Help coding my sell signal based on ATR

[cornbread]

I am trying to code a profit target sell at 3x ATR above the buy signal and a sell stop 2x ATR below the buy signal not sure how I can accomplish this. Sorry, I am new to thinkscript my code is pretty messy.

#code written by cornbread

input displace = 0;
input factor = 1.5;
input length = 20;
input price = close;
input averageType = AverageType.SIMPLE;
input trueRangeAverageType = AverageType.SIMPLE;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);

def average = MovingAverage(averageType, price, length);

def Avg = average[-displace];

def Upper_Band = average[-displace] + shift[-displace];
def Lower_Band = average[-displace] - shift[-displace];


input Num_Dev_Dn = -2.0;
input Num_Dev_up = 2.0;


def sDev = StDev(data = price[-displace], length = length);

def MidLine = MovingAverage(averageType, data = price[-displace], length = length);
def BBLowerBand = MidLine + Num_Dev_Dn * sDev;
def BBUpperBand = MidLine + Num_Dev_up * sDev;

def avg1 = MovingAverage(AverageType.EXPONENTIAL, price, 8);
def avg2 = MovingAverage(AverageType.EXPONENTIAL, price, 21);


def squeeze = Upper_Band > BBUpperBand and Lower_Band < BBLowerBand;
def unsqueeze = Upper_Band < BBUpperBand and Lower_Band > BBLowerBand;

input period = 252;
input choice = {default High, Low, "High or Low"};
input choice1 = 10.0;

def hi = high;
def lo = low;

plot scan;
switch (choice) {
case High:
    scan = price >= Highest(hi, period) * ((100 - choice1) / 100);
case Low:
    scan = price <= Lowest(lo, period) * ((100 + choice1) / 100);
case "High or Low":
    scan = price >= Highest(hi, period) * ((100 - choice1) / 100) or price <= Lowest(lo, period) * ((100 + choice1) / 100)
;
}

def buy = scan and squeeze and avg1 > avg2 and price > avg2;

AddOrder(OrderType.BUY_TO_OPEN, buy, name = "squeezestrat buy");

input trailType = {default modified, unmodified};
input ATRPeriod = 14;
input ATRFactor = 2.0;
input firstTrade = {default long, short};
input ATRAverage = AverageType.WILDERS;

def sell = ATRTrailingStop(trailType, ATRPeriod, ATRFactor, firstTrade, ATRAverage).sellSignal;

def profittarget = unsqueeze and price < low[2];

AddOrder(OrderType.SELL_TO_CLOSE, sell, tickcolor = GetColor(1), arrowcolor = GetColor(1), name = "2 atr sell stop");

AddOrder(OrderType.SELL_TO_CLOSE, profittarget, tickcolor = GetColor(1), arrowcolor = GetColor(1), name = "profit target");

 

[rad14733]

I'm not seeing EntryPrice() anywhere in your script... You would calculate your 3ATR target from that price... That is unless you only want it for backtesting using your own trade price...

 

[cornbread]

oh I didn't realize that I was using the buy variable as my entry point.

 

[cornbread]

this is what I came up with but something is messed up it is hitting the 2 atr sell stop on candles that were above the the entry candle.

#code written by cornbread

input displace = 0;
input factor = 1.5;
input length = 20;
input price = close;
input averageType = AverageType.SIMPLE;
input trueRangeAverageType = AverageType.SIMPLE;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);

def average = MovingAverage(averageType, price, length);

def Avg = average[-displace];

def Upper_Band = average[-displace] + shift[-displace];
def Lower_Band = average[-displace] - shift[-displace];


input Num_Dev_Dn = -2.0;
input Num_Dev_up = 2.0;


def sDev = StDev(data = price[-displace], length = length);

def MidLine = MovingAverage(averageType, data = price[-displace], length = length);
def BBLowerBand = MidLine + Num_Dev_Dn * sDev;
def BBUpperBand = MidLine + Num_Dev_up * sDev;

def avg1 = MovingAverage(AverageType.EXPONENTIAL, price, 8);
def avg2 = MovingAverage(AverageType.EXPONENTIAL, price, 21);


