Announcement

**eSignal_JasonK** · 01-11-2006, 09:38 AM

Hello AOV,

There are a few creative options you can implement through the wizard. For one, see Alex's parabolic SAR solution for a trailing stop in this thread.

For the most part, the formula wizard has limitations when it comes to designing this type of logic because it does not allow you to create custom variables to assign values to, such as the initial entry price. Because of this limitation, you might want to try creating your strategies through the EFS Editor. To help get you started, please read our Guide to Developing EFS Strategies.

**AOV** · 01-11-2006, 03:42 PM

Thank you Jason,

I did try to figure out how to write a stop using the EFS Editor but I really dont have the smallest clue... Everything I try is incorrect.

My formula is working just fine and takes long and short entries using DMI indicator but I have no idea how to place a stop.

Example, if a DMI cross over triggers a long position, I would like to know how to place a specific point stop loss after it.

Thank you for having taken the time to respond to my questions...

Kind regards,

Andy

**eSignal_JasonK** · 01-12-2006, 08:23 AM

Hello Andy,

The guide I pointed you to will give you some examples on how to code stops and trailing stops. Please read the guide and try some of those methods. Or try to implement the parabolic sar solution I pointed you to. If you continue to have trouble, post your code so that I or other members may help provide additional guidance.

**AOV** · 01-13-2006, 09:22 AM

Dear Jason,

I once again thank you for your great support !
However, after hours of trying to get stop loss order in place as well as a profit target to my code I still cant get it to work... I used the files you sent me and still unable to get it to work.

I am posting my code below. All it has is entry functions based on DMI cross overs and RSI...

I am trying to add a stop loss order and also a take profit order based on point change from the entry price. In other words, IF long eMini S&P at 1300.00 then a 3 point stop at 1297.00 and 3 point profit target at 1303.00.

I would be most thankful if you could help me further with it.

Thanks again,

Andy

PHP Code:


//{{EFSWizard_Description

//

//    This formula was generated by the Alert Wizard

//

//}}EFSWizard_Description





//{{EFSWizard_Declarations

var vADXDM = new ADXDMStudy(7);

var vRSI9 = new RSIStudy(9, "Close");

var vLastAlert = -1;

//}}EFSWizard_Declarations





function preMain() {

//{{EFSWizard_Code_PreMain_setPriceBarColor

setColorPriceBars(true);

//}}EFSWizard_Code_PreMain_setPriceBarColor

   /**

    *  This function is called only once, before any of the bars are loaded.

    *  Place any study or EFS configuration commands here.

    */

//{{EFSWizard_PreMain

    setPriceStudy(true);

    setStudyTitle("");

//}}EFSWizard_PreMain



}



function main() {

   /**

    *  The main() function is called once per bar on all previous bars, once per

    *  each incoming completed bar, and if you don't have 'setComputeOnClose(true)'

    *  in your preMain(), it is also called on every tick.

    */



//{{EFSWizard_Expressions

    //{{EFSWizard_Expression_1

        if (

            vADXDM.getValue(ADXDMStudy.PDI) > vADXDM.getValue(ADXDMStudy.NDI) &&

            getHour() >= 11 &&

            getHour() <= 11 &&

            vRSI9.getValue(RSIStudy.RSI) < 60

        ) onAction1()

    //}}EFSWizard_Expression_1

    

    //{{EFSWizard_Expression_2

        else if (

            vADXDM.getValue(ADXDMStudy.PDI) < vADXDM.getValue(ADXDMStudy.NDI) &&

            getHour() >= 11 &&

            getHour() <= 11 &&

            vRSI9.getValue(RSIStudy.RSI) > 40

        ) onAction2()

    //}}EFSWizard_Expression_2

    

    //{{EFSWizard_Expression_3

        else if (

            getHour() == 16 &&

            Strategy.isInTrade() == Strategy.isLong()

        ) onAction3()

    //}}EFSWizard_Expression_3

    

    //{{EFSWizard_Expression_4

        else if (

            getHour() == 16 &&

            Strategy.isInTrade() == Strategy.isShort()

        ) onAction4();

    //}}EFSWizard_Expression_4

    

//}}EFSWizard_Expressions





//{{EFSWizard_Return

    return null;

//}}EFSWizard_Return



}



function postMain() {

   /**

    *  The postMain() function is called only once, when the EFS is no longer used for

    *  the current symbol (ie, symbol change, chart closing, or application shutdown).

