price entry exit

[shogun]

does anybody know if it is possible to run a formulas efs on price only, so that the buy/sell signals would be generated if price hit a certain figure.

example: using dow jones

if price hits 9500 (+10) go long/ if it hits 9500 (-10) stoped out & if it hit 9600 (-30) close long

the (+10) (-10) & (-30) would be changeable parameters

and the same for 9600/9700/9800/9900/10000/ and so on,


if you know what i mean,

[ACM]

shogun
Yes it is possible to set the condition for buy/sell to be a defined price (ie like in the examples you mention)
Alex

[shogun]

thanks alix,

do you or anybody else know if there are any examples in the efs bulletin boards of how the javascript formulas might look, i have been looking but seem to have drawn a blank,

would i define price as close()

and how would i define the entry/exit numbers, 9500 (+10)


all help is much appreaciated

[ACM]

shogun
Enclosed is a very basic example of how it could be done. The entry price is defined in Edit Studies together with the profit and stop levels.
In the chart below you see the results. The green background highlights the bars in which the strategy is long, the red background when the strategy is stopped out and the blue when it sells for profit.
Again this is only an example
Alex

function preMain(){
setPriceStudy(true);

    var fp1 = new FunctionParameter("Price", FunctionParameter.NUMBER);
    fp1.setDefault(10500.00); 
    
    var fp2 = new FunctionParameter("Margin", FunctionParameter.NUMBER);
    fp2.setDefault(5.00); 
    
    var fp3 = new FunctionParameter("Profit", FunctionParameter.NUMBER);
    fp3.setDefault(10.00); 
    
    var fp4 = new FunctionParameter("Stop", FunctionParameter.NUMBER);
    fp4.setDefault(10.00); 

}

function main(Price,Margin,Profit,Stop){

    if(Strategy.isLong()==false&&formatPriceNumber(close())>=Price+Margin){
        Strategy.doLong("Long",Strategy.LIMIT,Strategy.THISBAR,null,Price+Margin);
    }
    if(Strategy.isLong()==true&&formatPriceNumber(close())<=Price-Stop){
        Strategy.doSell("Stop",Strategy.STOP,Strategy.THISBAR,null,Price-Stop);
        setBarBgColor(Color.red);        
    }
    if(Strategy.isLong()==true&&formatPriceNumber(close())>=Price+Profit){
        Strategy.doSell("Profit",Strategy.STOP,Strategy.THISBAR,null,Price+Profit);
        setBarBgColor(Color.blue);
    }
    if(Strategy.isLong()==true){
       setBarBgColor(Color.lime)
    }

return;
} 

[shogun]

alex many thanks

i am quite new to efs formulas and using javascript (and it is not easy ) i have found many examples using ma/macd/rsi etc but no examples which use just price movement as a entry/exit,
so your example is a big help for me,

[ACM]

shogun
You may also want to search through Brad Matheny's messages (user name Doji3333) as he has posted various examples of entries on Limit or Stop prices
Hope this helps
Alex

[shogun]

ok will do

thanks,