Can-Blocks-buy-on-open-and-sell-on-close-on-same-day-with-stop-loss

2023-04-26T16:57:28Z - 2023-04-26T16:57:28Z ago

Can Blocks buy on open and sell on close on same day with stop loss?

Here is some code from a closed thread I found on Wealthlab. Can we create a building block or do we have to create code.

Looking to buy on Monday open and Sell on same day (5 minutes before close) with a stop loss.

Here is the older code. Line 15, 16 for PlotTimeSeries is not working.

Thank you,

Larry

CODE:
using WealthLab.Backtest;
using WealthLab.Core;
using WealthLab.Indicators;
using System.Drawing;

namespace WealthScript1
{
   public class MyStrategy : UserStrategyBase
   {
      public override void Initialize(BarHistory bars)
      {
         indicator = bars.Low;
         source = new Lowest(((bars.Low >> 1) * 0.988), 2);
         stop = source * (1.0 - (4.00 / 100.0));
         PlotTimeSeries(source, "Lowest", "Price", Color.Blue);
         PlotTimeSeries(stop, "Lowest Stop", "Price", Color.Red);
         //StartIndex = 8;
      }

      public override void Execute(BarHistory bars, int idx)
      {
         PlaceTrade(bars, TransactionType.Buy, OrderType.Market, source[idx]);
         PlaceTrade(bars, TransactionType.Sell, OrderType.MarketClose);
      }

      //private members
      private TimeSeries indicator, source, stop;
   }
}

207

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3 Replies

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Cone8

( 24.99% )

2023-04-26T17:12:07Z - 2023-04-26T17:12:07Z ago

No, it's not possible.

You can add your vote to the same-bar exit feature request and add a note about the MarketClose order. https://www.wealth-lab.com/Discussion/Same-Bar-Profit-Stops-for-Building-Blocks-9326

Best Answer

lmseldin8

2023-04-26T19:46:34Z - 2023-04-26T19:46:34Z ago

I got the buy on open and sell on same day close working fine. However, I am getting an error on line 33 for my stop loss. Can you please take a look?

33: The name "EntryPrice" does not exist in the current context.

Thank you,
Larry

CODE:
using WealthLab.Backtest;
using WealthLab.Core;
using WealthLab.Indicators;
using System.Drawing;

namespace WealthScript3 
{
   public class MyStrategy : UserStrategyBase
   {
      public MyStrategy() : base()
      {
         AddParameter("Stop Loss", ParameterType.Double, 10, 2, 10, 2);
         StartIndex = 290;
      }
      
      
      
      public override void Initialize(BarHistory bars)
      {
         indicator = bars.Low;
         source = new Lowest(((bars.Low >> 1) * 0.988), 2);
         stop = source * (1.0 - (4.00 / 100.0));
      }

      public override void Execute(BarHistory bars, int idx)
      {      
         PlaceTrade(bars, TransactionType.Buy, OrderType.Market);

         Backtester.CancelationCode = 220;
         value = 1.0 - (Parameters[0].AsDouble / 100.0);

         
         if(PlaceTrade(bars, TransactionType.Sell, OrderType.Stop, EntryPrice * value) == null)
            PlaceTrade(bars, TransactionType.Sell, OrderType.MarketClose);

      }

      //private members
      private double value;
   }
}

Cone8

( 24.99% )

2023-04-27T05:02:04Z - 2023-04-27T05:02:04Z ago

1. You have to declare all variables.
2. PlaceTrade will never return a null Transaction
3. That isn't the way to implement same-bar stops (or profits). See Transaction > AutoStopLossPrice
4. This type of same-bar trade interaction - a same-bar stop and/or sell at the close of the entry bar - is not currently supported by the Backtester.

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