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Trade Plans In Strategies
Delaying exits via omniscripts in a tradeplan.
Last Activity 5/21/2018 12:01 PM
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Awindy

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Posts: 19

Joined: 2/10/2010
Location: Racine, Wisconsin

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Subject : Delaying exits via omniscripts in a tradeplan.
Posted : 9/23/2014 12:43 PM
Post #23097

Hello All,

I use OmniPilot in a real time profile. I want to prevent any new trades from exiting until the current session has ended thereby avoiding Pattern day trades. I have tried inserting a step in my tradeplan that has the following omniscript " Time (15, 01)" expecting that the tradeplan will not proceed to check the subsequent steps containing the exit conditions until that time is reached which would be after the close (Central time). I still see trades closing out the same day (using 65 min bars). I also tried inserting a step with " Aftersessionopen" since Aftersessionclose is not a valid command but that did not work either.

Any suggestions or recommendations on how best to delay exits to avoid PDT (Pattern Day Trading) in intraday timeframes?


PS: I am able to do this by inserting an NBAR condition instead of an omniscript condition where NBAR = 6 but this is not a perfect solution since it will wait for all 6 bars to complete even if a trade is entered on the last bar of the day and exit conditions are met on the first bar of the following day.

PPS: I did read the other thread by JohnW where he got OT to start trading at 9:50 using now.hour and now.min but I'm not sure what the syntax is for that and if it would be applicable to my situation.

Thanks,

Roger Boye

[Edited by Awindy on 9/25/2014 1:29 PM]

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