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One shot entry trigger - One shot entry trigger
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slipstream  
#1 Posted : Monday, April 30, 2012 5:30:51 AM(UTC)
slipstream

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Hi, I'm sure there's a simple solution to this one, but I can't seem to stumble across it!! How can I create an entry trigger that only occurs once when a condition is first met? I do not want to be notified of further entries once the trade is active. I understand that I can nominate level 0 trades only in my Metastock code, but I want to have indicators to create an expert advisor that only shows level 0 trades. Thanks.
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jjstein  
#2 Posted : Monday, April 30, 2012 5:47:58 AM(UTC)
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First, set your signals to buy & sell:
Code:

Entry:={your code here};
Exit:={your code here};


Next, use this bit of "re-usable" code to do the trick:
Code:

{ REMOVE EXTRA SIGNALS, +1=Buy -1=Sell }
Signal:=Cum(IsDefined(entry+exit))=1; { Enough data ? }
Signal:=ValueWhen(1,entry-exit<>0 OR Signal,entry); { Current }
entry:=Signal*(Alert(Signal=0,2) OR entry*Cum(entry)=1); { Current or 1st }
exit:=(Signal=0)*(Alert(Signal,2) OR exit*Cum(exit)=1); { Current or 1st }
entry:=(exit=0)*entry; { favor EXIT }
Signal:=Entry-Exit; { Signal }
Season:=ValueWhen(1,Signal<>0,Entry)*2-1; { Signal active }


You can then use "Signal" for the entry & exit, or "Season" to tell when in or out of the trade.
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slipstream  
#3 Posted : Monday, April 30, 2012 1:23:12 PM(UTC)
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Thank you Jonathan. I'll give this a go in the coming days and let you know if I have any follow up questions. I really appreciate the detail you have provided. Cheers!
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slipstream  
#4 Posted : Tuesday, May 1, 2012 12:26:37 AM(UTC)
slipstream

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OK, I generated the indicator and it works a treat. Great!! I haven't examined the code in detail, but I wonder if it is possible to modify slightly so that the value "season" can be increased by 1 every time a subsequent entry trigger occurs after the level 0 trade? I am trying to use this technique to lock in some profit on an open level 0 trade at a certain % and then reset the trade to the original size to limit my open trade exposure. Thanks again.
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jjstein  
#5 Posted : Tuesday, May 1, 2012 10:15:47 AM(UTC)
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slipstream wrote:
I haven't examined the code in detail, but I wonder if it is possible to modify slightly so that the value "season" can be increased by 1 every time a subsequent entry trigger occurs after the level 0 trade?


"Season=1" means the trade is active. "Signal" is a buy or a sell.

Are you saying you want a running count of the signals that were filtered out?
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slipstream  
#6 Posted : Thursday, May 3, 2012 2:10:55 AM(UTC)
slipstream

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Hi again, Basically the answer to your question is Yes! I need to track the overall trade duration which the "season" value does beautifully. I would also like to track subsequent signals once the trade is active. Thanks.
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jjstein  
#7 Posted : Thursday, May 3, 2012 10:25:44 AM(UTC)
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This should do it:

Code:
Plot:=Input("Plot: 1=Signal 2=Count Entry",1,2,2);

{ BUY & SELL CONDITIONS -- YOUR CODE HERE! }
MAshort:=Mov(C,5,S);
MAlong:=Mov(C,21,S);
Entry:=Sum(H>Ref(H,-1),3)=3;
Exit:=Cross(MAlong,MAshort);

EntryEvent:=Entry; { Store unfiltered signal }

{ REMOVE EXTRA SIGNALS, +1=Buy -1=Sell }
Signal:=Cum(IsDefined(entry+exit))=1; { Enough data ? }
Signal:=ValueWhen(1,entry-exit<>0 OR Signal,entry); { Current }
entry:=Signal*(Alert(Signal=0,2) OR entry*Cum(entry)=1); { Current or 1st }
exit:=(Signal=0)*(Alert(Signal,2) OR exit*Cum(exit)=1); { Current or 1st }
entry:=(exit=0)*entry; { favor EXIT }
Signal:=Entry-Exit; { Signal }
Season:=ValueWhen(1,Signal<>0,Entry)*2-1; { Signal active }

{ COUNT }
Count:=Cum(EntryEvent);
Counter:=Count-ValueWhen(1,Signal<0 OR Count=1,Count);

{ PLOT }
If(Plot=1,Signal,Counter);
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jjstein  
#8 Posted : Thursday, May 3, 2012 11:17:55 AM(UTC)
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jjstein wrote:
This should do it:

OR NOT! Just realized that it misses the first trade. Here's a correction, with a count of Exits as well:

Code:
Plot:=Input("Plot: 1=Signal 2=Count Entry 3=Count Exit",1,3,1);

{ BUY & SELL CONDITIONS -- YOUR CODE HERE! }
MAshort:=Mov(C,5,S);
MAlong:=Mov(C,21,S);
Entry:=Sum(H>Ref(H,-1),3)=3;
Exit:=Sum(L<Ref(L,-1),3)=3;

EntryEvent:=Entry; { Store unfiltered signal }
ExitEvent:=Exit; { Store unfiltered signal }

{ REMOVE EXTRA SIGNALS, +1=Buy -1=Sell }
Signal:=Cum(IsDefined(Entry+Exit))=1; { Enough data ? }
Signal:=ValueWhen(1,Entry-Exit<>0 OR Signal,Entry); { Current }
Entry:=Signal*(Alert(Signal=0,2) OR Entry*Cum(Entry)=1); { Current or 1st }
Exit:=(Signal=0)*(Alert(Signal,2) OR Exit*Cum(Exit)=1); { Current or 1st }
Entry:=(Exit=0)*entry; { favor EXIT }
Signal:=Entry-Exit; { Signal }
Season:=ValueWhen(1,Signal<>0,Entry)*2-1; { Signal active }

{ PLOT }
If(Plot=1,Signal,if(Plot=2,
Cum(EntryEvent)-ValueWhen(1,Cum(EntryEvent)=0 OR Signal<0,Cum(EntryEvent)),
Cum(ExitEvent)-ValueWhen(1,Cum(ExitEvent)=0 OR Signal>0,Cum(ExitEvent))
));
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slipstream  
#9 Posted : Thursday, May 17, 2012 3:21:18 PM(UTC)
slipstream

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Thank you so much for the great assistance you have given me. After a few cracks at my idea I have managed to get through it thanks to your input. Cheers! Slipstream
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