Hey guys, Just took the MC trail version. Trying to test the software and codeing some super basic statergies to see how the software works and if it's right for me. I have been kinda stuck with one thing is. How do we code a buy when the price crosses a "level". Most of the codes online I see as reference code buy as If close > "level" then buy at the open of next bar ; Or they use some sort of variations of the above stated code. But how do I buy immediately on the next tick if price crosses the level? Regards, Fudge
If you're buying/selling at/after a close... of the day or of a bar... you're already late. There is no such thing as "confirmation", so why wait for a "close"? (Fudge... hmmmm.... is that like a sweet chocolate treat or "fudging your huggies"?)
I'm not sure i understand extactly what required but seems you don't want to wait for a bar to close. I'm not good at easy language, but let's say your trigger time-frame is 5 minutes where price cross a price level or condition, you can use multidata time-frames on single chart, and you entry price can be on 1 minute bar close.
hey , yes your right . but most of the codes i find online are written the way i have stated it .which i assume , they are waiting for the candle/bar which breaks the level to close and they buy probably at next bar open ? but , what i am looking at lets say the high of past 20candles is 100 , and when there is a cnalde which breaks that level , i dont want to wait for the breakout candle to close . but rather enter immedeatly as the breakout happens . ps: chocolate fudge is my Fav .. just love 'em . hence , fudgester
Yes, you should enter immediately on the breakout... but "which" breakout? You should forget about the "high of the past 20 candles". If you're looking at that, you're already waaaay late.
hey there , yes you are right . i did try this out , but on extreme volatalit days or news days . even 1min candle can have a significant range , which might make the difference of my entry price and level price quite a bit .
yes thats what I am trying to figure out . how do i code the buy exactly when the breakout happens and not wait for the close . well , breakout needs to happen somewhere right ? what do you suggest ? to ignore the 20past candles ? if so , then what levels would we even consider ?
I don't know about "coding". There are various levels of breakouts which you can determine "on the fly"... but there are enough of them I can't see being able to code them. The notion of "trading the high/low of the last 20 candles breakout" seems like it would be doable, but that's way late. To trade well, you have to be trading things "as they develop"... coding to "last 20 candles" is not only very late, but also arbitrary.
what your saying actually does make sense . but how would u define ur levels as they develope ? wouldnt u just end up overtrading ? i.e in a day of 6hrs(aprox) markets . there are 6 1hr bars , 12 30mins , etc....
Shouldn't worry about "over trading"... if you trade well, there is no such thing. (In fact... if you trade well, the more you trade the better!) But if you trade poorly, the less you trade the better (lose your money slower)... know what I mean? In general, you should be trading "around support and resistance with a tight stop". (1) You have to define what that means, and (2) S&R develop "where they will", not some predetermined "20 candle thingy"... don't know how you code for that.