def squeeze = Upper_Band > BBUpperBand and Lower_Band < BBLowerBand;
def unsqueeze = Upper_Band < BBUpperBand and Lower_Band > BBLowerBand;

input period = 252;
input choice = {default High, Low, "High or Low"};
input choice1 = 10.0;

def hi = high;
def lo = low;

plot scan;
switch (choice) {
case High:
    scan = price >= Highest(hi, period) * ((100 - choice1) / 100);
case Low:
    scan = price <= Lowest(lo, period) * ((100 + choice1) / 100);
case "High or Low":
    scan = price >= Highest(hi, period) * ((100 - choice1) / 100) or price <= Lowest(lo, period) * ((100 + choice1) / 100)
;
}

def buy = scan and squeeze and avg1 > avg2 and price > avg2;


AddOrder(OrderType.BUY_TO_OPEN, buy, name = "squeezestrat buy");

def sell = entryprice() - (2*ATR());
def profittarget = entryprice() + (3*ATR());
def profittarget2 = unsqueeze and price < low[2];

AddOrder(OrderType.SELL_TO_CLOSE, sell, tickcolor = GetColor(1), arrowcolor = GetColor(1), name = "2 atr sell stop");



AddOrder(OrderType.SELL_TO_CLOSE, profittarget, tickcolor = GetColor(1), arrowcolor = GetColor(1), name = "3 atr profit target");

 

[cornbread]

I think I fixed it. Need to figure out how to add partial sells to it now.

#code written by cornbread

input displace = 0;
input factor = 1.5;
input length = 20;
input price = close;
input averageType = AverageType.SIMPLE;
input trueRangeAverageType = AverageType.SIMPLE;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);

def average = MovingAverage(averageType, price, length);

def Avg = average[-displace];

def Upper_Band = average[-displace] + shift[-displace];
def Lower_Band = average[-displace] - shift[-displace];


input Num_Dev_Dn = -2.0;
input Num_Dev_up = 2.0;


def sDev = StDev(data = price[-displace], length = length);

def MidLine = MovingAverage(averageType, data = price[-displace], length = length);
def BBLowerBand = MidLine + Num_Dev_Dn * sDev;
def BBUpperBand = MidLine + Num_Dev_up * sDev;

def avg1 = MovingAverage(AverageType.EXPONENTIAL, price, 8);
def avg2 = MovingAverage(AverageType.EXPONENTIAL, price, 21);


def squeeze = Upper_Band > BBUpperBand and Lower_Band < BBLowerBand;
def unsqueeze = Upper_Band < BBUpperBand and Lower_Band > BBLowerBand;

input period = 252;
input choice = {default High, Low, "High or Low"};
input choice1 = 10.0;

def hi = high;
def lo = low;

plot scan;
switch (choice) {
case High:
    scan = price >= Highest(hi, period) * ((100 - choice1) / 100);
case Low:
    scan = price <= Lowest(lo, period) * ((100 + choice1) / 100);
case "High or Low":
    scan = price >= Highest(hi, period) * ((100 - choice1) / 100) or price <= Lowest(lo, period) * ((100 + choice1) / 100)
;
}

def buy = scan and squeeze and avg1 > avg2 and price > avg2;


AddOrder(OrderType.BUY_TO_OPEN, buy, name = "squeezestrat buy");

def sell = close <= (entryprice() - (ATR()*2));
def profittarget = close >= (entryprice() + (ATR()*3));
def profittarget2 = unsqueeze and price < low[2];

AddOrder(OrderType.SELL_TO_CLOSE, sell, tickcolor = GetColor(1), arrowcolor = GetColor(1), name = "2 atr sell stop");



AddOrder(OrderType.SELL_TO_CLOSE, profittarget, tickcolor = GetColor(1), arrowcolor = GetColor(1), name = "3 atr profit target");

 

[RickAns]

Please let us know if you get the partial sells to work. I have gotten partial adds to work in another project, but not the sells yet. Always seems to close out the entire position.