Multi-bar Engulfing Pattern

[ksle2011]

Anyone can help fix the code below by adding Weekly changes? Thank you.



# YTD Return
# Mobius
# 06.15.2015

declare hide_on_intraday;

input price = close;
input length = 1;
input displace = 0;
input Show_Labels = yes;

def newyear = if getYear() != getYear()[1] then 1 else 0;
def newmonth = if getMonth() != getMonth()[1] then 1 else 0;
def yo = compoundValue(1, if newyear then open else yo[1], open);
def mo = compoundValue(1, if newmonth then open else mo[1], open);
def yearopen = yo;
def monthopen = mo;
def SMA = Average(price[-displace], length);
def yochange = (sma - yearopen) / yearopen ;
def mochange = (close - monthopen) / monthopen;

AddLabel(Show_Labels, concat("Year % change = ", AsPercent(yochange)), color.white);
AddLabel(Show_Labels, "Month % change = " + (AsPercent(mochange)), color.white);

 

[wherdendorf]

That sure is a nice looking chart. Thanks for you prompt attention to my problem. I see that even auto buy buys at the next candle. That means that all automated backtesting will produce garbage results. I have been backtesting manually for months now (way to much screen time). I did put a label on the chart based on the horizontal line script. This does flash every time the line appears, which is what I want. So now I guess I will have to set up Auto hot keys to react to the change then put in orders. I think I would have to paper trade for a couple of months to get real time results. Thanks to Svanoy for doing all the heavy lifting on this subject. He even posted his ahk script on the algo trading thread. The finish line has been pushed farther down the road, but thanks to your help it is a lot closer. Again....Thank you my friend for your work. I will keep you updated on my progress.

 

[somefool]

I see that even auto buy buys at the next candle. That means that all automated backtesting will produce garbage results.

I am struggling with the same issue.
https://usethinkscript.com/threads/...-fatal-flaw-of-thinkscript.13475/#post-113259

I want my trade to execute now, on the current bar when my condition becomes true (like in real trading) so that I can more accurately backtest and forward test strategies.

But what you said above is not what I am seeing when I test the code from Svanoy/halcyonguy. What I see is that the text (e.g. -1 Sell) appears above the new bar (I'm not sure this issue can be fixed) but the actual order execution price if you look at the P/L report is the close price of the previous bar where the condition became true.

So the text graphics on the chart are 'wrong' but the P/L report appears to be correct. Essentially the P/L report is being tweaked to reflect where you want the trade to happen in real life. Please take another look and let me know if you agree. Thanks