Hi, I am new to TradeStateion so please forgive me if I am barking up the wrong tree. The code described at http://www.elitetrader.com/tr/index.cfm?s=17&t=74&p=5 (I must compliment Charlie on this e-book as it's fantastic for us newbees) seem a bit strange. In the long strategy why does the code after the "or" exist? Isn't this the same criteria as for the short trade? Similarly the code after the "or" in the short trade seems to be the same code as for opening a long position. I have surrounded the code I am questioning in "quotes" below. Would appreciate your comments. IF Open of next bar > High of this bar or "Open of next bar < Low of this bar" then Buy next bar at Close of this bar + Range of this bar Stop; IF Open of next bar < Low of this bar or "Open of next bar > High of this bar" then Sell next bar at Close of this bar - Range of this bar Stop;
Yes, they are the same, but you are forgeting here that, (then "action") part of these stractures are another type of conditions on their own that have to be met before orders can be triggered. That' means two conditions have to be true for either buy or sell to take place. May be this example can clearifies more things to you: Buy next bar at Close of this bar + Range of this bar Stop; Sell next bar at Close of this bar - Range of this bar Stop; They are also type of conditional orders without "if..." part As you can see stop condition for buy and sell are not the same.
No, The code is is referencing today and tomorrow's data, and sending orders tommorrow on conditional stops.