OCO SELL Orders Not Working Out

[rubixcube49]

I am trying to create 3 OCO SELL orders independent of an initial BUY order for the same stock. All 3 SELL orders are conditional, driven by an underlying STUDY. Once any one of the sell orders is filled, I want to automatically cancel the other two. I tried OCO brackets, but it's trying to force me into a BUY / SELL LIMIT / SELL STOP configuration, which is not what I want. Is this Post the sad answer to my question:

https://usethinkscript.com/threads/...-target-profit-limit-orders.17196/post-134839

If not, what am I missing here?

 

[Joshua]

Tell me more about the actual orders once submitted. Are they a mix of different types, like market and limit orders, or at different quantities?

 

[rubixcube49]

Tell me more about the actual orders once submitted. Are they a mix of different types, like market and limit orders, or at different quantities?

to be more specific, here are the 3 scripts I want to use to trigger 3 OCO SELL orders:

# TARGET PRICE EXIT
################################################################
########### Variables ############
################################################################
input buyPrice = 100000.0;
input targetMultiplier = 3;
input length = 7;
#input averageType = AverageType.WILDERS;
input averageType = AverageType.SIMPLE;
input agg = aggregationPeriod.DAY;

################################################################
############ Defs ################
################################################################
def ATR = MovingAverage(averageType, trueRange(high(period = agg),close(period = agg),low(period = agg)), length);
def profitTarget = ATR * targetMultiplier;
def targetPrice = buyPrice + profitTarget;
plot Signal = if targetPrice >= close[1] then 1 else 0;
#Signal.Hide();
-------------------------------------------------------------------------------------------------------
Note that I have to enter the stock purchase price manually with "input buyPrice =" because I can't pick it up automatically from ToS.
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
# STOP LOSS EXIT
################################################################
########### Variables ############
################################################################
input buyPrice = 100000.0;
input stopLossMultiplier = 1.5;
input length = 7;
#input averageType = AverageType.WILDERS;
input averageType = AverageType.SIMPLE;
input agg = aggregationPeriod.DAY;

################################################################
############ Defs ################
################################################################
def ATR = MovingAverage(averageType, trueRange(high(period = agg),close(period = agg),low(period = agg)), length);
def stopLoss = ATR * stopLossMultiplier;
def targetPrice = buyPrice - stopLoss;
################################################################
############ Plot ################
################################################################
plot Signal = if targetPrice <= close[1] then 1 else 0;
#Signal.Hide();
-------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
# BLACK BAR EXIT
#
#REQUIREMENTS (NEW) - RSI Set to 7, WILDERS
# 5-25-24 Stoch Slow 14 and 3 SIMPLE
# MACD 12,26,9 EXPONENTIAL
#
#REQUIREMENTS (OLD) - RSI Set to 7, EXPONENTIAL
# Stoch Slow 14 and 3 WILDERS
# MACD 12,26,9 WEIGHTED

declare upper;

################################################################
########## RSI #########
################################################################
input lengthRSI = 7;
input price = close;
#input averageTypeRSI = AverageType.EXPONENTIAL;
input averageTypeRSI = AverageType.WILDERS;
def NetChgAvg = MovingAverage(averageTypeRSI, close - close[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(close - close[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);

################################################################
########## Stochastic Slow #########
################################################################
input KPeriod = 14;
input DPeriod = 3;
#input averageTypeStoch = AverageType.WILDERS;
input averageTypeStoch = AverageType.SIMPLE;
#def SlowK = reference StochasticFull(80,20, KPeriod, DPeriod, high, low, close, 3, averageTypeStoch).FullK;
def SlowD = reference StochasticFull(80,20, KPeriod, DPeriod, high, low, close, 3, averageTypeStoch).FullD;

################################################################
########## MACD #########
################################################################
input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
#input averageTypeMACD = AverageType.WEIGHTED;
input averageTypeMACD = AverageType.EXPONENTIAL;
def Value = MovingAverage(averageTypeMACD, close, fastLength) - MovingAverage(averageTypeMACD, close, slowLength);
def Avg = MovingAverage(averageTypeMACD, Value, MACDLength);
def Diff = Value - Avg;

#################################################################
##### No Trend - Moving Sideways #########
#################################################################
def UpTrend = if RSI > 50 and SlowD > 50 and Value > Avg then 1 else 0;
def DownTrend = if RSI < 50 and SlowD < 50 and Value < Avg then 1 else 0;
#
plot NoTrend = if !UpTrend and !DownTrend then 1 else 0;
#NoTrend.Hide();
------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------
Here is a representative Edit Condition:

Here is a representative Order Rule:

Here is my 1st order attempt:

OOPS! Can't use GTC with market orders.

