Order Reversal

2 replies

EAWIZARD

Subscriber, bbp_participant, community, 32 replies.

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10 years ago #113538

Hello, I need assistance with creating an addition to my strategy, that will allow me to reverse my position (ex: long trade reversal to short and vice-versa). To better illustrate, I’ll provide an example;

 

Lets say you place a long trade 

Market moves in the opposite direction of the order, and stops-loss occurs
I then need  to place a short trade
 
I am unsure as how to start off, I’ve tried looking for an entry option on EA Wizard that will allow me to enter at a stop-loss, but have not found anything. Please direct me as how to enter at a stop-loss. 
 

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Mark Fric

Administrator, sq-ultimate, 2 replies.

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10 years ago #129609

there is no event that would trigger in the EA when SL occurs. If you want to open anorder when SL occurs the only way to do it is by creating a rule that will check if the order just finished:

 

IF

MarketPosition = Flat

and 

Order Closed This Bar(…) is True

THEN

… open opposite order

Mark
StrategyQuant architect

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EAWIZARD

Subscriber, bbp_participant, community, 32 replies.

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10 years ago #129649

“IF

MarketPosition = Flat

and 

Order Closed This Bar(…) is True

THEN

… open opposite order”

 

Will this work with Renko bars, assuming the bar size is 10 pips, I go long, the position reverses and my stop-loss activates, will the EA then place a trade in the opposite position? Does “Order Closed This Bar(…) is True” mean the reversal trade will activate on the same bar that I went long on, or will it place a short trade on the next Renko bar?

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