[bar-1])
					{
						// New 52-week high detected.  Paint the chart blue
						SetBackgroundColor(bar, Color.FromArgb(30, Color.Blue));
						last52highBar = bar;
					}
					
					if (last52highBar == -1) 
						continue;
					
					// if the next statement executes, it means we have a new 52-week high to work with since exiting the last position
					BuyAtLimit(bar + 1, sma[bar]);
					
				}
			}
		}
	}
}[/code]

Wealth Lab » WealthScript (.NET) » Wait condition for entry