Here is my 2nd order attempt:

Hmmm...can't use a MARKET order in an OCO group

That's when I posted to this forum.

 

[Joshua]

Well, first, you should probably change all of the unnecessary inputs to def, leaving only important inputs like Price that you plan on changing often. Then you can just use a single conditional order, and combine all three scripts in the condition. Once it fills due to any of the three reasons, there's nothing left to cancel.

Plot Conditional = Study1(price = $$$, ... ) Or Study2() Or Study3();

 

[rubixcube49]

Well, first, you should probably change all of the unnecessary inputs to def, leaving only important inputs like Price that you plan on changing often. Then you can just use a single conditional order, and combine all three scripts in the condition. Once it fills due to any of the three reasons, there's nothing left to cancel.

Plot Conditional = Study1(price = $$$, ... ) Or Study2() Or Study3();

Thanks so much for your input, Joshua. Here's how I implemented your suggestion:
-----------------------------------------------------------------------------------------------------------
script targetPrice {
input buyPrice = 0.0;
def targetMultiplier = 3;
def length = 7;
def averageType = AverageType.SIMPLE;
def agg = aggregationPeriod.DAY;
def ATR = MovingAverage(averageType, trueRange(high(period = agg),close(period = agg),low(period = agg)), length);
def profitTarget = ATR * targetMultiplier;
def targetPrice = buyPrice + profitTarget;
plot Signal = if targetPrice >= close[1] then 1 else 0;
Signal.Hide();
}

script stopLoss {
input buyPrice = 0.0;
def stopLossMultiplier = 1.5;
def length = 7;
def averageType = AverageType.SIMPLE;
def agg = aggregationPeriod.DAY;
def ATR = MovingAverage(averageType, trueRange(high(period = agg),close(period = agg),low(period = agg)), length);
def stopLoss = ATR * stopLossMultiplier;
def targetPrice = buyPrice - stopLoss;
plot Signal = if targetPrice <= close[1] then 1 else 0;
Signal.Hide();
}

script blackBar {
################################################################
########## RSI #########
################################################################
def lengthRSI = 7;
def price = close;
def averageTypeRSI = AverageType.WILDERS;
def NetChgAvg = MovingAverage(averageTypeRSI, close - close[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(close - close[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);

################################################################
########## Stochastic Slow #########
################################################################
def KPeriod = 14;
def DPeriod = 3;
input averageTypeStoch = AverageType.SIMPLE;
def SlowD = reference StochasticFull(80,20, KPeriod, DPeriod, high, low, close, 3, averageTypeStoch).FullD;

################################################################
########## MACD #########
################################################################
def fastLength = 12;
def slowLength = 26;
def MACDLength = 9;
def averageTypeMACD = AverageType.EXPONENTIAL;
def Value = MovingAverage(averageTypeMACD, close, fastLength) - MovingAverage(averageTypeMACD, close, slowLength);
def Avg = MovingAverage(averageTypeMACD, Value, MACDLength);
def Diff = Value - Avg;

#################################################################
##### No Trend - Moving Sideways #########
#################################################################
def UpTrend = if RSI > 50 and SlowD > 50 and Value > Avg then 1 else 0;
def DownTrend = if RSI < 50 and SlowD < 50 and Value < Avg then 1 else 0;
#
plot Signal = if !UpTrend and !DownTrend then 1 else 0;
Signal.Hide();
}
plot Trigger = targetPrice(buyPrice = 0.0).Signal or stopLoss(buyPrice = 0.0).Signal or blackBar().Signal;

----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
If this looks ok, my only question is, where do I actually update the buyPrice variable before submitting this script?

Thanks again.

 

[rubixcube49]

Thanks so much for your input, Joshua. Here's how I implemented your suggestion:
-----------------------------------------------------------------------------------------------------------
script targetPrice {
input buyPrice = 0.0;
def targetMultiplier = 3;
def length = 7;
def averageType = AverageType.SIMPLE;
def agg = aggregationPeriod.DAY;
def ATR = MovingAverage(averageType, trueRange(high(period = agg),close(period = agg),low(period = agg)), length);
def profitTarget = ATR * targetMultiplier;
def targetPrice = buyPrice + profitTarget;
plot Signal = if targetPrice >= close[1] then 1 else 0;
Signal.Hide();
}

script stopLoss {
input buyPrice = 0.0;
def stopLossMultiplier = 1.5;
def length = 7;
def averageType = AverageType.SIMPLE;
def agg = aggregationPeriod.DAY;
def ATR = MovingAverage(averageType, trueRange(high(period = agg),close(period = agg),low(period = agg)), length);
def stopLoss = ATR * stopLossMultiplier;
def targetPrice = buyPrice - stopLoss;
plot Signal = if targetPrice <= close[1] then 1 else 0;
Signal.Hide();
}

script blackBar {
################################################################
########## RSI #########
################################################################
def lengthRSI = 7;
def price = close;
def averageTypeRSI = AverageType.WILDERS;
def NetChgAvg = MovingAverage(averageTypeRSI, close - close[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(close - close[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);

