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Trade Plans In Strategies
Exit in Lower TimeFrame
Last Activity 5/21/2018 12:01 PM
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ap·pren·ticeGuru

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Subject : Exit in Lower TimeFrame
Posted : 10/12/2016 6:34 PM
Post #26273

Hello,

How do I set an EXIT in Tradeplan or Order Block of the strategy to run in current timframe (-1) ( where timeframe (-1) is the lower time frame of my choice) than the current primary timeframe in data period I have selected.

I cannot find that option in Tradeplan. Is this possible ? Thanks.

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Jim Dean

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Subject : RE: Exit in Lower TimeFrame
Posted : 10/12/2016 7:44 PM
Post #26274 - In reply to #26273

It's not possible. Exits are in the current timeframe. You can code for artificial higher timeframes but not access lower ones.
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ap·pren·ticeGuru

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Subject : RE: Exit in Lower TimeFrame
Posted : 10/12/2016 9:25 PM
Post #26275 - In reply to #26273

What a bummer.

I have finally reached nirvana after much time spent studying, researching, spending, sharing, etc. everything to do with OmniTrader and trading to build a truly solid OT trading strategy that uses everything I have learned over the years and just come to learn I can't do something that is probably one aspect very important in exiting a trade at a very right time and moment, without donating much monies to the market.

This feature alone can beat trailing stop, imho, in many ways, I think, done correctly.

I understand N busy schedule, hopefully, they can consider to add this feature in OT2017 upgrade, date just around the corner. Peace.


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Jim Dean

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Subject : RE: Exit in Lower TimeFrame
Posted : 10/12/2016 9:33 PM
Post #26276 - In reply to #26275

There are other solutions possible. I simply answered your question.

Simplest solution is to make the current timeframe BE the "-1" duration, and run the entry and filter etc at the higher timeframe.
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ap·pren·ticeGuru

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Subject : RE: Exit in Lower TimeFrame
Posted : 10/13/2016 4:55 AM
Post #26277 - In reply to #26273

True, but too complicated and can get messy when entry is just as complicated in current period of strategy where some entry blocks already include current-1 too. Basically, your suggestion is to reverse the concept.

Will attempt your suggestion, but my fear is if consistent results in timely manner be given when signals are fired. As I recall, last time I tried something like that, I lost my mind following the strategy, timeframes :-) switching back/forth chart templates, periods, etc. It just did not go well for me at the time nor the results.

I will try again, as I really need this concept to work to make my strategy successful.

[Edited by ap·pren·ticeGuru on 10/13/2016 4:58 AM]

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Jim Dean

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Subject : RE: Exit in Lower TimeFrame
Posted : 10/13/2016 5:57 AM
Post #26278 - In reply to #26277

No need to do a lot of switching, now that they have synchronized cursors on stacked charts with differing time frames.

If you don't need to do backtesting of the concept, there is another way to solve it using the system clock to parse the entry-timeframe bar at the HRE only. But that method only works for symbols that are sufficiently liquid in that timeframe.

This is not an easy task for Nirvana to fix btw. It's been requested and discussed for many years. It would require major rewriting of core logic, which in turn could destabilize other stuff. Thus the roundabout solutions.
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Mel

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Subject : RE: Exit in Lower TimeFrame
Posted : 10/13/2016 8:46 AM
Post #26280 - In reply to #26278

At least on Order blocks, isn't it possible to have another system block connected with a reversing signal based on another time frame, and have the Order block get you out based on that?
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Jim Dean

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Subject : RE: Exit in Lower TimeFrame
Posted : 10/13/2016 9:04 AM
Post #26281 - In reply to #26280

I never tried that Mel - my guess is that since the order block itself is in the current timeframe, then whatever feeds it would be implemented in that time frame.

The surest way to do this is to program everything from the lower timeframe, rewriting all the higher-timeframe logic based on "constructed" bars.

[Edited by Jim Dean on 10/13/2016 9:07 AM]

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Mel

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Subject : RE: Exit in Lower TimeFrame
Posted : 10/13/2016 9:34 AM
Post #26282 - In reply to #26281

How would the Order block know that time frame the signal was generated from - its just a signal in the current time frame. Have to test it, I think.
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