OmniTrader Professional Forum
OmniTrader Pro General Discussion
LONG ENTRY RULE One shot "Go or no Go"
0 replies, 551 viewings
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OmniTrader Professional Forum
OmniTrader Pro General Discussion
LONG ENTRY RULE One shot "Go or no Go"
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Last Activity 6/18/2025 7:38 AM 0 replies, 551 viewings |
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MikeB Member Posts: 11 Joined: 4/7/2020 Location: Auckland NZ  User Profile |
I would like to use a "Go or no Go" entry ( for longs only) See the attached chart of I and AAPL; Logic is.... 1) "long signal" plus today's CLOSE (day1) DELAY. 2) THEN, if the next day's CLOSE (day2) is higher than today's CLOSE (day1) enter the Trade. IF next day's; CLOSE (day2) is lower than CLOSE (day1) abandon this trade altogether and wait for the next long signal. I've seen discussion on long signal + higher open rule ie; " O > C[1]" after long signal is generated if next day (day2) open higher that previous day's close (day1) enter the trade. BUT.... If you have noticed, the "go or no go rule" based on next day's close higher than today's close appears to be a much more powerful predictor of the profitability of that long Trade. Try it manually and see.... Currently, I do this manually and typically enter the trade day2 I live in NZ so the time zone is beneficial as I can estimate if the close next day (day2) is likely to be higher so I trade. I'd like to automate this rule and see the absolute profitability in a forward test and use it for ATM trading Can anyone assist with programming advice? I know its complicated as you have to wait until the end of the next day and trade day3..  Attached file : Next day go or no go.ppt.ppt (94KB - 237 downloads) Attached file : Next day go or no go.ppt.ppt (94KB - 214 downloads) |
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