################################################################
########## Stochastic Slow #########
################################################################
def KPeriod = 14;
def DPeriod = 3;
input averageTypeStoch = AverageType.SIMPLE;
def SlowD = reference StochasticFull(80,20, KPeriod, DPeriod, high, low, close, 3, averageTypeStoch).FullD;

################################################################
########## MACD #########
################################################################
def fastLength = 12;
def slowLength = 26;
def MACDLength = 9;
def averageTypeMACD = AverageType.EXPONENTIAL;
def Value = MovingAverage(averageTypeMACD, close, fastLength) - MovingAverage(averageTypeMACD, close, slowLength);
def Avg = MovingAverage(averageTypeMACD, Value, MACDLength);
def Diff = Value - Avg;

#################################################################
##### No Trend - Moving Sideways #########
#################################################################
def UpTrend = if RSI > 50 and SlowD > 50 and Value > Avg then 1 else 0;
def DownTrend = if RSI < 50 and SlowD < 50 and Value < Avg then 1 else 0;
#
plot Signal = if !UpTrend and !DownTrend then 1 else 0;
Signal.Hide();
}
plot Trigger = targetPrice(buyPrice = 0.0).Signal or stopLoss(buyPrice = 0.0).Signal or blackBar().Signal;

----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
If this looks ok, my only question is, where do I actually update the buyPrice variable before submitting this script?

Thanks again.

Yes, original code was sloppy! Let's try this:

script TopBottomExits {
input buyPrice = 0.0;
def stopLossMultiplier = 1.5;
def targetMultiplier = 3;
def length = 7;
def averageType = AverageType.SIMPLE;
def agg = aggregationPeriod.DAY;
def ATR = MovingAverage(averageType, trueRange(high(period = agg),close(period = agg),low(period = agg)), length);
def profitTarget = ATR * targetMultiplier;
def stopLoss = ATR * stopLossMultiplier;
def targetPrice = buyPrice + profitTarget;
def stopLossPrice = buyPrice - stopLoss;
plot TakeProfit = if targetPrice >= close[1] then 1 else 0;
plot StopLossPlot = if stopLossPrice <= close[1] then 1 else 0;
StopLossPlot.Hide();
TakeProfit.Hide();
}

script blackBar {
################################################################
########## RSI #########
################################################################
def lengthRSI = 7;
def price = close;
def averageTypeRSI = AverageType.WILDERS;
def NetChgAvg = MovingAverage(averageTypeRSI, close - close[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(close - close[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);

################################################################
########## Stochastic Slow #########
################################################################
def KPeriod = 14;
def DPeriod = 3;
input averageTypeStoch = AverageType.SIMPLE;
def SlowD = reference StochasticFull(80,20, KPeriod, DPeriod, high, low, close, 3, averageTypeStoch).FullD;

################################################################
########## MACD #########
################################################################
def fastLength = 12;
def slowLength = 26;
def MACDLength = 9;
def averageTypeMACD = AverageType.EXPONENTIAL;
def Value = MovingAverage(averageTypeMACD, close, fastLength) - MovingAverage(averageTypeMACD, close, slowLength);
def Avg = MovingAverage(averageTypeMACD, Value, MACDLength);
def Diff = Value - Avg;

#################################################################
##### No Trend - Moving Sideways #########
#################################################################
def UpTrend = if RSI > 50 and SlowD > 50 and Value > Avg then 1 else 0;
def DownTrend = if RSI < 50 and SlowD < 50 and Value < Avg then 1 else 0;
#
plot Signal = if !UpTrend and !DownTrend then 1 else 0;
Signal.Hide();
}
plot Trigger = TopBottomExits(buyPrice = 0.0).TakeProfit or TopBottomExits(buyPrice = 0.0).StopLossPlot or blackBar().Signal;
-------------------------------------------------------------------------------------------------------------------

 

[Joshua]

With it all as Script{}s within a single study like that, you just add another input for the price, above all of the scripts. Then at the bottom, where you plot the trigger, you use that input's value as the BuyPrice parameter.

Then in the conditional order setup, you can actually reference the entire study as if it were a function, and put whatever price you want in as that parameter. It would go in here: