strategy entering multiple trades

[mgin]

This is supposed to be a "simple" macd crossover with a trailing stop. I can't figure out why it's entering more than one trade at a time. I've used the same code in other strategies a long time ago without any problems but having problems now.


var vMACD4_13 = new MACDStudy(4, 13, 1, "Close", false);
var vMACD28_91 = new MACDStudy(28, 91, 7, "Close", false);
var vLastAlert = -1;
var vtime;
var nStopPrice;
var nLastRawTime = 0;
var BLBarOffset = 0;


function preMain() {

setColorPriceBars(true);
setPriceStudy(true);
setStudyTitle("MACD XOVER-BT2b8");

}

function main() {
vtime = (getHour()*100)+ getMinute();

if (getValue("rawtime", 0) != nLastRawTime) { // Bar Counter function.
nLastRawTime = getValue("rawtime",0);
BLBarOffset += 1;
}

if (Strategy.isInTrade()) { // Draw Current Stop Level on Chart.
drawShapeRelative(4, nStopPrice, Shape.DIAMOND, null, Color.green, Shape.ONTOP, BLBarOffset+"lFSX");
}

if (vMACD4_13.getValue(MACDStudy.MACD) > 0) //Color bars.
setPriceBarColor(Color.RGB(0,0,255));
else if (vMACD4_13.getValue(MACDStudy.MACD) < 0)
setPriceBarColor(Color.RGB(255,0,0));

if ((Strategy.isLong() == true) && (vtime >= 1600)) { //EOD Long Exit
Strategy.doSell("EOD Exit", Strategy.CLOSE, Strategy.THISBAR, Strategy.DEFAULT);
drawShapeRelative(0, high()+1, Shape.SQUARE, "", Color.RGB(0,0,255), Shape.LEFT);

}

if ((Strategy.isShort() == true) && (vtime >= 1600)) { //EOD Short Exit
Strategy.doCover("EOD Exit", Strategy.CLOSE, Strategy.THISBAR, Strategy.DEFAULT);
drawShapeRelative(0, low()-1, Shape.SQUARE, "", Color.RGB(255,0,0), Shape.LEFT);
}

if ((Strategy.isLong() == true) && (low() <= nStopPrice)) { //Exit long if stop hit.
Strategy.doSell("LongStop", Strategy.CLOSE, Strategy.THISBAR, Strategy.DEFAULT);
drawTextRelative(0, high()+.75, "StopXt", Color.RGB(0,0,0), Color.RGB(255,255,255), Text.ONTOP, "Arial", 8, BLBarOffset+"tag");

}

if ((Strategy.isShort() == true) && (high() >= nStopPrice)) { //Exit short if stop hit.
Strategy.doCover("ShortStop", Strategy.CLOSE, Strategy.THISBAR, Strategy.DEFAULT);
drawTextRelative(0, low()-.75, "StopXt", Color.RGB(0,0,0), Color.RGB(255,255,255), Text.ONTOP, "Arial", 8, BLBarOffset+"tag");

}

if (Strategy.isLong() == true) { // Adjust trailing stop....
if (vMACD4_13.getValue(MACDStudy.MACD) > 0 &&
vMACD4_13.getValue(MACDStudy.MACD, -1) < 0)
nStopPrice = (lowest(7, low())-.25);
}

if (Strategy.isShort() == true) { // Adjust trailing stop....
if (vMACD4_13.getValue(MACDStudy.MACD) < 0 &&
vMACD4_13.getValue(MACDStudy.MACD, -1) > 0)
nStopPrice = (highest(7, high())+.25);
}


if (!Strategy.isLong()) { // Go long if not in already...
if (vMACD4_13.getValue(MACDStudy.MACD) > 0 &&
vMACD4_13.getValue(MACDStudy.MACD, -1) < 0 &&
vMACD28_91.getValue(MACDStudy.MACD) > 0 &&
vtime > 930 &&
vtime < 1600 ) {
Strategy.doLong("Trend Long", Strategy.CLOSE, Strategy.THISBAR);
drawShapeRelative(0, low()-1, Shape.UPARROW, "", Color.RGB(0,0,255), Shape.LEFT);
nStopPrice = (lowest(7, low())-.25);

}
}

return;

}

[eSignal_JasonK]

Hello mgin,

There is a logic problem being created with the "LongStop" condition. Modify this code block to use a LIMIT exit like below, which is the proper way to handle this type of stop logic. This will resolve the issue. Also make note of the check for the open of the bar triggering the stop. This should also be done to ensure a realistic price for nStopPrice. Make the same change to your "ShortStop" condition as well.

// long stop
    if ((Strategy.isLong() == true) && (low(0) <= nStopPrice)) { //Exit long if stop hit.
        if (open(0) < nStopPrice) nStopPrice = open(0);
        Strategy.doSell("LongStop", Strategy.LIMIT, Strategy.THISBAR, nStopPrice); 
        drawTextRelative(0, high()+.75, "StopXt", Color.RGB(0,0,0), Color.RGB(255,255,255), Text.ONTOP, "Arial", 8, BLBarOffset+"tag");        
    } 

[mgin]

Thanks for the response Jason. I'll try what you suggested.