    */

}



//{{EFSWizard_Actions

    //{{EFSWizard_Action_1

    function onAction1() {

        if (vLastAlert != 1) Strategy.doLong("", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        if (vLastAlert != 1) Alert.playSound("C:\\Program Files\\eSignal\\Sounds\\Blip.wav");

        if (vLastAlert != 1) setPriceBarColor(Color.RGB(0,128,0));

        vLastAlert = 1;

    }

    //}}EFSWizard_Action_1

    

    //{{EFSWizard_Action_2

    function onAction2() {

        if (vLastAlert != 2) Strategy.doShort("", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        if (vLastAlert != 2) Alert.playSound("C:\\Program Files\\eSignal\\Sounds\\Laser.wav");

        if (vLastAlert != 2) setPriceBarColor(Color.RGB(155,0,0));

        vLastAlert = 2;

    }

    //}}EFSWizard_Action_2

    

    //{{EFSWizard_Action_3

    function onAction3() {

        if (vLastAlert != 3) Strategy.doSell("", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        vLastAlert = 3;

    }

    //}}EFSWizard_Action_3

    

    //{{EFSWizard_Action_4

    function onAction4() {

        if (vLastAlert != 4) Strategy.doCover("", Strategy.MARKET, Strategy.THISBAR, Strategy.DEFAULT, 0);

        vLastAlert = 4;

    }

    //}}EFSWizard_Action_4

    

//}}EFSWizard_Actions

**eSignal_JasonK** · 01-13-2006, 03:26 PM

Hello Andy,

Its unfortunate that you did not post your code that shows what you attempted to do. It would be more beneficial for your learning experience if you did as I would be able to more easily point out the particulars of where you may be going wrong. At any rate, here are a few suggestions and some of the next steps to help get you going in the right direction.

1 - (Suggestion) Since all the indicators you're using share the same scale and are non-price studies, I would recommend setting your formula up as a non-price study and return the three indicators to the chart. In the formula wizard, change the Formula Configuration settings to something like the following.

Then add your indicators to their respective container in the Returned Data Points section as follows.

This helps you during the development process because you have some visual references as to what is happening in your strategy.

2. To use the parabolic study for the trailing stop, you will first need to add the study to your formula.

Then add two more conditional sets (Set 5 and Set 6) like below.

Save the changes and test it out. If you have any trouble, post your modified formula.

**AOV** · 01-14-2006, 09:35 PM

Jason, Once again I would like to thank you for lending a hand...
However, I wanted to let you know that I am still having problems with my formula and getting it to work.

Fortunately I was able to add trail stops using PAR - however, I am still trying to get it to execute stop loss and profit exits based on a specific number of points from the original position entry price.

I am enclosing my "little mess". I added what part of the examples which I thought would make it work but unfortunately for me it just doesnt do it.

I am sorry for coming back to you again with the same issue but at this point I really dont have any other choice...

If you find any errors or have any suggestions to what I have put together so far please let me know...

Thanking you in advance for you help and great support

Andy

______________________________________
The info that I added is basically as "var" and also just about the first have of the "function main" until it gets to wizard stuff - thanks !!
______________________________________

PHP Code:


//{{EFSWizard_Description

//

//    This formula was generated by the Alert Wizard

//

//}}EFSWizard_Description





//{{EFSWizard_Declarations

var vADXDM = new ADXDMStudy(7);

var vRSI9 = new RSIStudy(9, "Close");

var vParSAR = new ParabolicStudy(0.005, 0.005, 0.05);

var vLastAlert = -1;



var nNewTrade; // New Trade Trigger 0 = OFF / 1 = ON

var nsignal; // returns the direction of the trading signal

var nTradeEntryPrice; 

var ProfitTarget1 = 5.0;

var nStopLevel;

//}}EFSWizard_Declarations





function preMain() {

//{{EFSWizard_Code_PreMain_setPriceBarColor

setColorPriceBars(true);

//}}EFSWizard_Code_PreMain_setPriceBarColor

   /**

    *  This function is called only once, before any of the bars are loaded.

    *  Place any study or EFS configuration commands here.

    */

//{{EFSWizard_PreMain

    setPriceStudy(true);

    setStudyTitle("");

    

    var fp1 = new FunctionParameter("nProfitAmt", FunctionParameter.NUMBER); //ADDED

    fp1.setName("Profit Target Amount"); //ADDED

    fp1.setLowerLimit(0.01); //ADDED

    fp1.setDefault(3); //ADDED



    var fp2 = new FunctionParameter("nStopAmt", FunctionParameter.NUMBER); //ADDED

    fp2.setName("Stop Target Amount"); //ADDED

    fp2.setLowerLimit(0.01); //ADDED

    fp2.setDefault(1); //ADDED

    

//}}EFSWizard_PreMain



}



function main(nProfitAmt, nStopAmt) {

    ProfitTarget1 = nProfitAmt; //ADDED

    

    

/*----------------------------------------------------------------

// If new trade, get entry price - used for our profit target

----------------------------------------------------------

This portion of the code identifies if a new trade has been issued 

and records the entry price of our trade. If no new trade has been 

triggered (nNewTrade == 1), then this portion of the code is ignored.

