Get yesterday price and if lower 80 cents (not %) trigger an alert to buy
Author: gchudublin
Creation Date: 11/18/2016 10:13 PM
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gchudublin

#1
I called Fidelity, and they said cannot do it with rules. I cannot use % to check the price, I need use a fix #, ex if lower 80 cents from yesterday's close price, or today's opening price, ...etc Ex. I found that APPL daily drops price around 10:30-12 PM and then goes up (not every day, but most of the day). I need to catch the low and trigger a buy, also trigger a stop, if continues to go low if not going low, then trailing stop.(trigger means send out an email).

% of price would not work for APPL.

Thanks'

Greg
'
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Eugene

#2
I tend to agree with Fidelity: it's not effortless to do it in rules. For EOD trading you'd need a new rule "Price is higher (lower) by $ than it was a number of bars ago". In your case of multiple bar scales, however, it won't help much.

In previous support ticket conversation you said you're a .NET programmer so WealthScript code below should be rather easy to comprehend:

CODE:
Please log in to see this code.


Notes:

1. Re-entries are disabled for the day once exited with a trailing stop. They are expected to fall miserably if the price continues to decline sharply (like on Nov 14, 2016) rather than to go up.
2. In real trading you should adjust the "todayClose" from 1600 to 1300 if today is a shortened session.
3. There's a 80 cents trailing stop exit and a market exit at the last bar of day.
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Eugene

#3
Added to Community.Rules:

* Price is higher (lower) by $ than it was a number of bars ago