Add Price Threshold Parameter to Certain Blocks

The threshold parameter would require the price to move x ticks/pips above/below an indicator for a signal to fire. I do not believe there is a current method of implementing this. This could add more functionality to entries and exits. 



Entries: 
I may want to trade a moving average cross only if the current price is 10 pips above the value on the chart where that moving average cross occurred. You could also use a support and resistance custom indicator and define a rule where you could only enter if the price moved x ticks above/below that level to have more control over looking at breakouts vs reversals etc. 


Exits
You could also use this for trailing and taking profit. Say you wanted to trail X pips behind a moving average? Easily doable. You could also Take profit X pips below a high or above a low. This will have to be implemented after trailing, stops and targets using indicators are fully enabled. This should also work with profit trailing.


Also, this would only work with indicators that were painted on a chart because this specifically looks at the distance delta from the indicator to the price. 


I don't know if any of this is doable in algo wizard but if it is, we should really make sure all functionality is shared between strategy quant and algo wizard. This might mean a rearranging of how blocks are displayed. 


This functionality should also be able to use ATR and pips independently for the distance above/below indicator calculation 


In strategies that use moving average crosses, this could filter out chop by requiring price to move a certain distance before entering a trade to fire. For this reason, I also believe it should come with using some functionality such as valid entry bars checked when this is on by default in order to track the max amount of time that can pass from the first leg of a signal in order to stop looking for a trade if this threshold is not met. 

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  • Votes 0
  • Project StrategyQuant X
  • Type Feature
  • Status Archived
  • Priority Normal
  • Assignee None
  • Milestone Archived (To be done later)

History

KL
#1

kainc301

27.12.2018 04:20

Task created

MF
#2

Mark Fric

16.02.2020 13:52

Status changed from New to Archived


Votes: 0

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