----------------------------------------------------------*/



    var bPosition = false;  //ADDED

    if (Strategy.isInTrade() == true && (nNewTrade == 1)) {

        // This sets the expected entry price of the current short trade

        nTradeEntryPrice = open();

        // This switches off the nNewTrade variable

        nNewTrade = 0; // Turn off NEW TRADE switch

        bPosition = true; // ADDED

    }



    var nDisplayStop = null; //ADDED

    if (Strategy.isInTrade() == true) {  //ADDED

        nDisplayStop = nStopLevel;  //ADDED

        //var bPosition = true;

        if (Strategy.isLong() == true) setPriceBarColor(Color.green);  //ADDED

        if (Strategy.isShort() == true) setPriceBarColor(Color.red);  //ADDED

    } else {  //ADDED

        nStopLevel = null;  //ADDED

    }  //ADDED



    /*----------------------------------------------------------------

    // Test for Profit Target Breach (ProfitTarget1)

    ----------------------------------------------------------

    This portion of the code identifies if our profit target has 

    been reached and exits our trades.

    ----------------------------------------------------------*/



    if (Strategy.isInTrade() == true && (Strategy.isShort() == true)) {

        // Check if the profit target has been reached/breached

        if (low() <= (nTradeEntryPrice - ProfitTarget1)) {

            // Profit Target Breached, Execute Cover order.

            Strategy.doCover("Short PT1 Exit", Strategy.STOP, Strategy.THISBAR, 

                Strategy.getDefaultLotSize(), Math.min(open(0), (nTradeEntryPrice - ProfitTarget1)));

        }

    }



    if (Strategy.isInTrade() == true && (Strategy.isLong() == true)) {

        // Check if the profit target has been reached/breached

        if (high() >= (nTradeEntryPrice + ProfitTarget1)) {

            // Profit Target Breached, Execute Sell order.

            Strategy.doSell("Long PT1 Exit", Strategy.STOP, Strategy.THISBAR, 

                Strategy.getDefaultLotSize(), Math.max(open(0), (nTradeEntryPrice + ProfitTarget1)));

        }

    }





    /*----------------------------------------------------------

    This portion of the code tests for a stop level breach and 

    executes trades accordingly.

    ----------------------------------------------------------*/

    if (Strategy.isInTrade() == true && (Strategy.isShort() == true)) {

        // Check if the profit target has been reached/breached

        if (high() >= nStopLevel) {

            // Stop Breached, Execute Cover order.

            Strategy.doCover("Short Stop Exit", Strategy.STOP, Strategy.THISBAR, 

                Strategy.getDefaultLotSize(), nStopLevel);

        }

    }



    if (Strategy.isInTrade() == true && (Strategy.isLong() == true)) {

        // Check if the profit target has been reached/breached

        if (low() <= nStopLevel) {

            // Stop Breached, Execute Sell order.

            Strategy.doSell("Long Stop Exit", Strategy.STOP, Strategy.THISBAR, 

                Strategy.getDefaultLotSize(),nStopLevel);

        }

    }





    



    /*----------------------------------------------------------------

    // Execute Trades ONLY if nNewTrade is triggered ....

    ----------------------------------------------------------------- */



    if (nNewTrade == 1) { //Execute New Trade

        // new or reversed trade position

        if (Strategy.isInTrade() == true) {

            if ((nsignal > 0) && (Strategy.isShort() == true)) {

                Strategy.doLong("Rev Long", Strategy.MARKET, Strategy.NEXTBAR);

                nStopLevel = low(0) - nStopAmt;

            }

            if ((nsignal < 0) && (Strategy.isLong() == true)) {

                Strategy.doShort("Rev Short", Strategy.MARKET, Strategy.NEXTBAR);

                nStopLevel = high(0) + nStopAmt;

            }

        } else {

            if ((nsignal > 0)) {

                Strategy.doLong("Go Long", Strategy.MARKET, Strategy.NEXTBAR);

                nStopLevel = low(0) - nStopAmt;

