Coding candlestick strategies: How to Buy at the close of the signal candle, and Sell at the close of the next candle (whatever the price movement)?

[joetimismith]

I made a simple candlestick study, where there are two bullish candles, the only condition being the second candle has a higher close than the first.

def IsUp = close > open;
plot PatternPlot =
IsUp[1] and
IsUp[0] and
close[1] < close[0];

How do I make this into a strategy where it buys at the close of the signal (second) candle and sells at the close of whatever candle comes after it? Thanks!

 

[_Merch_Man_]

Assuming you want to record the purchase price at the close price of the second candle then:

def IsUp = close > open;
def PatternPlot = IsUp[1] and IsUp[0] and close[1] < close[0];
AddOrder( OrderType.BUY_TO_OPEN, PatternPlot, price =close[1] , name = "BUY_TO_OPEN");

 

[joetimismith]

Assuming you want to record the purchase price at the close price of the second candle then:

def IsUp = close > open;
def PatternPlot = IsUp[1] and IsUp[0] and close[1] < close[0];
AddOrder( OrderType.BUY_TO_OPEN, PatternPlot, price =close[1] , name = "BUY_TO_OPEN");

This code helps but doesn't include selling at the close of the next candle (the third candle, immediately after the buy signal). Can you help please? Thanks!

 

[_Merch_Man_]

This code helps but doesn't include selling at the close of the next candle (the third candle, immediately after the buy signal). Can you help please? Thanks!

You have everything you need in that first example to add the close order. Want to give it a try?

 

[aida]

how to you execute this script? Does it automatically places the trades, if so pls suggest how to setup

 

[MerryDay]

@aida. Auto trading is not supported on the TOS platform. All Strategies including this one is for backtesting purposes only.