Legging Out - Backtesting Strategy

[SeanGMT]

I have a strategy that is working well and I believe would do much better if I could leg out. Is this possible in a thinkscript strategy?

Example;

### Condition is met - Enter with 10 contracts
OrderType(BUY_TO_OPEN, Condition is true, OPEN[-1], trade size = 10, name = "BUY LONG");

### First take profit level is hit - Close half of the position
OrderType(SELL_TO_CLOSE, Close above profit level # 1 is true, OPEN[-1], trade size = 5, name = "Sell half");

### Second take profit is hit - Close remaining contracts
OrderType(SELL_TO_CLOSE, Close above profit level #2 is true, OPEN[-1], trade size = 5, name "Close Position");

I have tried variations of SELL_AUTO and SELL_TO_CLOSE with no luck. I am able to add contracts to the BUY side (Start with 10, add xxx contracts as many times as I want) but I am not able to split the close side. Any assistance would be greatly appreciated

 

[halcyonguy]

I have a strategy that is working well and I believe would do much better if I could leg out. Is this possible in a thinkscript strategy?

Example;

### Condition is met - Enter with 10 contracts
OrderType(BUY_TO_OPEN, Condition is true, OPEN[-1], trade size = 10, name = "BUY LONG");

### First take profit level is hit - Close half of the position
OrderType(SELL_TO_CLOSE, Close above profit level # 1 is true, OPEN[-1], trade size = 5, name = "Sell half");

### Second take profit is hit - Close remaining contracts
OrderType(SELL_TO_CLOSE, Close above profit level #2 is true, OPEN[-1], trade size = 5, name "Close Position");

I have tried variations of SELL_AUTO and SELL_TO_CLOSE with no luck. I am able to add contracts to the BUY side (Start with 10, add xxx contracts as many times as I want) but I am not able to split the close side. Any assistance would be greatly appreciated

i thought this might help, but i don't think so. i changed my setting from 1 to 3. but the 2nd sell quantity is not right. it is the same as the buy quantity, like it opened a new short position.

change max order quantity
https://usethinkscript.com/threads/is-it-possible-to-place-two-addorders.4952/#post-45891


your code has some errors,
it is addorder( not ordertype(

https://toslc.thinkorswim.com/center/reference/thinkScript/Functions/Others/AddOrder


modified code for testing

#strat_partial_sells

#https://usethinkscript.com/threads/legging-out-backtesting-strategy.21305/
#Legging Out - Backtesting Strategy
#SeanGMT  8/4
#1
#I have a strategy that is working well and I believe would do much better if I could leg out. Is this possible in a thinkscript strategy?

#I have tried variations of SELL_AUTO and SELL_TO_CLOSE with no luck. I am able to add contracts to the BUY side (Start with 10, add xxx contracts as many times as I want) but I am not able to split the close side. 


def na = Double.NaN;
def bn = BarNumber();

input buy1_qty = 10;
input sell1_qty = 5;
input sell2_qty = 5;

def buy1 = bn == 100;
def sell1 = bn == 120;
def sell2 = bn == 140;

### Condition is met - Enter with 10 contracts
addorder(type = OrderType.BUY_TO_OPEN, condition = buy1, price = OPEN[-1], tradesize = buy1_qty , name = "BUY LONG");

### First take profit level is hit - Close half of the position
addorder(type = OrderType.SELL_auto, condition = sell1, price = OPEN[-1], tradesize = sell1_qty, name = "Sell half");

### Second take profit is hit - Close remaining contracts
addorder(type = OrderType.SELL_auto, condition = sell2, price = OPEN[-1], tradesize = sell2_qty, name = "Close Position");


#---------------------
#AddOrder ( type , condition , price , tradeSize , tickColor , arrowColor , name ); 
#AddOrder(OrderType.BUY_TO_OPEN, BuySignal, price = open[-1], tradeSize = shares, tickcolor = Color.GREEN, arrowcolor = Color.GREEN, name = "BUY" );
#AddOrder(OrderType.SELL_TO_CLOSE, SellSignal, price = open[-1], tradeSize = shares[1], tickcolor = Color.RED, arrowcolor = color.red, name = "SELL");
#