            }

            if ((nsignal < 0)) {

                Strategy.doShort("Go Short", Strategy.MARKET, Strategy.NEXTBAR);

                nStopLevel = high(0) + nStopAmt;

            }

        } // end if IN TRADE

    } // END EXECUTE NEW TRADE

    

    var nDisplayProfit = null;  //ADDED

    if (Strategy.isLong() == true && nNewTrade == 0) nDisplayProfit = (nTradeEntryPrice + ProfitTarget1);  //ADDED

    if (Strategy.isShort() == true && nNewTrade == 0) nDisplayProfit = (nTradeEntryPrice - ProfitTarget1);  //ADDED

    

    

}



function main() {

   /**

    *  The main() function is called once per bar on all previous bars, once per

    *  each incoming completed bar, and if you don't have 'setComputeOnClose(true)'

    *  in your preMain(), it is also called on every tick.

    */



//{{EFSWizard_Expressions

    //{{EFSWizard_Expression_1

        if (

            vADXDM.getValue(ADXDMStudy.PDI) > vADXDM.getValue(ADXDMStudy.NDI) &&

            getHour() >= 11 &&

            getHour() <= 11 &&

            vRSI9.getValue(RSIStudy.RSI) < 60 &&

            getMinute() >= 20

        ) onAction1()

    //}}EFSWizard_Expression_1

    

    //{{EFSWizard_Expression_2

        else if (

            vADXDM.getValue(ADXDMStudy.PDI) < vADXDM.getValue(ADXDMStudy.NDI) &&

            getHour() >= 11 &&

            getHour() <= 11 &&

            vRSI9.getValue(RSIStudy.RSI) > 40 &&

            getMinute() >= 20

        ) onAction2()

    //}}EFSWizard_Expression_2

    

    //{{EFSWizard_Expression_3

        else if (

            getHour() == 16 &&

            Strategy.isInTrade() == Strategy.isLong()

        ) onAction3()

    //}}EFSWizard_Expression_3

    

    //{{EFSWizard_Expression_4

        else if (

            getHour() == 16 &&

            Strategy.isInTrade() == Strategy.isShort()

        ) onAction4()

    //}}EFSWizard_Expression_4

    

    //{{EFSWizard_Expression_5

        else if (

            vRSI9.getValue(RSIStudy.RSI) < 15 &&

            Strategy.isInTrade() == Strategy.isShort() &&

            getHour() >= 12

        ) onAction5()

    //}}EFSWizard_Expression_5

    

    //{{EFSWizard_Expression_6

        else if (

            vRSI9.getValue(RSIStudy.RSI) > 85 &&

            Strategy.isInTrade() == Strategy.isLong() &&

            getHour() >= 12

        ) onAction6()

    //}}EFSWizard_Expression_6

    

    //{{EFSWizard_Expression_7

        else if (

            Strategy.isInTrade() == Strategy.isLong() &&

            vParSAR.getValue(ParabolicStudy.STOP) > close(0) &&

            getHour() >= 15 &&

            vADXDM.getValue(ADXDMStudy.PDI) < vADXDM.getValue(ADXDMStudy.NDI)

        ) onAction7()

    //}}EFSWizard_Expression_7

    

    //{{EFSWizard_Expression_8

        else if (

            Strategy.isInTrade() == Strategy.isShort() &&

            vParSAR.getValue(ParabolicStudy.STOP) < close() &&

            getHour() >= 15 &&

            vADXDM.getValue(ADXDMStudy.PDI) > vADXDM.getValue(ADXDMStudy.NDI)

        ) onAction8();

    //}}EFSWizard_Expression_8

    

//}}EFSWizard_Expressions





//{{EFSWizard_Return

    return null;

//}}EFSWizard_Return



}



function postMain() {

   /**

    *  The postMain() function is called only once, when the EFS is no longer used for

    *  the current symbol (ie, symbol change, chart closing, or application shutdown).

    */

}



//{{EFSWizard_Actions

    //{{EFSWizard_Action_1

    function onAction1() {

        if (vLastAlert != 1) Strategy.doLong("Open Long", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        if (vLastAlert != 1) setPriceBarColor(Color.RGB(0,128,0));

        vLastAlert = 1;

    }

    //}}EFSWizard_Action_1

    

    //{{EFSWizard_Action_2

    function onAction2() {

        if (vLastAlert != 2) Strategy.doShort("Open Short", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        if (vLastAlert != 2) setPriceBarColor(Color.RGB(155,0,0));

        vLastAlert = 2;

    }

    //}}EFSWizard_Action_2

    

