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OmniVest User Forums
General OmniVest Feature Requests
Condition Manager
Last Activity 12/14/2017 8:41 PM
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mdsmith77

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Subject : Condition Manager
Posted : 3/29/2014 10:52 AM
Post #29621

A nice feature of the Condition manager would be if MACD_HIST (12,26,9)-Which I created-could be used to indicate long or short, it can be seen when comparing with $spx it would make a huge difference in the overall return. HOWEVER, when MACD indicates to exit the position the strategy stop-loss has not yet occurred and the profit that was made disappears by the time the strategy stop-loss kicks in.

In addition, when implementing a stop-loss in the trade processor Omnivest does not recognize that a trade was exited and is still listed under Open Poitions in Omnivest. For example, I have used a 3% stop-loss which worked great but the problem is that since Omnivest does not recognize the exit no new trades are submitted to replace it. Thus, there seems to be no way to be "fully invested" until Omnivest closes the trade you have already exited. So what I am asking for then is a way for OV to recognize the stop-loss and submit new trades. Is this something that could be done? I think it would really enhance a great program-thanks!!!
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Jim Dean

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Subject : RE: Condition Manager
Posted : 3/29/2014 11:31 AM
Post #29625 - In reply to #29621

As to your second question ... the TP currently submits closing orders before opening orders ... but it doesn't check to see the net result of all that on the account ... and then potentially create more opening orders (probably via Limit Orders) if there are still avail funds. It's my understanding that process is planned for the near term, notably once TP is in the Nirvana Cloud and can more easily talk to OVest.

Re your first question ... you could certainly set up two Strategies, both using the same System and List, with one for Longs-Only with the condition MACD(12,26,9) > 0 and the other for Shorts-only with the condition MACD(12,26,9) < 0. If I understand what you are asking for, that should do it.

Of course the OScript formula could be just about anything. The key is to create two OVest strat's that use the same Sys and List with separate Long and Short.
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mdsmith77

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Subject : RE: Condition Manager
Posted : 3/30/2014 12:19 PM
Post #29632 - In reply to #29621

Jim,

Thanks for the reply. I have set up a couple of Strats based on MACD. My frustration is that when the stop-loss in the TP is used then executed, OV does not recognize that a specific stock was closed and continues to stay in the Open Positions tab in OV. I had several trades closed with the stop-loss @ 3% but OV is still treating them as Open Positions for several days/weeks. Thus, I was never fully invested until OV eventually closed the trades that were already exited in TP. It would be nice if OV through the Condition Manager could get out of those Open positions earlier. That way the stop-loss in TP would be more effective. As a result, I no longer use the stop-loss feature on TP. Don't know if this is possible nut it would be great to have.
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Barry Cohen

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Subject : RE: Condition Manager
Posted : 3/31/2014 12:05 PM
Post #29637 - In reply to #29632

Yes, the stop loss feature is currently only in the TP, & there is no way to have OmniVest close trades that the TP or the user has closed.
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mdsmith77

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Subject : RE: Condition Manager
Posted : 3/31/2014 12:49 PM
Post #29640 - In reply to #29621

Barry,

I this something that can be done in the near future?

Thanks!
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Barry Cohen

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Subject : RE: Condition Manager
Posted : 3/31/2014 1:03 PM
Post #29641 - In reply to #29640

It's been discussed & is a popular feature request. It can certainly be done, but I don't believe it will be anytime in the near future.
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mdsmith77

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Subject : RE: Condition Manager
Posted : 3/31/2014 1:18 PM
Post #29642 - In reply to #29621

ok-It would certainly be a great benefit-thanks
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DON SMITH

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Subject : RE: Condition Manager
Posted : 3/31/2014 3:37 PM
Post #29643 - In reply to #29621

Without the ability to tell TP that that a symbol is no longer being traded (via the OV) the condition manager has a very minimal effect on the return as the profit that was made by the filter dwindles away by the time TP gets the signal to exit the position.
Why can't it be programmed that it is the user's responsibility to tell both OV and TP that a trade is no longer desired in a given symbol?
This would also solve the problem of telling OV that a position is unmanaged in TP. Thanks Don Smith
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Barry Cohen

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Subject : RE: Condition Manager
Posted : 3/31/2014 4:05 PM
Post #29644 - In reply to #29643

I'm not sure how the Condition Manager issue & the TP's stop losses closing trades while OV leaves them open issue are related. They are seperate subjects.

Why can't it be programmed that it is the user's responsibility to tell both OV and TP that a trade is no longer desired in a given symbol?


That capability exists now that you can create your own custom OmniVest strategies on custom lists. Only use strategies that trade symbols that you desire to trade.
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Jim Dean

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Subject : RE: Condition Manager
Posted : 3/31/2014 4:07 PM
Post #29645 - In reply to #29643

The plan is to have both TP and OV in the Nirvana cloud, so they can talk to one another however they need to. That's a big step but it will solve this and many many other needs.

That's why no quick specific solution - would just be tossed out once the cloud is completed.
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