Capturing realtime price action

[waynecd]

Hi,

I am testing a realtime trading signals efs.
I am having trouble testing targets and stops.

For example, if a long is triggered, a formula that checks for the first target could be:

if(close(0) > vEntry + 0.5 ) FirstTarget = true;

It is important for the formula to immediately trigger the “FirstTarget = true;” as soon as the target price is hit.

Question: Does close(0) capture the price action if it crosses in real time or should I use something else like the following functions:

getMostRecentAsk() 
getMostRecentAskSize() 
getMostRecentBid() 
getMostRecentBidSize() 
getMostRecentTrade()
high(0)
low(0)
close(0) 

Thanks

wayne

[Doji3333]

Wayne,

Yes, close(0) should accomplish what you want (but remember that this is relative to the esignal datafeed). I've got systems running that operate on a number of different symbols and I can tell you there are some times on the esignal chart when it TICKS above my target or below my stop when the broker price is slightly different. I assume the way to handle this is to develop code to use the broker price instead of the esignal price - but given my goals, that's not going to happen right now.

There are also ways to control the esignal data source so that you can select specific exchanges/brokers (I know this is available for Forex). Alex or someone from esignal can probably post a knowledgebase page to assist.

Another way to accomplish this is to fire your target order into the broker, then check to see if that order gets filled.

When I develop an efs script, I like to use market orders (at first) because they are simple to deploy and can give me a feel for how the system operates.

B

[waynecd]

Thanks Brad,

Very helpful.

wayne