please help me make a trading system

#1
hello

please accept my warm wishes !

i want to make a trading system based on price action .

the criteria for long and short is defined already however i am more interested in making a complete trading system .

the system is mainly suitable for equities the time frame is eod .

A long signal if today's close > yesterday high --- entry can be taken at day's end or next days morning

A short signal if today's close < yesterday's low .entry can be taken at day's end or next days morning

Need profit booking , targets

More imp how to add up or scale up and scale down .

Most imp finding the supp and resistance levels .

at this stage i am not requesting coding as for me more imp in my views is defining the abv concepts .
the esteemed members of this forum is requested to shed their insights into the above system .

i am also attaching an image of a chart which is not related to above trading system but gives an idea as to how the support and resistance shud look like and as to how scaling up cud be done .


rgds


sumit bhatia


 
Last edited:

bunti_k23

Well-Known Member
#3
sumit it is very simple.....

Plot(C, "Close",colorLightGrey,styleCandle);

buy = C > ref(H,-1);
sell = C < ref(L,-1);

//where,

//C = current days close ,
//ref = is used when u want to use historical values,
//-1 = previous bar ....-2 prior to previous bar and so on......,
//H = high of the day,
//L = low of the day.

Buy=ExRem(Buy,Sell);
Sell=ExRem(Sell,Buy);

//this exrem func will eliminate repetative signals once the buy/sell condition met,


PlotShapes( Buy*shapeUpArrow, colorWhite, 0, Low );
PlotShapes( Sell*shapeDownArrow, colorWhite, 0, High );

pick any method and try to improvise it,
understand the concept of coding they are very simple , read each and every afls u will get it and if u want to modify something just copy paste the syntax and put in ur afl check the variables are defined or not thats it.....u dont have to write complete syntax for everything they are there on internet just try to define variable in that particular syntax and put those variables into buy sell signals done....:thumb:

this link will help u......
http://www.traderji.com/amibroker/95300-sum-gud-afl-components-code.html
 
Last edited:
#4
thanks bunti for replying before this thread goes to oblivion

however my main objective was on other paramters of making the system like sl , scaling up profit booking and plotting resistance and support !



coding although required is still not on the immediate priority .once i get the inputs i will go for coding .


rgds


sumit
 

bunti_k23

Well-Known Member
#5
You can get the code of target,sl and tsl from the link which I have provided to u.for profit booking ,partial profit booking technique is good and effective say at 1:1 rr rest u can trail wit sl ,the logic behind that is u will be minimizing the loss by making a profit pivot\averaging.many times after entry price moves in our favour but then again reverts back to sl ,so we have to figure out on an average how much the price price travels in our favours in this scenarios like at 1:0.5 or 1:0.75,etc etc so we can make our partial profit booking there. U can just copy paste these codes and use.but, prior to that u need the entries of ur system ,first design entries try to filter bad trades by applying anything\any tool and then after that goto sl,targets,tsl....these can be design afterwards.but first entries are imp.:thumb:
Best luck
 
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#6
entry is defined already for long and shorts . sl and targets can be done with ease based on a thumb rule or by previous candle lows .


more imp is scaling up and defining support and resistance.

at this stage let the system be defined and then the coding aspect can be looked at


rgds


sumit
 

wisp

Well-Known Member
#7
entry is defined already for long and shorts . sl and targets can be done with ease based on a thumb rule or by previous candle lows .


more imp is scaling up and defining support and resistance.

at this stage let the system be defined and then the coding aspect can be looked at


rgds


sumit
Price action based SR will be a bit tough to draw in unless u r looking at PDH, PDL, LOD, HOD etc. Perhaps can use the usual R1 R2 etc (super trend indic has them alreadY). for S/R or an MA
 
#8
Price action based SR will be a bit tough to draw in unless u r looking at PDH, PDL, LOD, HOD etc. Perhaps can use the usual R1 R2 etc (super trend indic has them alreadY). for S/R or an MA

since i am looking at the daily chart pdh /pdl/low/hod is not relevant where the price refuses to move further after a buy /sell entry can be defined as supp or resistance.
 

monkeybusiness

Well-Known Member
#9
sumit it is very simple.....

Plot(C, "Close",colorLightGrey,styleCandle);

buy = C > ref(H,-1);
sell = C < ref(L,-1);

//where,

//C = current days close ,
//ref = is used when u want to use historical values,
//-1 = previous bar ....-2 prior to previous bar and so on......,
//H = high of the day,
//L = low of the day.

Buy=ExRem(Buy,Sell);
Sell=ExRem(Sell,Buy);

//this exrem func will eliminate repetative signals once the buy/sell condition met,


PlotShapes( Buy*shapeUpArrow, colorWhite, 0, Low );
PlotShapes( Sell*shapeDownArrow, colorWhite, 0, High );

pick any method and try to improvise it,
understand the concept of coding they are very simple , read each and every afls u will get it and if u want to modify something just copy paste the syntax and put in ur afl check the variables are defined or not thats it.....u dont have to write complete syntax for everything they are there on internet just try to define variable in that particular syntax and put those variables into buy sell signals done....:thumb:

this link will help u......
http://www.traderji.com/amibroker/95300-sum-gud-afl-components-code.html
Hi bunti, Thanks for the AFL, can we right exploration for this AFL?

Thanks again
 

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