Download: 1sthr.ela
File Includes: Signal - 1st Hour Breakout
Category: Strategy > 1st Hour Breakout
Description:
? This is example of a simple trading system. Entries are based on breakouts, and exits are based on average day range.
Inputs: RanLn - length of period used for average day range calculation.
EasyLanguage Code:
VARS: SESS1FIRSTBARDATE(0,DATA2), SESS1FIRSTBARHIGH(0,DATA2), SESS1FIRSTBARLOW(0,DATA2), AVEDAYRANGE(0,DATA3);
INPUT: RANLN(10);
AVEDAYRANGE = AVERAGE((H[0] OF DATA3 - L[0] OF DATA3),RANLN) OF DATA3;
IF (TIME OF DATA2 = SESS1FIRSTBARTIME OF DATA2) OR (DATE[0] DATA2 > DATE[1] OF DATA2) THEN BEGIN
SESS1FIRSTBARDATE = DATE[0] OF DATA2;
SESS1FIRSTBARHIGH = HIGH[0] OF DATA2;
SESS1FIRSTBARLOW = LOW[0] OF DATA2;
END;
IF (SESS1FIRSTBARDATE = DATE OF DATA2) AND (TIME OF DATA2 < SESS1ENDTIME OF DATA2) THEN BEGIN
CONDITION1 = C[1] < SESS1FIRSTBARHIGH[0];
IF CONDITION1 THEN BUY AT SESS1FIRSTBARHIGH[0] + 20 POINTS STOP;
CONDITION2 = CLOSE[1] > SESS1FIRSTBARLOW[0];
IF CONDITION2 THEN SELL AT SESS1FIRSTBARLOW - 20 POINTS STOP;
END;
VALUE1 = SESS1FIRSTBARHIGH[0] - AVEDAYRANGE;
VALUE2 = SESS1FIRSTBARLOW[0] + AVEDAYRANGE;
IF LOW[0] <= VALUE1 THEN EXITSHORT AT MARKET;
IF HIGH[0] >= VALUE2 THEN EXITLONG AT MARKET;