    //{{EFSWizard_Action_3

    function onAction3() {

        if (vLastAlert != 3) Strategy.doSell("Close X Long", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        vLastAlert = 3;

    }

    //}}EFSWizard_Action_3

    

    //{{EFSWizard_Action_4

    function onAction4() {

        if (vLastAlert != 4) Strategy.doCover("Close X Short", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        vLastAlert = 4;

    }

    //}}EFSWizard_Action_4

    

    //{{EFSWizard_Action_5

    function onAction5() {

        if (vLastAlert != 5) Strategy.doCover("RSI X Short", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        if (vLastAlert != 5) setBarBgColor(Color.RGB(0,0,255));

        vLastAlert = 5;

    }

    //}}EFSWizard_Action_5

    

    //{{EFSWizard_Action_6

    function onAction6() {

        if (vLastAlert != 6) Strategy.doSell("RSI X Long", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        if (vLastAlert != 6) setBarBgColor(Color.RGB(255,0,0));

        vLastAlert = 6;

    }

    //}}EFSWizard_Action_6

    

    //{{EFSWizard_Action_7

    function onAction7() {

        if (vLastAlert != 7) Strategy.doSell("PAR X Long", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        vLastAlert = 7;

    }

    //}}EFSWizard_Action_7

    

    //{{EFSWizard_Action_8

    function onAction8() {

        if (vLastAlert != 8) Strategy.doCover("PAR X Short", Strategy.MARKET, Strategy.NEXTBAR, Strategy.DEFAULT, 0);

        vLastAlert = 8;

    }

    //}}EFSWizard_Action_8

    

//}}EFSWizard_Actions

**eSignal_JasonK** · 01-17-2006, 02:14 PM

Hello Andy,

The current problem with your code is that you have two main() functions. You can only have one. The new main() that you have pasted into your study contains the logic for the stops from the sample code, but that's it. You need to incorporate the entry conditions from your original main() into the new main() or vise versa. Then get rid of the other main() function.

If you move your wizard conditions into the new main(), copy the code example for the entry conditions from the sample formula back in and replace the conditions (i.e. "vMA1_1 < vMA2_1 && vMA1 > vMA2" ) with the entry conditions from your wizard code.

... from Sample_TargetStop.efs

PHP Code:


    /*----------------------------------------------------------------

    // Identify new trade signals

    ----------------------------------------------------------------- */



    //ADDED - bPostion logic to the following line to prevent new entry

    //        on the same bar that an exit trade occured.

    if (bPosition == false) {

        //if (/*Buy Condition*/)) {

        if (vMA1_1 < vMA2_1 && vMA1 > vMA2) {  //ADDED

            nNewTrade = 1; // New Trade Trigger

            nsignal = 1; // Buy Signal - Trade Type

        }

        //if (/*Sell Condition*/) {

        if (vMA1_1 > vMA2_1 && vMA1 < vMA2) {  //ADDED

            nNewTrade = 1; // New Trade Trigger

            nsignal = -1; // Sell Signal - Trade Type

        }

    }

Keep in mind, the sample code entry logic is also considering reversal entries. You may not want that. If that is the case, just use the else portion of the "New Trade" code block as a separate if statement instead of an else and get rid of the initial if statement that the else was attached to. Something like below.

PHP Code:


    /*----------------------------------------------------------------

    // Execute Trades ONLY if nNewTrade is triggered ....

    ----------------------------------------------------------------- */



    if (nNewTrade == 1) { //Execute New Trade

        // new or reversed trade position

        //if (Strategy.isInTrade() == true) {

            //if ((nsignal > 0) && (Strategy.isShort() == true)) {

                //Strategy.doLong("Rev Long", Strategy.MARKET, Strategy.NEXTBAR);

                //nStopLevel = low(0) - nStopAmt;

            //}

            //if ((nsignal < 0) && (Strategy.isLong() == true)) {

                //Strategy.doShort("Rev Short", Strategy.MARKET, Strategy.NEXTBAR);

                //nStopLevel = high(0) + nStopAmt;

            //}

        //} else {

            if ((nsignal > 0)) {

                Strategy.doLong("Go Long", Strategy.MARKET, Strategy.NEXTBAR);

                nStopLevel = low(0) - nStopAmt;

            }

            if ((nsignal < 0)) {

                Strategy.doShort("Go Short", Strategy.MARKET, Strategy.NEXTBAR);

                nStopLevel = high(0) + nStopAmt;

            }

        //} // end if IN TRADE

    } // END EXECUTE NEW TRADE

I think this would be the easier route to go. Make these changes and see how it turns out. If you need more help, just post your new code.

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